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Middle East & Africa


South Africa's rand steady, could soften on trade data JOHANNESBURG: South Africa's rand was flat against the dollar in early Monday trade, with the risk of weakening during the week if domestic trade data shows a widening deficit.At 0654 GMT the local unit traded at 10.5140 versus the greenback, a touch softer than Friday's close at 10.5105.In fixed income, yields edged higher, with the 2026 benchmark adding 1.5 basis points to 8.205 percent and the 2015 paper inching up 1 basis points to 6.65 percent.In addition to the trade data due out on Thursday, the market will also scrutinise unemployment, credit and producer inflation and monthly budget data numbers this week for pointers on the state of the economy, which has been beset by strikes.On Monday the NUMSA union said there had been some development in talks with employers over a wage offer that could end a walkout in the metal and engineering sector. Copyright Reuters, 2014 ...

Kenyan shilling inches down on dollar demand NAIROBI: The Kenyan shilling edged down on Monday, under pressure from importers buying dollars to meet their end-month obligations, market participants said.At 0700 GMT, commercial banks posted the shilling at 87.75/85 per dollar, marginally down from Friday's closing rate of 87.65/75."There seems to be demand and no supply to match it," said John Njenga, a trader at Commercial Bank of Africa.He said the demand was mainly coming from oil firms and manufacturers.The shilling was, however, ...
Ugandan shilling rises slightly, more gains seen KAMPALA: The Ugandan shilling edged up on Friday on the back of banks selling dollars and market participants said it could rise further next week due to inflows from charity groups. At 0952 GMT, commercial banks quoted the shilling at 2,623/2,633, slightly up from Thursday's close of 2,627/2,637. "In the interbank we've seen some significant (dollar)selling which has strengthened the shilling," said Benon Okwenje, trader at Stanbic Bank."I am expecting strong inflows as we approach ...
Kenya shilling steady as dollar demand offset by tight liquidity NAIROBI: The Kenyan shilling was steady on Friday with pressure from importers seeking dollars balanced by tight shilling liquidity.At 0820 GMT, commercial banks quoted the Kenyan currency at 87.70/90 to the dollar, compared with Thursday's close of 87.80/90."We are range-bound, but we have seen tightness in the money market ... so that's offering some support," said John Njenga, trader at Commercial Bank of Africa.He said the usual end-of-the-month demand for dollars from importers was expected ...
Kenyan shilling steady, seen easing as importers buy dollars NAIROBI: The Kenyan shilling was steady on Thursday and traders said they expected it to weaken in coming days due to importer demand from energy companies.At 0816 GMT, commercial banks quoted the shilling at 87.80/90 to the dollar, compared with Wednesday's close of 87.80/88.00.Traders said the shilling was expected to weaken once importers - who are sitting on the sidelines waiting for the shilling to strengthen - come in to buy dollars to pay for ...
Egyptian pound stable at central bank sale, stronger on black market CAIRO: The Egyptian pound was stable at a central bank dollar sale on Thursday but strengthened on the black market ahead of the Muslim Eid holiday next week.The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Monday.The rate for the dollar sales has stayed within a very tight range since the beginning of June, after it had allowed the pound to ...
Kenyan shilling stable, seen trading in narrow band NAIROBI: The Kenyan shilling was steady on Wednesday and traders said they expected it to keep trading in a narrow band in coming days as dollar inflows for an upcoming bond auction were soaked up by corporate demand.At 0727 GMT, commercial banks quoted the shilling at 87.80/88.00 to the dollar, compared with Tuesday's close of 87.80/90.The central bank will be auctioning a 2-year Treasury bond worth 10 billion shillings ($113.96 million)on Wednesday. Traders said the ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln