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Middle East & Africa


Nigerian naira steady ahead of rate-setting meeting LAGOS: Nigeria's naira was stable on Tuesday as the central bank deployed a new measure to curb speculation on the currency. Traders also said expectations that the central bank could make pronouncements on the forex exchange market at its monetary policy committee meeting on Friday were supporting the naira. "Demand for the dollar slowed down a bit today and the naira recovered due to speculations the central bank could intervene in the market this week ahead of its monetary policy meeting," one dealer said.The currency closed at 197 to the dollar on the interbank market, unchanged from Thursday's closing level.Markets were closed in Nigeria on Friday and Monday for public holidays. The naira was trading at 240 to the dollar at the parallel market, compared with 241 per dollar on Thursday. Traders said the central bank had asked bureau de change operators to request dollar buyers to provide their Bank ...

Kenya's shilling holds steady, shares fall NAIROBI: Kenya's shilling held steady on Friday after the central bank said it was ready to act to stem a sharp depreciation in the currency. Shares finished lower.At the 1330 GMT close of trade, leading commercial banks posted the shilling at 102.45/55 per dollar, compared with Thursday's close of 102.45/65 per dollar."The statement is good but the market is waiting to see what they will do," said one senior trader after the central bank issued ...
Nigeria raises 44bn naira in bonds at higher yields LAGOS: Nigeria raised 44 billion naira ($221 million) at a bond auction on Wednesday, selling the notes at yields higher than its last sale in June, the Debt Management Office (DMO) said. A total of 119.53 billion naira bids were received for the 5- and 20- year bonds, the DMO said. Copyright Reuters, 2015 ...
Dollar rally keeps pressure on South Africa's rand JOHANNESBURG: South Africa's rand extended losses against the dollar on Thursday, having fallen as much as one percent in the previous session after U.S. Federal Reserve chair Janet Yellen said a rate rise in 2015 remained likely.By 0600 GMT the rand, along with other emerging market currencies, had weakened 0.2 percent to 12.4440 per dollar , after a close of 12.4190 in New York. The dollar index was up 0.2 percent in early trade.Risk sentiment ...
South Africa's rand slips as US says Fed puts 2015 rate hike back on JOHANNESBURG: South Africa's rand suffered on Wednesday, falling one percent at one stage, as the dollar climbed boosted by signals from the U.S. central bank that a rate hike there would happen by the end of the year.At 1500 GMT the rand slipped 0.76 percent to 12.4150 per dollar, erasing gains that had carried the unit to an overnight close of 12.3255, a 1 1/2 week high.The index measuring the greenback against major currencies rose ...
Egyptian pound steady at auction, parallel market CAIRO: Egypt's central bank held the Egyptian pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday after a depreciation earlier this month. The currency also remained unchanged on the parallel market. The central bank said it had offered $40 million and sold $37.5 million at a cut-off price of 7.7301 pounds per dollar , unchanged from Sunday's rate. The central bank had held the pound at 7.5301 for the past five ...
Ugandan shilling holds steady as liquidity tightens KAMPALA: The Ugandan shilling held steady on Tuesday on the back of tighter liquidity in money markets as companies paid their mid-month taxes. Commercial banks quoted the shilling at 3,290/3,320 against the dollar at 0902 GMT, unchanged from Monday's close. "Liquidity is very tight as we have not had any injections in days," said Shahzad Kamaluddin, a trader at Crane Bank. Kamaluddin said the market now expects the currency to strengthen, aided by a combination ...


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln