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South Africa's rand under pressure before production data JOHANNESBURG: South Africa's rand weakened towards a seven-month low against the dollar on Thursday ahead of output data expected to show the economy's key sectors are not growing. Investors are bracing for mining and manufacturing numbers, with both sectors forecast to have contracted in July as the effects of strikes and production stoppages hit output. Mining is a big foreign exchange earner in South Africa, while manufacturing is the second biggest sector of the economy. Both industries are in recession and dragged the whole economy to a 0.6 percent contraction in the first quarter of the year. GDP managed a 0.6 percent expansion in the second quarter, effectively putting growth at zero in the first half of the year. At 0621 GMT, the rand was down over 0.3 percent at 10.9625 to the dollar. It breached the 11 mark to hit a seven month low in the previous session but ...

Ugandan shilling weakens as banks, importers seek dollars KAMPALA: The Ugandan shilling was a touch weaker on Wednesday, weighed down by demand for dollars from commercial banks and importers, although the local currency was seen recouping losses from offshore inflows.At 1108 GMT commercial banks quoted the shilling at 2,605/2,615, weaker than Tuesday's close of 2,602/2,612."Some players in the interbank have been exerting demand and it has pushed the shilling higher (weaker)," Faisal Bukenya, head of market making at Barclays Bank, said.The shilling is ...
Kenyan shilling weakens, stocks up on bourse's newly-listed shares NAIROBI: The Kenyan shilling weakened on Wednesday due to dollar demand from importers in the energy and telecommunications sectors, while stocks rose for the fourth straight session.At close of trade at 1300 GMT, commercial banks quoted the shilling at 88.75/85 to the dollar, compared with Tuesday's close of 88.60/70.John Muli, trader at African Banking Corporation, said demand was overwhelming the trickle of dollars into the market, but the central bank was helping to support the ...
Kenyan shilling eases under pressure from energy dollar buyers  NAIROBI: The Kenyan shilling weakened on Wednesday due to dollar demand from importers in the energy and telecommunications sectors, and traders said the local currency could lose even more ground.At 0749 GMT, commercial banks quoted the shilling at 88.70/80 to the dollar from Tuesday's close of 88.60/70."There's continued (dollar) demand, especially from the energy, oil and telecoms sectors. So it's putting the unit under pressure for now," a senior trader at one commercial bank said."We ...
South Africa's rand under pressure as dollar rallies JOHANNESBURG: The rand hit its weakest level in seven months against the US dollar on Wednesday as the greenback gained over major currencies and investors continued to dwell on South Africa's wider current account deficit. At 0638 GMT the local unit traded at 10.9550, a 0.31 percent drop from the previous day's close in New York. In fixed income, the yield on the benchmark 2026 paper dipped half a basis point to 8.185 percent. The ...
Kenyan shilling steady, stocks close higher on NSE listing NAIROBI: The Kenyan shilling was steady on Tuesday, supported by a second straight day of central bank action in the money market as demand for dollars from importers picked up, while stocks closed higher, helped by the listing of the Nairobi Securities Exchange.On its first day of trading, demutualised Nairobi Securities Exchange's share jumped to an intraday high of 18.00 shillings from its initial public offering price of 9.50 shillings, but reversed some of its ...
Ugandan shilling stable as players stay on sidelines ahead of auction KAMPALA: The Ugandan shilling remained stable on Tuesday with traders anticipating little change ahead of a Treasury auction this week, which the country hopes will draw healthy inflows from foreign investors.At 1025 GMT commercial banks quoted the shilling at 2,600/2,610, unchanged from Monday's close."I don't think we'll see a lot of activity in terms of taking positions before auction results come through," said Shahzad Kamaluddin, a trader at Crane Bank."The shilling will probably keep this ...


Index Closing Chg%
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln