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Weaker rand a boost for South African stocks, drag on bonds JOHANNESBURG: South African equities have marched ahead this year despite sluggish economic growth, with local investors scaling back their bond exposure in favour of shares that offer a hedge against a sharply weaker currency. Central bank regulations limiting local investors to taking only 25 percent of their assets offshore have prevented a mad rush out of South Africa that might have ensued with the rand's nearly 20 percent fall against the dollar this year.But asset managers are now juggling their money around more actively than they have done in the past to maximise returns, and the local bourse has benefited the most. "It's been a good news story for the equity market and a bad news story for the bonds," said Mike Keenan, a strategist at Barclays Africa. "It is a way of protecting your investment against rand depreciation, and that has actually seen the JSE (Johannesburg Stock Exchange) doing ...

Kenyan shilling weakens, seen under further pressure NAIROBI: Kenya's shilling weakened further against the dollar on Friday amid heavy demand for the US currency from the energy and telecoms sectors and a general weakening of emerging market currencies.At the close of trade at 1330 GMT, commercial banks quoted the shilling at 105.60/70 per dollar, weaker than Thursday's close of 104.95/105.15.The shilling has been edging closer to its all time low of about 107 to the dollar, set in October 2011."We have a ...
Ugandan shilling firmer on slumping importer demand, tight liquidity KAMPALA: The Ugandan shilling was firmer on Thursday, buoyed by tight liquidity and slumping demand as most importers took to the market sidelines, unwilling to buy greenbacks at current levels deemed expensive. At 0948 GMT commercial banks quoted the shilling at 3,665/3,675, stronger than Wednesday's close of 3,680/3,690. "The market is taking a breather, we're not seeing much demand at the current level," said Shahzad Kamaluddin, trader at Crane Bank. "A lot of importer customers ...
Egyptian pound steady at dollar sale, exchange bureaux CAIRO: Egypt's central bank kept the pound steady at a dollar sale on Thursday, selling $37.8 million at a cut-off price of 7.7301 pounds per dollar, unchanged from Tuesday. The central bank had kept the pound at 7.5301 for five months until July, when it allowed it to slide to 7.6301. On July 5 the bank let it slip a further 0.10 pounds. Allowing the pound to weaken in a controlled way could boost exports ...
Ugandan shilling gains as Treasury auction depresses liquidity KAMPALA: The Ugandan shilling posted marginal gains on Wednesday, helped by scant supply of shillings in the runup to a Treasury auction and subdued dollar demand. At 0906 GMT commercial banks quoted the shilling at 3,670/3,680, stronger than Tuesday's close of 3,680/3,690. "There's significant tightness in liquidity because the auction has taken away some of the money," said Faisal Bukenya, head of market making at Barclays Bank. Bank of Uganda (BoU) was due later on ...
Egyptian pound steady at official auction, weaker at exchange bureaus CAIRO: Egypt's central bank kept the pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday, and the currency was weaker at exchange bureaus. The central bank said it had offered $40 million and sold $37.8 million at a cut-off price of 7.7301 pounds per dollar, unchanged from the rate at the last auction on Sunday. The central bank kept the pound at 7.5301 for five months until July, when it allowed ...
Ugandan shilling falters on liquidity, central bank intervention eyed KAMPALA: The Ugandan shilling was a notch weaker on Tuesday, undermined by an ease in local currency liquidity and month-end demand but the an anticipated central bank intervention was seen lifting confidence in the shilling. At 0911 GMT commercial banks quoted the shilling at 3,670/3,680, from Monday's close of 3,660/3,670. Shahzad Kamaluddin, trader at Crane Bank, said Bank of Uganda (BoU)'s injection of 134 billion shillings ($36.51 million) into the market on Friday via a ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln