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Middle East & Africa


South Africa's rand firmer as US holiday offers reprieve JOHANNESBURG: South Africa's rand took advantage of a U.S. market holiday on Monday to claw back more than half a percent in gains versus the dollar, sneaking into firmer territory after a two-session losing streak.The local unit firmed 0.57 percent to 11.047 by 1420 GMT , reversing two consecutive days of losses in the previous week.The rand clung on to good news out of China as the world's second-largest economy reported a surprise up-tick in exports and imports, allaying fears that its resource-hungry factories might be stalling."The Chinese data will probably only be a short-term support factor," said Jana van Deventer, an economist at ETM Analytics."Market participants will keep the less robust global growth outlook by the IMF in the back of their minds, so the rand resilience we saw today will struggle to extend once we see Japan and the U.S. returning to the market."The IMF cut its 2014 ...

Kenyan shilling treads water against the dollar NAIROBI: The Kenyan shilling held steady against the dollar on Monday as importers remained on the sidelines.At 0805 GMT, leading commercial banks posted the shilling at 89.10/20, unchanged from Friday's close.The shilling, which is 2.8 percent down against the US currency this year, has been under pressure due to a dearth of dollars as tourism, a key source of foreign exchange, dwindled in the wake of frequent attacks by Islamists.Traders said the supply of dollars ...
Egyptian pound steady on official, weaker on black market CAIRO: Egypt's pound held steady at a central bank dollar sale on Monday, when the bank said it sold $37.4 million at a cut-off price of 7.1401 pounds per dollar.The price was unchanged from Thursday's sale.In the unofficial market, the pound was trading at 7.38 to the dollar, slightly weaker than Thursday's rate of 7.37, one trader said.The rate for dollar sales has stayed in a tight range since the beginning of June, after the ...
Ugandan shilling weakens on importer demand KAMPALA: The Ugandan shilling fell for a second session on Monday, weighed down by dollar demand from importers, with the weakening seen as likely to persuade the central bank to keep interest rates on hold on Tuesday.At 0942 GMT commercial banks quoted the shilling at 2,673/2,683, weaker than Friday's close of 2,667/2,677."We're seeing a continuation of appetite from importers," said Centenary Bank trader Sage Daniel Muganza.Muganza said liquidity in the interbank market was tightening after ...
South Africa's rand halts 4-day gains as investors shun risk JOHANNESBURG: South Africa's rand snapped a four-day winning streak against the dollar on Friday, amid a lack of domestic impetus to counter rising concerns about the state of the global economy which left investors averse to risky assets. The market has moved on from the euphoria of respected deputy Governor Lesetja Kganyago being appointed to take over as central bank chief when Gill Marcus retires on Nov. 8. Market players are now focused on Finance ...
Kenya shilling dips in quiet morning trade, may gain next week NAIROBI: Kenya's shilling weakened slightly in quiet Friday morning business as traders bought dollars to square positions before the weekend, while demand for shillings to meet tax payments could help strengthen the currency next week.By 0720 GMT, the shilling was 89.05/89.15 to the dollar, modestly weaker than Thursday's close of 89.00/89.10 but still in a tight range of recent sessions of roughly 89.00 to 89.30."It's Friday so typically we don't see a lot of trading ...
Ugandan shilling slips on manufacturer dollar demand, rate expectations KAMPALA: The Ugandan shilling weakened on Friday due to a surge in demand for dollars by manufacturing firms and commercial banks before the central bank's decision on Tuesday that could see the key lending rate cut.At 0929 GMT commercial banks quoted the shilling at 2,670/2,680, weaker than Wednesday's close of 2,653/2,663. "I am seeing a lot of appetite from importers like manufacturing firms who want dollars to buy raw materials," said Isaac Iga, chief dealer ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln