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South Africa's rand vulnerable to more wage strikes JOHANNESBURG: South Africa's rand weakened slightly against the dollar on Tuesday, with scope to extend losses as the country's largest labour union enters the third week of a wage strike that has hit the operations of major auto makers. At 0646 GMT the rand was trading at 10.7050/dollar, down 0.28 percent from its previous close. In fixed income, the yield for the 2026 benchmark added 1 basis point to 8.335 percent while the 2015 paper at the short end of the curve was flat at 6.67 percent.Leaders of the National Union of Metalworkers of South Africa are expected to draw up plans on widening a strike that has dealt another blow to an economy still counting the cost of a five-month platinum sector stoppage at the start of the year. "While strikes are very familiar to investors, they nonetheless have a dampening effect on confidence," Rand Merchant Bank analyst Mamello ...

South Africa's rand weaker as strike drags on, eyes on central bank JOHANNESBURG: South Africa's rand traded weaker on Monday after the NUMSA union rejected the latest wage offer from employers at the weekend and threatened to escalate a two-week-old strike.Market watchers predicted range-bound trade in the run-up to Thursday's monetary policy decision, where a small majority of the 31 analysts polled by Reuters expect the Reserve Bank to keep interest rates unchanged.At 0643 GMT the rand was trading 0.43 percent softer at 10.7480 to the dollar ...
Kenyan shilling stuck in a tight range NAIROBI: The Kenyan shilling was little changed against the dollar on Monday and traders said it was likely to trade within a tight band.At 0720 GMT, commercial banks posted the shilling at 87.65/75 per dollar, barely changed from Friday's closing rate of 87.60/70.A senior trader with a leading commercial bank said the currency would trade in a narrow band of 87.50-88.00 with corporate demand for dollars and inflows from exports like tea determining its likely ...
South Africa's rand weakens as end to strike hope dissipates JOHANNESBURG: South Africa's rand inched lower against the dollar on Friday for a second straight session as hopes of an end to a strike in the metals and engineering sector were dashed. Strike leader NUMSA rejected employers' latest offer of a 10 percent wage increase on behalf of over 200,000 workers, union sources said, sending the stoppage into its second full week. At 1426 GMT, the local unit had fallen by 0.3 percent to 10.7235 ...
Kenyan shilling inches down after liquidity surge NAIROBI: The Kenyan shilling edged down against the dollar on Friday mainly due to a rise in liquidity in the money markets and traders buying dollars to square their positions ahead of the weekend.At 0805 GMT, commercial banks posted the shilling at 87.65/75, slightly down from Thursday's close of 87.60/70."There is a bit more liquidity in the market and that is putting pressure on the shilling," said Nahashon Mungai, a trader at KCB Bank, adding ...
Ugandan shilling steady, seen easing KAMPALA: The Ugandan shilling was little-changed on Friday but was seen weakening due to dollar demand from telecom firms although tight shilling liquidity was expected to cushion any fall.At 0946 GMT commercial banks quoted the shilling at 2,665/2,675, a notch weaker than Thursday's close of 2,663/2,673."The market is still receiving significant demand from telecom firms which is keeping the shilling downward," said Faisal Bukenya, head of market making at Barclays Bank Uganda.The shilling has been ...
Kenyan shilling steady against the dollar, seen firming NAIROBI: The Kenyan shilling was little changed against the dollar on Thursday, though traders said the local currency is expected to firm in coming days due to receding political risk.At 0650 GMT, commercial banks posted the shilling at 87.60/70 per dollar, barely moved from Wednesday's close of 87.65/75.Worries over political tensions have eased after the opposition held a rally in the capital Nairobi on Monday to protest against growing insecurity, rising food prices and corruption."The ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln