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Ugandan shilling weaker on dollar demand from energy firms KAMPALA: The Ugandan shilling was weaker on Monday on dollar demand from energy and telecoms companies, although hard currency inflows from charities slowed the currency's decline.At 1120 GMT commercial banks quoted the shilling at 2,770/2,780, weaker than Friday's close of 2,762/2,772."Energy sector players are buying (dollars)... that's putting significant pressure on the shilling," said Ahmed Kalule, trader at Bank of Africa.Kalule said the global strength of the greenback was also feeding a negative market sentiment on the shilling's outlook.The shilling is 9 percent weaker against the greenback so far this year.Faisal Bukenya, head of market making at Barclays Bank, said telecoms companies were also buying dollars, but hard currency inflows from non-governmental organisations were "cushioning some of the pressure otherwise the shilling would have lost more."The charities are converting some of their hard currency holdings for early payment of December salaries and any other outstanding operational expenses for the year, ...

Nigerian naira gains on oil firms' dollar sales LAGOS: Nigeria's naira firmed against the dollar on the interbank market on Monday, supported by dollar sales by two energy companies and a naira cash shortage in the banking system, traders said, adding that they expected further gains this week.The local currency closed at 178.70 to the dollar, 0.66 percent firmer than 179.90 it closed at Friday.A unit of French oil company Total sold $74 million to some lenders, while Nigerian Liquefied natural Gas (NLNG) ...
Kenyan shilling seen firmer on remittances, shares fall NAIROBI: Kenya's shilling eased on Monday but was seen firming on dollar inflows before the holiday season sent by Kenyans abroad, while Safaricom dragged stocks lower.At close of trade at 1300 GMT, commercial banks quoted the shilling slightly weaker at 90.60/70 to the dollar compared with Thursday's close of 90.55/65. Kenyan markets were closed on Friday for a national holiday.Dollar demand from importers led to the shilling's fall, Julius Kiriinya, a trader at African Banking ...
Egyptian pound steady on official and unofficial markets CAIRO: The Egyptian pound held steady at a central bank dollar sale on Monday and was unchanged on the unofficial market after the government established a fourth weekly dollar auction.The bank offered $40 million and said it had sold $38 million at a cut-off price of 7.1401 pounds a dollar, a rate unchanged from its last sale on Sunday.The rates at which banks are allowed to trade dollars are determined by the results of central ...
Kenyan shilling holds steady, traders see holiday boost NAIROBI: Kenya's shilling held steady early on Monday but traders said they expected it would strengthen in coming weeks as Kenyans abroad sent dollars back to their families during the holiday season.The shilling was 90.50/70 to the dollar at 0700 GMT, marginally stronger than the 90.55/65 at the close of trade on Thursday, when the central bank sold dollars to help pull the local currency off a 3-year low earlier in the session.Kenyan markets were ...
South Africa's rand firms after Fitch maintains rating JOHANNESBURG: South Africa's rand firmed against the US dollar on Monday, recouping some recent losses after ratings agency Fitch surprised markets by not downgrading its credit view on Africa's most developed economy. Fitch said growing current account and budget deficits were restricting growth in South Africa's economy but maintained its BBB rating, while Standard & Poor's kept its rating at BBB-, one notch above junk status. Analysts said this would provide only brief respite as ...
Egyptian pound steady at official auction, stronger on black market CAIRO: The Egyptian pound held steady at a central bank dollar sale on Sunday, but strengthened on the unofficial market after the government established a fourth weekly dollar auction.The bank offered $40 million and said it had sold $38.2 million at a cut-off price of 7.1401 pounds a dollar, a rate unchanged from its last sale on Thursday.The rates at which banks are allowed to trade dollars are determined by the results of central bank ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln