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Kenya shilling under pressure from dollar demand NAIROBI: The Kenyan shilling weakened on Thursday as oil importers sought dollars to meet their end-of-month obligations.At 0730 GMT, commercial banks posted the shilling at 86.75/85, down from the previous day's close of 86.65/75."We are still seeing demand coming in, predominantly from oil marketers ... we could see this demand continue well into next week," said Peter Mutuku, a corporate dealer at Bank of Africa.Before the demand kicked in, the shilling had been held in a tight band of 86.30-86.70 per dollar. Pressure from lower overnight borrowing rates on the interbank market were offset by the central bank's mopping up of excess liquidity.Copyright Reuters, 2014 ...

South Africa's rand firms near recent high vs dollar JOHANNESBURG: The rand edged towards its highest in a week against the dollar on Thursday as global risk sentiment remained supportive and investors priced in tighter monetary policy later in the year. The Reserve Bank is announcing a decision on interest rates from 1300 GMT and economists polled by Reuters expect the Monetary Policy Committee will stay put on rates after a hike in January. The rand has recovered from five-year lows hit at the ...
Kenya shilling holds steady, shares inch lower  NAIROBI: The Kenyan shilling was barely changed against the dollar on Wednesday, unable to break out of its recent ranges, while shares inched lower as earnings reports came in.At the 1300 GMT close of the market, leading commercial banks posted the shilling at 86.65/75 per dollar, barely moved from the previous day's closing rate of 86.60/70.Traders said it was likely to be stuck in a narrow band of 86.30-86.70 in the next few days.They cited ...
South Africa's rand at week high vs dollar JOHANNESBURG: South Africa's rand touched its strongest in a week against the dollar on Wednesday, as a recovery in global sentiment boosted riskier, high-yielding assets.Hopes that China would take steps to support its slowing economy helped the upbeat sentiment. Recent data from the world's second-biggest economy has put pressure on resource-heavy currencies such as the rand.China is also a major consumer of South Africa's exports, and a slow-down there would depress the already struggling domestic ...
South Africa's rand holds steady but looks vulnerable JOHANNESBURG: The rand held steady against the dollar early on Monday but looked unlikely to gain significant ground amid fresh fears about economic growth in China, a major trading partner to South Africa. Chinese manufacturing looked as though it contracted in the first quarter of the year as the March Markit/HSBC Purchasing Managers' Index fell to an eight-month low. The index has stayed below the 50 mark, signifying contraction, since January. South Africa's rand was ...
Kenya shilling inches up on profit-taking NAIROBI: The Kenyan shilling edged up against the dollar on Monday as some market participants booked recent gains, traders said.At 0710 GMT, commercial banks posted the shilling at 86.55/65 per dollar, slightly up from Friday's close of 86.60/70."Looks some profit taking and some mild (dollar) flows coming into the market," said Duncan Kinuthia, head of trading at Commercial Bank of Africa.The shilling has been under some pressure in recent weeks due to a drop in ...
Zambia scraps foreign exchange restrictions LUSAKA: Zambia scrapped on Friday restrictions on the use of dollars and other foreign currencies as it tried to halt the slide in its currency, which has lost nearly a fifth of its value in recent months."The continuous falling of the kwacha is of concern to us," Finance Minister Alexander Chikwanda said at a news conference announcing the immediate revocation of the foreign exchange restrictions.After having held steady around 5.50 to the US dollar for ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln