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South Africa's rand, bonds hold steady, look offshore for direction JOHANNESBURG: South Africa's rand held steady against the dollar early on Tuesday as it waited for direction from abroad, while lower oil prices and Japan's slip into recession supported government debt. AT 0640 GMT the rand nudged up to 11.1175 to the dollar, off a 11.1345 close in New York on Monday. The currency was trading within Monday's levels, with little on the domestic calendar to inspire moves in either direction. Local factors will come into play from Wednesday, when South Africa releases inflation data, a day before the central bank announces its last scheduled interest rate decision of the year. Analysts said with the market expecting the central bank to hold interest rates at 5.75 percent on Thursday, the rand would look for direction elsewhere. "The global backdrop will continue to drive the direction of rand," said Anisha Arora, emerging market analyst at 4Cast. "We see some downside protection ...

Kenyan shilling weakens as companies seek dollars NAIROBI: Kenya's shilling weakened in early trade on Tuesday, driven by demand for dollars from importers and manufacturers.By 0718 GMT, the shilling was trading at 90.05/15 to the US currency, lower than Monday's close of 89.80/90."We have weakened in early morning trade on the back of corporate demand," said Sheikh Mehran, head of trading at I&M Bank. "It is a correction from last week's central bank move."The shilling had strengthened to below the 90-level after ...
Ugandan shilling firms on liquidity mop-up, corporate tax payments  KAMPALA: The Ugandan shilling was stronger on Monday, helped by a central bank mop-up of excess liquidity and mid-month corporate tax payments that depressed demand for dollars.Commercial banks quoted the shilling at 2,730/2,740 by 1142 GMT, stronger than Friday's close of 2,740/2,750."We had a mop-up of excess liquidity by the central bank which helped push up the (local) unit," said Sage Daniel Muganza, trader at Centenary Bank."We also think because most corporates are settling their ...
Kenyan shilling firm, stocks close lower NAIROBI: Kenya's shilling was holding firm against the dollar in early trade on Monday after the central bank intervened at the end of last week by selling dollars, lifting the currency from three-year lows, while stocks closed lower.At the close of trade at 1300 GMT, commercial banks quoted the shilling at 89.80/90 to the dollar, compared with Friday's close of 89.90/90.00. "Nothing much has moved, because of the threat of central bank intervention based on ...
Egyptian pound steady on official market, weaker on black market CAIRO: The Egyptian pound was unchanged at a central bank dollar sale on Monday but weakened on the black market.The bank said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from the previous sale 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. The bank offered $40 million ...
Kuwait to let banks trade derivatives, forex forwards move DUBAI: Kuwait's dinar rose sharply against the U.S. dollar in the forwards market on Monday in response to news that the Kuwaiti central bank would allow local banks to deal in derivatives with foreign banks.Al Rai newspaper in Kuwait quoted an unnamed source as saying the central bank had "informed treasury managers at banks that it no longer objects to Kuwaiti banks dealing in derivatives with foreign banks, as long as they deal in products ...
Kuwait forex forwards move on report banks can trade derivatives DUBAI: Kuwait's dinar rose sharply against the US dollar in the forwards market on Monday in response to a report that the Kuwaiti central bank would allow local banks to deal in derivatives with foreign banks.Al Rai newspaper quoted an unnamed source as saying the central bank had "informed treasury managers at banks that it no longer objects to Kuwaiti banks dealing in derivatives with foreign banks, as long as they deal in products approved ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln