07302016Sat
Last update: Sat, 30 Jul 2016 02am

Middle East & Africa

Markets - FXMM - Middle East & Africa

Nigeria naira at record low a month after central bank lifts FX peg LAGOS: Nigeria's naira eased 4.3 percent against the dollar on Friday to hit a record low after the central bank sold the greenback at a weaker rate to boost interbank market liquidity, traders said. The naira hit a record low of 295.25 on thin trade, a month after the central bank lifted its currency peg. A total volume of $12 million traded on the interbank on Friday at an average rate of 290 naira, with traders attributing the sale to a central bank intervention. Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Ugandan shilling inches up on lower demand for dollars KAMPALA: The Ugandan shilling edged up on Friday as appetite for hard currency from importers and commercial banks tailed off. At 0929 GMT, commercial banks quoted the shilling at 3,365/3,375, a notch stronger than Thursday's close of 3,367/3,377.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

South Africa's rand gains 2 percent in global risk rally, stocks flat JOHANNESBURG: South Africa's rand raced to a new two and half month high on Thursday, riding a fresh wave of global demand for high-yielding assets as investors looked to move out of low yield positions in developed economies, while stock remained mostly unchanged. By 1515 GMT the rand had gained 2.1 percent to 14.1800 per dollar, its firmest level since May 3, after an overnight close at 14.855 in New York, with more gains in ...

Markets - FXMM - Middle East & Africa

South Africa's rand firmer on bets US rates will not rise JOHANNESBURG: South Africa's rand strengthened slightly against the dollar early on Tuesday, boosted, like other emerging market assets, by diminished expectations of U.S. rate hikes this year.The Top-40 futures index of the JSE securities exchange ticked up just 0.08 percent, suggesting the bourse would open flat at 0700 GMT.At 0645 GMT the rand traded 0.76 percent firmer at 14.3600 to the greenback compared with Monday's close.This is the strongest the rand has been since a ...

Markets - FXMM - Middle East & Africa

South Africa's rand, stocks weaker as domestic economy concerns weigh JOHANNESBURG: South Africa's rand fell 1.6 percent against the dollar early on Tuesday, weighed down by worries about the ailing domestic economy which added to renewed fears of a global slowdown, denting risk appetite.Stocks were also weaker, mainly tracking their Asian counterparts with the benchmark Top-40 index down 0.4 percent at 45,842 points while the All-Share index shed 0.5 percent to 52,204 points.The rand stumbled to a session low of 14.8000 to the greenback, and ...

Markets - FXMM - Middle East & Africa

South Africa's rand scales one-week peak, stocks also firmer JOHANNESBURG: South Africa's rand reached its strongest in more than a week to the dollar on Monday, and was still on track to recoup the losses suffered after Britain voted to exit the European, leading to a global risk sell-off. Stocks were firmer for a fourth straight session, boosted by resources companies as investors piled into safe-haven commodities to avoid volatility in Britain politics. The rand climbed to 14.4600 against the dollar before pulling back ...

Markets - FXMM - Middle East & Africa

South Africa's rand firms, stocks set to open higher JOHANNESBURG: South Africa's rand firmed in early trade on Monday as it continued its recovery from a Brexit-triggered slump, but traders remained wary before a slew of local and global economic data later in the week.At 0645 GMT, the rand traded at 14.4980 to the dollar, 0.49 percent firmer than its New York close on Friday.The currency had got support on Friday from bets that leading central banks would keep rates low to minimise the ...