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Kenyan shilling little changed, traders keep eye on central bank NAIROBI: The Kenyan shilling was little changed on Friday, with traders saying they expected it to remain under pressure due to underlying importer demand, barring any action by the central bank.At 0740 GMT, commercial banks quoted the shilling at 89.25/35 to the dollar, compared with Thursday's close of 89.20/45.Traders said they have been trading cautiously every time the shilling approached the 89.50 level. They also said they are watching for any action by the Central Bank of Kenya, which has in the past sold dollars when it approached 89.50."Fundamentally, the shilling is still poised to weaken towards 89.50 levels," said Martin Runo, a senior trader at Chase Bank. "But guys are keenly watching CBK, because we know they are watching the market closely to come to tame the weakening in case of any sharp dips."The bank most recently was in the market to sell dollars on Sept. 19, a move ...

Ugandan shilling flat, seen stronger on inflows from offshore investors KAMPALA: The Ugandan shilling was stable on Wednesday after a decline in dollar demand, but traders said the local currency could benefit from offshore investors attracted by a rise in debt yields.At 1053 GMT commercial banks quoted the shilling at 2,645/2,655, little changed from Tuesday's close of 2,647/2,657.Yields rose across all tenors at a Treasury bill auction on Wednesday where a total of 145 billion shillings ($54.78 million) worth of debt was up for sale."The ...
Kenyan shilling, stocks shrug off GDP rise to hold steady NAIROBI: The Kenyan shilling and main stock market index were flat on Tuesday, shrugging off a jump in the gross domestic product of East Africa's biggest economy after the authorities changed the base calculation year.Foreign exchange and stock market traders said both markets had factored in a rise of Kenya's GDP, now estimated to be 25 percent bigger after the base calculation year was changed to 2009 from 2001.At close of trade at 1300 GMT, ...
South Africa's rand falls to fresh 8-month low after poor trade data JOHANNESBURG: South Africa's rand continued a downward spiral against the dollar on Tuesday, tumbling to fresh eight-month lows after the revenue service reported a sharp widening of the trade deficit.The trade account recorded a 16.3 billion rand ($1.44 billion) shortfall in August, its biggest gap in seven months.The poor trade data compounds South Africa's economic problems brought about by expected policy normalisation in the United States. South Africa's wide current account deficit, fed by a ...
Kenyan shilling weakens, Centum leads stocks higher NAIROBI: The Kenyan shilling weakened on Monday due to increased importer demand for dollars, while stocks closed higher lifted by investment firms.At close of trade at 1300 GMT, commercial banks quoted the shilling at 89.30/40 to the dollar, compared with Friday's close of 89.10/20.Earlier in the session, traders said the shilling was expected to weaken as the month drew to a close, due to demand from importers in sectors like manufacturing and energy.Traders said demand ...
Nigeria naira gains on central bank dollar intervention LAGOS: The Nigerian naira firmed 0.12 percent to close at 163.70 against the dollar on Monday, after the central bank sold dollars directly to lenders on the interbank market to prop up the ailing currency, dealer said. The local unit eased to around 164.15 naira by midday trade, prompting the central bank to intervene with an undisclosed amount of dollars sold directly on the interbank market, dealers said. The naira closed at 163.90 on Friday. ...
Kenyan shilling steady, seen easing on end-month dollar demand  NAIROBI: The Kenyan shilling was steady on Monday and traders said it was expected to remain under pressure due to end-month dollar demand from importers and other corporate clients.At 0803 GMT, commercial banks quoted the shilling at 89.10/30 to the dollar, compared with Friday's close of 89.10/20.Traders said the shilling was expected to weaken as the month drew to a close, due to demand from importers in sectors like manufacturing and energy."It's the end of ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln