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Middle East & Africa


Kenyan shilling firms, shares fall as foreign investors take profits NAIROBI: The Kenyan shilling gained slightly on Wednesday, a day after the central bank sold dollars and said it was ready to curb speculation. Shares finished lower.At the close of trade, commercial banks quoted the shilling at 96.40/50 to the dollar, from Tuesday's close of 96.55/65.The central bank sold and an unspecified amount of dollars in the previous session and Deputy Governor Haron Sirima said the regulator would curb speculation in the currency market.Traders said the shilling was however still expected to remain under pressure due to demand for dollars by importers, with some buying now for future use by using forward contracts in anticipation of a weaker shilling."The fundamentals still remain for a weaker shilling. We are going to see increased demand for the dollar as we cross the 15th of the month," Andlip Nazir, a senior trader at Gulf African Bank, said."We are also starting to see a ...

South Africa's rand firmer on manufacturing data, bonds weaken JOHANNESBURG: South Africa's rand strengthened against the dollar on Tuesday after manufacturing unexpectedly grew in March, while bond yields continued to climb affected by the Greek debt crisis.At 1550 GMT the local unit inched 0.24 percent firmer to 12.0750 per dollar, having traded weaker for most of the session around a two-week low of 12.1490.Data from Statistics SA showed manufacturing production expanded by a more than expected 3.8 percent year-on-year in March, helping to offset ...
Kenyan shilling gains slightly on central bank dollar sale NAIROBI: Kenya's shilling recovered some of its losses on Tuesday when the central bank sold dollars to the interbank market, traders said, and the bank warned it would act to curtail speculation in the currency.Traders at commercial banks said the central bank sold an undisclosed amount of dollars after the shilling weakened to lows last seen in November 2011. The intervention buoyed the shilling, although it remained at three-year lows, where it has traded for ...
South Africa's rand slides as Greek fears weigh on EM currencies JOHANNESBURG: South Africa's rand fell more than 1 percent against the dollar on Monday, tracking a downward slide in emerging markets after investors were spooked by fears that Greece could default on its debt.A rate cut in China, the world's second largest economy, also dampened appetite for commodity currencies like the rand, analysts said.The rand hit a session low of 12.0585 to the greenback, and was trading at 12.0525 by 1518 GMT, down 1.06 percent ...
Kenyan shilling slips, shares tread water NAIROBI: Kenya's shilling weakened against the dollar on Friday and traders said it would slide further, hurt by concerns about rising imports and falling tourism revenues.At the 1300 GMT close of trade, the shilling was posted at 95.400/50 to the dollar, down from Thursday's close of 95.25/35.Bobby Otieno, treasurer at Ecobank Kenya, said some importers were frontloading their dollar requirements due to worries over the weakening of the shilling, thus driving up demand."They are hedging ...
South Africa's rand gains after US jobs underwhelms JOHANNESBURG: South Africa's rand gained over one percent against the dollar on Friday as jobs gains in the US underwhelmed, helping to boost emerging market assets. At 1400 GMT the rand firmed 0.94 percent to 11.9275, having climbed over a percent after non-farm payrolls data showed the United States added 223,000 jobs in April, just shy of market expectations but above the crucial 200k mark. The March jobs figure was revised downwards to 85,000 from ...
South Africa's rand softens after failing at key resistance JOHANNESBURG: South Africa's rand eased against the US dollar on Thursday after failing to push through the stubborn 12/$ resistance level, while investors waited for direction from US jobs numbers due in the next session. The weak state of the domestic economy was also in focus after Finance Minister Nhlanhla Nene told parliament a sluggish global recovery and domestic constraints such as power shortages were holding back growth. At 1504 the rand had softened 0.27 ...


Index Closing Chg%
Arrow DJIA 18,041.54 1.04
Arrow Nasdaq 5,032.75 1.11
Arrow S&P 2,104.20 1.03
Arrow FTSE 6,948.99 1.18
Arrow DAX 11,625.13 1.61
Arrow CAC-40 5,083.54 0.66
Arrow Nikkei 20,437.48 0.12
Arrow H.Seng 28,249.86 0.92
Arrow Sensex 27,531.41 0.41

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln