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Middle East & Africa


South Africa rand steady against dollar, sees boost from risk appetite JOHANNESBURG: South Africa's rand was stable against the dollar in early Wednesday trade, supported by a general uptick in global risk appetite this week despite a fair amount of importer demand for the US currency. By 0649 GMT the rand was trading at 10.5850 to the greenback, in line with its New York close on Tuesday. "It would appear that the carry trade hasn't run out of steam just yet, as higher yielders across the board enjoy a bout of strength," Standard Bank currency trader Inshaan Omar said in a market note. "Another go at the crucial 10.5000 mark should therefore not be ruled out," he said, adding that the 10.5000-6000 range should hold for now. In fixed income, government bonds eased slightly across the curve, with yields for the benchmark 2026 and 2015 issues each adding 1.5 basis points to 8.5 percent and 6.81 percent respectively.Copyright Reuters, 2014 ...

South Africa rand firms against dollar after credit growth quickens JOHANNESBURG: South Africa's rand edged up to its firmest level this year against the dollar, after stronger than expected credit growth data backed the case for more rate increases this year. The rand touched a session high of 10.5575, up nearly 0.2 percent from Friday's close in New York and the strongest since Jan. 2, according to Thomson Reuters data. The local currency edged up slightly after central bank data showed growth in credit demand ...
Kenyan shilling steady, central bank mop-ups eyed NAIROBI: The Kenyan shilling is set to shuffle in a narrow range against the dollar this week as central bank efforts to mop up liquidity offset possible demand from oil importers, traders said on Monday.At 0752 GMT, commercial banks quoted the shilling at 86.40/60, little changed from Friday's close of 86.40/50."Outlook is again depending on CBK (the Central Bank of Kenya). If they are still in the market mopping up shillings, we could see the ...
South Africa rand retreats JOHANNESBURG: South Africa's rand retreated slightly against the dollar on Friday after strong gains the previous day, but should hold its own in the short term after the Reserve Bank signalled it would hike interests rates further this year. The local unit traded at 10.5975 to the greenback at 1611 GMT, just O.17 percent off Thursday's close. Government bonds also softened. Yields rose 3 basis points to 8.375 percent for the 2026 benchmark and half ...
Ugandan shilling weakens as banks buy dollars KAMPALA: The Ugandan shilling weakened on Friday, undermined by dollar demand from commercial banks looking to square positions and others stocking up on hard currency for dividend payments.At 0848 GMT commercial banks quoted the shilling at 2,545/2,555, weaker than Thursday's close of 2,540/2,550. "The shilling has depreciated and it's been driven mainly by (dollar) demand in the interbank ... some banks are squaring positions while others could be buying for dividend payments," said Faisal Bukenya, ...
Kenya shilling under pressure from dollar demand NAIROBI: The Kenyan shilling weakened on Thursday as oil importers sought dollars to meet their end-of-month obligations.At 0730 GMT, commercial banks posted the shilling at 86.75/85, down from the previous day's close of 86.65/75."We are still seeing demand coming in, predominantly from oil marketers ... we could see this demand continue well into next week," said Peter Mutuku, a corporate dealer at Bank of Africa.Before the demand kicked in, the shilling had been held in ...
South Africa's rand firms near recent high vs dollar JOHANNESBURG: The rand edged towards its highest in a week against the dollar on Thursday as global risk sentiment remained supportive and investors priced in tighter monetary policy later in the year. The Reserve Bank is announcing a decision on interest rates from 1300 GMT and economists polled by Reuters expect the Monetary Policy Committee will stay put on rates after a hike in January. The rand has recovered from five-year lows hit at the ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln