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Kenyan shilling seen weaker on tourism downturn after attack  NAIROBI: The Kenyan shilling weakened on Wednesday despite dollar sales by the central bank on the previous day because of an expected downturn in the key tourism sector after a deadly attack last week.At 0830 GMT, commercial banks quoted the shilling at 92.60/80 to the dollar, from Tuesday's close of 92.55/65.The shilling had recovered from an intraday low of 92.82/92 on Tuesday after the central bank sold an unspecified amount of dollars to banks to support the local currency.Hoteliers in a country that counts tourism as one of its major foreign exchange earners say visitors have cancelled bookings after the al Qaeda-allied al Shabaab gunmen killed 148people during the assault on Thursday.Kenya's tourism industry has been in decline since 2013 when al Shabaab stormed an upscale shopping mall in the capital Nairobi, killing 67 people during a bloody four-day siege.Traders said the negative outlook for tourism had put pressure on ...

Egyptian pound steady on official, slightly weaker on black markets CAIRO: Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Wednesday, while the currency weakened slightly on the black market.The central bank has kept the official exchange rate steady for more than two months after letting the pound weaken at the start of the year in an attempt to wipe out black market trading.The bank said it offered $40 million at auction on Wednesday and sold ...
South Africa's rand gains versus dollar in risk-on trade JOHANNESBURG: South Africa's rand strengthened against the dollar early on Wednesday, helped by investors' appetite for riskier assets on expectations that the US Federal Reserve will delay hiking interest rates.At 0615 GMT the rand was trading 0.4 percent stronger at 11.8375 to the dollar compared with its closing level on Tuesday."Rand gains have been helped by an ongoing risk-on tone in global markets following the payrolls figure," Rand Merchant Bank currency trader John Cairns said ...
Ugandan shilling firms on light dollar demand KAMPALA: The Ugandan shilling firmed on Monday, buoyed by slack dollar demand and inflows of the U.S. currency from commodity exporters but was seen weakening after central bank injected local currency liquidity.At 0927 GMT commercial banks quoted the shilling at 2,988/2,998 to the dollar, stronger than last Thursday's close of 3,000/3,010.The markets were closed for holidays on Friday and Monday."(Dollar) demand is generally sluggish as activity is slowly taking off after the holiday, however we ...
Nigeria's naira soars on black market after smooth election LAGOS: The naira firmed sharply on the black market on Tuesday as Nigerians who had stockpiled dollars ahead of last week's elections sold off their holdings when the feared violence and instability did not materialise, dealers said.Opposition leader Muhammadu Buhari defeated incumbent Goodluck Jonathan in the March 28 vote which passed off largely without incident, to the relief of investors in Africa's biggest economy and most populous nation.The naira firmed more than 6 percent to ...
Egyptian pound steady on official, black markets CAIRO: Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Monday, and the currency remained steady on the black market.The central bank has kept the official exchange rate steady for more than two months after letting the pound weaken at the start of the year in an attempt to wipe out black-market trading.The bank said it offered $40 million at auction on Monday and sold ...
South Africa rand touches 1-week high vs dollar on US nonfarms jitters JOHANNESBURG: South Africa's rand firmed to a one-week high to the dollar on Thursday before retreating slightly, as the greenback softened ahead of widely watched U.S. employment data due on Friday.At 1515 GMT the local unit had firmed 0.46 percent to 11.9400, having earlier gained over half a percent to a one-week high against a broadly weaker dollar."The dollar is softer across the board, which must be due to some profit taking," said Lee Naisbitt, ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln