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Ugandan shilling weaker as dollar demand from firms weighs KAMPALA: The Ugandan shilling weakened on Monday, hurt by strong appetite for hard currency from firms in the telecoms and energy sectors and the local currency was expected to maintain a bearish bias this week.At 0843 GMT commercial banks quoted shilling at 3,065/3,075, weaker than Friday's close of 3,052/3,062.The shilling is 9.6 percent weaker against the dollar so far this year, with the latest wave of depreciation pushing it ever closer to its all-time record low of 3,116/3,126 hit in March."There's depreciation pressure piling on the shilling mainly from demand by energy and telecoms firms," said Faisal Bukenya, head of market making at Barclays Bank.The shilling has been weakening since last week due to rising dollar buying by corporate firms.Traders say the increased dollar demand has coincided with a squeeze in hard currency inflows spurred by conflicts in South Sudan and Burundi - key markets for Ugandan exports - and ...

Kenyan shilling steady, main share index down NAIROBI: The Kenyan shilling was steady on Friday, supported by the previous day's intervention by the central bank which sold dollars into the market after the local currency weakened.The benchmark NSE-20 share index finished lower while the all share index notched some gains for a second straight day.At the close of trade, commercial banks quoted the shilling at 97.45/55 to the dollar versus 97.50/70 at Thursday's close.The shilling lifted from an intra-day low of 98.95/99.05 ...
South Africa's rand under pressure as trade deficit widens JOHANNESBURG: South Africa's rand weakened for the second straight day against the dollar on Friday, hitting a session trough after data from the revenue service showed a trade deficit for April, the latest sign of a struggling economy. The local unit was within easy reach of five-week lows hit this week after Statistics South Africa said GDP growth expanded by only 1.3 percent in the first quarter while the jobless rate worsened. The rand fell ...
South Africa rand extends losses against dollar, reaches 5-week low JOHANNESBURG: South Africa's rand fell more than 1.3 percent against the dollar on Thursday, tracking emerging market peers after a report said capital flows were projected to fall, weighed down partly by the prospect of higher U.S. interest rates.The rand touched a session low of 12.1925/dollar, its weakest in five weeks, and was trading at 12.1775 by 1257 GMT, down 1.29 percent from Wednesday's close in New York.Copyright Reuters, 2015 ...
Kenyan shilling drops to 3-1/2 year low, shares ease NAIROBI: Kenya's shilling fell to its lowest in close to three years and seven months on Tuesday, undermined by dollar demand from the energy and manufacturing sectors.Shares fell slightly.At the close of trade, commercial banks quoted the shilling at 98.35/45 to the dollar, down from Monday's close of 97.85/95. The shilling last traded at these levels in Nov. 2011."Demand is from energy and manufacturing. But I expect it not to weaken further. I think we ...
South Africa's rand buckles as weak data, strong dollar weigh JOHANNESBURG: South Africa's rand slipped to a two-week low on Tuesday, weighed down by poor domestic data while the dollar stretched recent gains. At 1500 GMT the rand had weakened 1.09 percent to 12.0600 per dollar, with the next support around 12.15 in sight ahead of another wave of domestic data later this week. "Rand weakness is a function of a much firmer dollar," said Nilan Morar of Global Trader, as the rand traded past ...
Kenya's shilling hits 3-1/2 year low, undermines stocks NAIROBI: Kenya's shilling sunk to a three-and-a-half year low on Monday as importers bought dollars, while stocks finished lower as foreign investors stayed out due to the weakening currency.At the close of trade, commercial banks quoted the shilling at 97.85/95 to the dollar - a level last touched in Nov. 2011 - down from Friday's close of 97.40/50."There's still some bit of dollar-buying," Martin Runo, senior trader at Chase Bank, said.The shilling has been under ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln