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Middle East & Africa

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Egypt's pound weakens to new low of 7.43 per dollar: central bank CAIRO: Egypt's pound weakened to 7.43 per dollar from 7.39 at a central bank auction on Monday, the weakest level it has been allowed to reach since auctions began in December 2012.It was the sixth consecutive official depreciation in the past week, prompted by the gap between the black market and the official rate.The bank offered 40 million dollars and sold 38.4 million at a cut-off price of 7.4301 pounds per dollar, the central bank said.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates.But there remains an active black market in the pound that is used by businesses and individuals, and the gap between this and the official rate has been widening for months.The pound was trading at 7.90 to the dollar on the black market shortly after the central bank's ...

Nigeria naira nears record intraday low against dollar LAGOS: Nigeria's naira traded near a record intraday low on Monday as demand for the greenback met with thin liquidity, dealers said.The currency initially lifted from Friday's close, then slipped into weaker territory.A dealer traded the naira at a one-off rate of 194.10 to the dollar before the unit settled at 191.35 naira at 1118 GMT, close to a record intraday low of 191.97 it hit last week. The naira closed on Friday at a ...
South Africa's rand stable, bonds edge higher ahead of MPC JOHANNESBURG: South Africa's rand was stable against the dollar early on Monday while bond yields hovered near 20-month lows, as emerging markets continued to benefit from the European Central Bank's larger-than-expected stimulus package.On the local front, traders and investors awaited Thursday's interest rate decision, with all 37 economists surveyed by Reuters last week predicting the Reserve Bank would hold interest rates at 5.75 percent.On Monday, the yield on the 2026 benchmark revisited last week's low ...
Nigeria naira closes at record low despite central bank support LAGOS: Nigeria's naira closed at a record closing low of 190.60 to the dollar on Friday, despite the central bank intervening for a fifth day this week to prop up the currency, dealers said.The naira, which has been hard hit by falling oil prices, fell 1.2 percent against the dollar, from the previous day's close of 188.35 naira. Copyright Reuters, 2015 ...
Kenyan shilling steady, stocks up for third straight day NAIROBI: The Kenyan shilling held steady against the dollar on Friday on the back of tight local currency liquidity in the money markets, which usually makes it costlier to hold dollars.Stocks were higher for the third straight day.At the 1300 GMT close, banks quoted the shilling at 91.70/80 to the dollar, the same level as Thursday's close."It's been a bit tight on the money-market side and, due to that, the dollar/shilling did not really move ...
South Africa's rand surges against euro, bonds rally on stimulus JOHANNESBURG: South Africa's rand surged to its firmest in 19 months against the euro on Friday while bonds also rallied, as news of the European Central Bank's massive monetary stimulus bolstered appetite for emerging market assets. The rand was little changed against the dollar, however, with some investors taking a cautious tack ahead of next week's central bank rate decision. Against the euro, the currency of one of South Africa's largest trading partners, the rand ...
Rand surges vs euro, dollar after ECB turns on printing press JOHANNESBURG: South Africa's rand powered to its firmest in nearly 18 months against the euro on Thursday and notched up a 6-week high against the dollar after the European Central Bank unveiled a 60 billion euro-a-month asset purchase programme to boost growth. The rand strengthened more than 1 percent against the greenback to 11.3900 at 1545 GMT, breaching a resistance level around the 11.40 mark that had started to build up over the last two ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln