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Kenyan shilling steady, seen weaker on dollar demand from importers NAIROBI: The Kenyan shilling was stable in early trading on Friday, with traders expecting it to weaken into next week due to substantial end-month dollar demand from importers.At 0850 GMT, commercial banks quoted the shilling at 89.35/45, unchanged from Thursday's close.A downturn in the tourism industry after a spate of bomb and gun attacks along the coast and in the capital this year has hurt one of the major sources of hard currency for East Africa's biggest economy.Tea earnings, another key source of dollars, have suffered due to a global glut of the commodity.Traders said they expected the shilling to weaken towards 89.50 next week.Duncan Kinuthia, head of trading at Commercial Bank of Africa, said the local currency could weaken to as low as 89.80 if the 89.50 level is breached."It's still a hard level to crack," Kinuthia said, referring to 89.50.The central bank intervened by selling dollars directly into ...

Ugandan shilling flat, seen weaker on end-month dollar demand KAMPALA: The Ugandan shilling was steady on Friday in quiet trading, but was expected to weaken in the coming days due to dollar demand from importers, traders said. At 0923 GMT commercial banks quoted the shilling at 2,700/2,710, unchanged from Thursday's close. "I think the outlook points to further weakening a lot of demand is still anticipated from importers," said Faisal Bukenya, head of market making at Barclays Bank. The shilling had lost ground to ...
Nigeria naira up 0.30pc against dollar after central bank intervenes LAGOS: The Nigerian naira firmed 0.30 percent to 164.40 against the US dollar on Thursday after the central bank intervened in the interbank market for the second straight day with an undisclosed amount of dollars, dealers said. The naira closed at 164.90 to the dollar the previous day. It had initially weakened to around 165.80 intraday, prompting central bank action to stem its fall.Copyright Reuters, 2014 ...
Kenyan shilling firms as foreign investors get ready for bond auction  NAIROBI: The Kenyan shilling strengthened against the dollar on Tuesday and traders said investors were buying local currency ready for the auction of a government infrastructure bond on Wednesday.At 0815 GMT, commercial banks posted the shilling at 88.90/89.00, stronger than Friday's close of 89.10/89.20. Monday was a public holiday and markets were closed."There's an expectation that we could see some decent flows coming for the infrastructure bond that's being auctioned," said Duncan Kinuthia, head of ...
Dollar/Saudi riyal forwards jump as spot market pressured DUBAI: The Saudi riyal fell sharply against the U.S. dollar in the forwards market on Tuesday to its lowest level since March 2011, when the Arab Spring uprisings briefly shook confidence in the political and economic stability of the Gulf.Traders said the riyal's peg of 3.75 to the dollar was not under serious pressure, and that the currency's drop did not indicate major concern about Saudi Arabia's economy.Nevertheless, the move suggested that after a long ...
Dollar/Saudi riyal forwards jump as spot market pressured DUBAI: The Saudi riyal fell sharply against the US dollar in the forwards market on Tuesday because of a surge of demand for dollars in the spot foreign exchange market, where the riyal is pegged to the US currency, traders said.One-year dollar/Saudi riyal forwards jumped to 90.0 points, their highest level since a peak of 91.50 points hit in March 2011, when the Arab Spring uprisings elsewhere in the Middle East briefly raised concern about ...
South Africa's rand firmer on China GDP, local budget could weigh JOHANNESBURG: South Africa's rand edged up to its strongest level in a week against the dollar on Tuesday, partly tracking firmer Asian currencies after GDP data in major commodity importer China came out stronger than expected. The rand's gains could, however, be short-lived if Finance Minister Nhlanhla Nene predicts a wider budget deficit than seen in February and cuts growth forecasts for the ailing economy during his medium-term budget statement on Wednesday. Nene is expected ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln