02072016Sun
Last update: Sun, 07 Feb 2016 01pm

Middle East & Africa

Markets - FXMM - Middle East & Africa

South Africa's rand flat ahead of US jobs data JOHANNESBURG: South Africa's rand weakened slightly early on Friday, pausing a rally that has seen the unit trade below the crucial 16 rand per dollar mark for three straight sessions as global risk appetite has improved. Stocks were set to open flat at 0700 GMT, with the JSE securities exchange's Top-40 futures index slipping 0.1 percent. By 0645 the rand was flat at 15.8995 per dollar, easing off its firmest level in one month after statements from the United States Federal Reserve this week suggested interest rates there would remain lower for longer. Government bonds were also firmer, with the benchmark paper due in 2026 shedding 2 basis points to 9.115 percent. Traders said currency moves would be limited ahead of the US non-farm payrolls data due later in the session. "Markets are still deciding on a consensus view for how many US rate hikes we will see this year, ...

Markets - FXMM - Middle East & Africa

Kenya's shilling steady, helped by some offshore inflows NAIROBI: Kenya's shilling was steady in early trading on Friday, with some offshore dollar inflows offering support.By 0708 GMT, the shilling was quoted at 102.10/30 to the dollar, little changed on Thursday's close of 102.10/20.One trader said some offshore investors had sold dollars. "We saw some of them having some interest in government securities," he said.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Ugandan shilling edges up as banks sell dollars KAMPALA: The Ugandan shilling inched up on Friday after banks sold dollars due to sluggish importer demand for the greenback. At 0918 GMT, commercial banks quoted the shilling at 3,450/3,460, slightly up from Thursday's close of 3,455/3,465. "Banks are selling off whatever (dollar) flows are coming through," said Faisal Bukenya, head of market making at Barclays Bank. Bukenya said the central bank had mopped up excess liquidity on Friday via a seven-day repurchase agreement (repo), ...

Markets - FXMM - Middle East & Africa

Ugandan shilling steady as banks trim dollar positions KAMPALA: The Ugandan shilling was steady on Thursday, supported by commercial banks which have been trimming long dollar positions.At 0903 GMT, commercial banks quoted the shilling at 3,460/3,470, from Wednesday's close of 3,465/3,475."It's now useless to keep long dollar positions, players are exiting those positions because ... clients are not buying (dollars)," said Charles Icadu, trader at Ecobank Uganda.Icadu said some banks were staying on the sidelines as they await a central bank rate decision ...

Markets - FXMM - Middle East & Africa

South Africa's rand slightly weaker, eyes US jobs data JOHANNESBURG: South Africa's rand weakened on Wednesday as sentiment toward risky assets remained subdued with rate hikes in the United States beckoning, while mining shares led stocks higher. By 1520 GMT, the rand had slipped 0.31 percent to 16.2700 per dollar, failing to hold on to gains earlier in the session after a rise in oil prices helped soothe the appetite for emerging assets. Bonds were also weaker, with the benchmark paper due in 2026 ...

Markets - FXMM - Middle East & Africa

Kenyan shilling holds steady, shares inch up NAIROBI: The Kenyan shilling held steady against the dollar on Tuesday while shares eked out meager gains.At the 1330 GMT close of trade, commercial banks posted the shilling at 102.25/35 per dollar, unchanged from Monday's closing rate."Activity is still thin," said a trader with a Nairobi-based commercial bank.Another trader said the shilling may have benefited from a liquidity mop-up by the central bank during the session, which usually makes it slightly more expensive for banks ...

Markets - FXMM - Middle East & Africa

South Africa's rand weakens on China data, stocks slip JOHANNESBURG: South Africa's rand weakened on Monday, succumbing to a dim domestic and global outlook as it swung back to the wrong side of the psychologically important 16 rand per dollar mark.Stocks kicked off the month on a downbeat tone, taking their cue from major overseas markets on worries about the health of the global economy.By 1545 GMT the rand had slipped 1.1 percent to 16.0620 against the greenback, weighed down early in the session ...