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Kenyan shilling hits 32-month low NAIROBI: The Kenyan shilling touched a 32-month low on Monday, under pressure from dollar buying by importers and lower hard currency inflows.At the close of trade, commercial banks quoted the shilling at 88.90/89.00 to the dollar, compared with Friday's close of 88.80/88.90. The shilling had fallen to an intra-day low of 88.95/89.05 last seen in January 2012, Reuters data showed."The shilling lost on intensified dollar buying by mostly telecommunications and manufacturing firms, and attempted to breach the 89 mark to the dollar," said peter Njuguna, an official at Kenya Commercial bank's treasury division."However, the decline attracted (dollar) sellers at around the 89-level and the shilling recouped from a low of 88.95/89.05."Traders said the shilling's fortunes would depend on whether there would be sustained dollar buying or an intervention by the central bank, to sell dollars into the market.Traders said there was little dollar inflow from the tea and tourism sectors, ...

Ugandan shilling stable with demand for dollars weak KAMPALA: The Ugandan shilling was unchanged on Monday amid weak demand and a withdrawal of excess liquidity by the central bank, and traders said it was likely to remain in a stable range this week.At 1003 GMT, commercial banks quoted the shilling at 2,605/2,615, unchanged from Friday's close.Faisal Bukenya, head of market making at Barclays Bank, said demand for dollars was limited."There's a lot of liquidity, but since we've had a mop-up I expect the ...
South Africa's rand under pressure ahead of CPI, rate call JOHANNESBURG: South Africa's rand extended recent losses to a fresh seven month low against the dollar on Monday, and was expected to remain under pressure ahead of inflation data and the central bank's rate decision later in the week. The rand has weakened more than 2 percent over the past week, reflecting a stronger dollar as investors bet on the US Federal Reserve tightening policy sooner than earlier expected. The rand hit a trough of ...
Kenyan shilling closes steady, Safaricom dampens stocks NAIROBI: The Kenyan shilling closed unchanged on Thursday, but traders said it may weaken in coming days as the flow of dollars diminishes. Stocks ended four days of gains after Safaricom fell.At close of trade at 1300 GMT, commercial banks quoted the shilling at 88.75/85 to the dollar, unchanged from Wednesday. The shilling had weakened to an intra-day low of 88.80/90."It weakened slightly on demand from the telecommunications sector, as well as the energy sector. ...
Kenyan shilling weakens on lack of tourist dollars NAIROBI: The Kenyan shilling eased on Thursday as importers sought dollars and is likely to face more pressure in coming days because a downturn in tourism has hurt foreign exchange inflows.At 0831 GMT, commercial banks quoted the shilling at 88.80/90 to the dollar, compared with Thursday's close of 88.75/85.The Bank of Africa wrote in a report that it expects the shilling to consolidate at its present range, "with a bias for further weakness to test ...
Egyptian pound steady on official market, down on black market CAIRO: Egypt's pound held steady at a central bank dollar sale on Thursday, with the bank saying it sold $37.4 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Monday's rate.In the unofficial market, the pound was trading at 7.35 to the dollar, slightly weaker than Monday's 7.30, one trader said.The rate for dollar sales has stayed in a tight range since the beginning of June, after the bank allowed the pound ...
South Africa's rand under pressure before production data JOHANNESBURG: South Africa's rand weakened towards a seven-month low against the dollar on Thursday ahead of output data expected to show the economy's key sectors are not growing. Investors are bracing for mining and manufacturing numbers, with both sectors forecast to have contracted in July as the effects of strikes and production stoppages hit output. Mining is a big foreign exchange earner in South Africa, while manufacturing is the second biggest sector of the economy. ...


Index Closing Chg%
Arrow DJIA 17,265.99 0.64
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln