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Middle East & Africa


Egyptian pound steady on official, weaker on black market CAIRO: Egypt's pound held steady at a central bank dollar sale on Thursday, when the bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar.The price was unchanged from Wednesday's sale.In the unofficial market, the pound was trading at 7.45 to the dollar, weaker than Wednesday's rate of 7.40 to the dollar, one trader said.The rate for dollar sales has stayed in a tight range since the beginning of June, after the bank allowed the pound to weaken in May. The central bank offered $40 million on Thursday.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates.Copyright Reuters, 2014 ...

Kenyan shilling gains on offshore investors; Safaricom sinks shares NAIROBI: The Kenyan shilling strengthened for a second straight session on Thursday dollars flowed in from offshore investors. Stocks edged lower.The shilling closed at 88.90/89.00, stronger than Wednesday's 89.10/89.20.A surge of dollars, most likely from offshore investors seeking to buy government debt, supported the local currency, said Eric Gathecha, a trader at I&M Bank."I'm thinking it must be for the government bonds coming up... we've seen quite a bit of (dollar) inflows," said Gathecha.Kenya will ...
Kenyan shilling holds steady against the dollar NAIROBI: The Kenyan shilling held steady against the dollar on Thursday and traders said payment of monthly taxes by firms could curb liquidity and offer mild support for the currency.At 0715 GMT, the shilling was trading at 89.10/20, unchanged from Wednesday's close.A trader with a leading commercial bank said that companies paying their monthly taxes this week are creating support for the shilling. "But it's a temporary support," he said.The shilling could come under pressure ...
Kenyan shilling gains on dollar inflows, stocks tread water NAIROBI: The Kenyan shilling strengthened on Wednesday on dollar inflows from charities, while stocks were steady.The shilling closed at 89.10/89.20, compared with Tuesday's close of 89.30/89.40.Duncan Kinuthia, head of trading at Commercial Bank of Africa, said foreign missionaries and non-governmental organizations with operations in Kenya were a major source of hard currency during the session."They always need to sell to fund local operations, so the money comes in foreign currency and they have to convert ...
South Africa's rand slightly firmer, lifted by finance Minister comments JOHANNESBURG: The rand edged firmer against the dollar on Wednesday as the finance minister's comments on South Africa's fiscal outlook helped the local unit fend off persistent concerns about growth prospects.Speaking to Reuters in London, recently appointed Finance Minister Nhlanhla Nene said that while South Africa was likely to cut its 2014 growth forecast next week, he did not expect the economy to slip into recession."We are moving in a direction to restrain expenditure in ...
Kenyan shilling stable, liquidity watched NAIROBI: The Kenyan shilling was little changed on Tuesday although traders said rising liquidity in money markets could weaken the currency.At 0645 GMT, the shilling was trading at 89.25/35 to the dollar, compared with Monday's close of 89.20/89.30.Average overnight lending rates dropped to 5.9673 percent on Monday from 6.1625 percent on Friday, pointing to improved liquidity, which could weigh on the currency as it makes it slightly cheaper for banks to fund long dollar positions."That ...
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 ...


Index Closing Chg%
Arrow DJIA 17,195.42 1.30
Arrow Nasdaq 4,566.14 0.37
Arrow S&P 1,994.65 0.62
Arrow FTSE 6,463.55 0.15
Arrow DAX 9,114.84 0.35
Arrow CAC-40 4,141.24 0.74
Arrow Nikkei 15,658.00 1.67
Arrow H.Seng 23,702.04 1.49
Arrow Sensex 27,346.33 0.92

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln