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Kenyan shilling weakens on importer demand, stocks fall NAIROBI: Kenya's shilling weakened on Thursday, undermined by importer demand and the International Monetary Fund's view that the local currency was over valued.The main shares index fell on profit-taking.At close of trade, commercial banks quoted the shilling at 92.00/10 to the dollar, from Wednesday's close of 91.75/85.The IMF country representative told Reuters the shilling was over valued by about 5 to 10 percent to the dollar but demand for imports and other market pressures were likely to weaken it gradually so no policy change was needed.Traders said this also influenced the shilling."I think it's just pick-up in corporate demand, and I think also there was a statement that we saw on Reuters that said the IMF thinks the Kenya shilling was over valued," Duncan Kinuthia, head of trading at Commercial Bank of Africa, said.The shilling was helped in recent sessions by expectations of offshore interest in this week's 12-year infrastructure ...

South Africa's rand extends losses on dollar strength JOHANNESBURG: South Africa's rand extended losses against the dollar on Thursday, despite a hawkish monetary policy statement, mainly reflecting broad-based strength of the greenback against major currencies.Government bonds also weakened sharply, with the yield for the 2026 benchmark up as much as 16.5 basis points to 7.780 percent.Copyright Reuters, 2015 ...
Kenya shilling edges lower, corporate dollar demand weighs NAIROBI: Kenya's shilling weakened slightly on Thursday as the usual end-month corporate demand for dollars outweighed support from foreign exchange inflows after an oversubscribed bond auction.By 0735 GMT, the shilling was trading at 91.80/92.00 to the dollar, dipping from Wednesday's close of 91.75/85. Traders said it had opened the session slightly firmer at 91.70/80."I think the shilling will remain a bit on the back foot as we approach the end of the month," Martin Runo, ...
Egyptian pound unchanged on official, parallel markets CAIRO: Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Thursday, and the domestic currency was also stable on the black market.The central bank has kept the official exchange rate steady for more than a month after letting the pound weaken in an attempt to wipe out black-market trading.The bank said it offered $40 million at auction and sold $38.7 million at a cut-off price ...
Nigerian naira steady, oil firms sell dollars LAGOS: Nigeria's naira currency remained steady on the interbank forex market with large dollar sales by oil companies increasing liquidity, a day after central bank's Monetary Policy Committee kept its benchmark interest rate unchanged.The local currency closed at 199.10 to the dollar, the same level it has closed over the last one week."Dollar sales by some oil companies helped boost liquidity support for the naira and eased pressure on central bank intervention fund," one dealer ...
South Africa's rand slips against dollar, resurgent euro JOHANNESBURG: South Africa's rand weakened against the U.S. dollar on Wednesday ahead of an interest rate decision by the central bank, although the currency remained in sight of recent three week highs.By 1540 GMT the rand had slipped 0.3 percent versus the greenback to 11.8355, losing the momentum that saw the unit climb to a session high of 11.7550 earlier as the dollar continued to suffer against major currencies.The index measuring the dollar against a ...
Egyptian pound steady on official, black markets CAIRO: Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Wednesday, and the domestic currency was also stable on the black market.The central bank has kept the official exchange rate steady for more than a month after letting the pound weaken in an attempt to wipe out black-market trading.The bank said it offered $40 million at auction and sold $38.7 million at a cut-off price ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln