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Middle East & Africa


South Africa's rand surrenders post-Fed gains JOHANNESBURG: South Africa's rand fell sharply on Thursday, surrendering most of the gains made in the previous session when the US Federal Reserve dampened expectations of an imminent interest rate increase. By 1507 GMT the rand had weakened 1.67 percent to 12.2800 , breaching the 12/$ level for the first time in two weeks. The local unit gained as much as 3 percent overnight after the Fed downgraded its views on the US economy and signalled a more gradual approach to monetary tightening. The rand, which is one of the more volatile emerging currencies due to thin liquidity, tracked its peers lower as brief rallies fizzled out. By 1507 GMT, Russia's rouble had slipped over 1 percent after climbing to 2-1/2 month high, while the Turkish lira softened over 1 percent after gaining 1.5 percent."The weaker rand is a function of EM markets still being under pressure," said Dale Forssman, ...

Kenyan shilling stable at near 3-year lows, shares rise NAIROBI: Kenya's shilling was steady at near 3-year lows on Thursday supported by dollar inflows into the local debt market, while shares eked out slight gains.At the 1300 GMT close of the market, commercial banks quoted the shilling at 91.95/92.05 against the dollar, barely changed from Wednesday's close of 91.85/95.Traders said dollar inflows from foreign investors bidding for a 25 billion shilling ($272.03 million) infrastructure bond to be auctioned next week, and cautious trade over ...
Kenyan shilling stable, seen under pressure due to drought NAIROBI: Kenya's shilling was steady at near 3-year lows on Thursday but was expected to come under pressure on anticipated dollar demand from corporate and food importers in a country that is facing drought.The shilling was trading at 92.80/90 against the dollar at 0901 GMT, barely changed from Wednesday's close of 91.85/95.The central bank sold an undisclosed amount of dollars on Monday when the shilling weakened sharply against the US currency. The local currency has ...
Kenyan shilling strengthens on profit-taking, shares rise NAIROBI: Kenya's shilling firmed on Wednesday as investors sold dollars to take advantage of the local currency's drop to near 3-year lows and hard currency inflows trickled in aimed at a bond sale due next week.The benchmark share index recovered after two straight sessions of losses.The shilling closed trade at 91.85/95, stronger than the previous day's close of 92.05/15."There is a bit of profit-taking and inflows which came in for the bond auction next week," ...
Egyptian pound held steady by central bank but weakens on black market CAIRO: Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Wednesday, while the domestic currency weakened on the black market.The bank said it had offered $40 million and sold $38.4 million at a cut-off price of 7.5301 pounds per dollar, unchanged from its last auction held on Monday.The central bank has now kept the official exchange rate steady for more than a month after letting ...
South Africa's rand slips on foreign portfolio outflows JOHANNESBURG: South Africa's rand weakened slightly against the US dollar on Tuesday as optimism provided by a narrowing of the current account deficit was overshadowed by signs of foreign capital flight. South Africa lost 16.8 billion rand ($1.36 billion) in Q4 of 2014 to foreign portfolio outflows, due mainly to a loss of confidence in the local economy and the prospect of rate hikes in the US, central bank data showed. The Reserve Bank said, ...
Kenyan shilling flat as caution sets in, shares fall NAIROBI: Kenya's shilling was steady at near 3-year lows on Tuesday, as traders acted carefully on prospects of the central bank pumping in dollars to cut any volatility.The benchmark shares index fell on profit-taking.The shilling closed trade at 92.05/15 against the dollar, unchanged from Monday's close. The central bank sold an undisclosed amount of dollars on Monday when the shilling touched its lowest level since Nov. 2011."We were largely unchanged as market players now take ...


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln