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Egyptian pound steady at auction, parallel market CAIRO: Egypt's central bank held the Egyptian pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday after a depreciation earlier this month. The currency also remained unchanged on the parallel market. The central bank said it had offered $40 million and sold $37.5 million at a cut-off price of 7.7301 pounds per dollar , unchanged from Sunday's rate. The central bank had held the pound at 7.5301 for the past five months until earlier this month, when it allowed it to weaken to 7.6301. On July 5, the bank let it slide a further 0.10 pounds. Analysts say letting the pound weaken in a controlled way could boost exports and attract further investment, but also raises Egypt's large bill for imported fuel and food staples. Egypt has sought to tame a once-thriving currency black market with measures such as a cap on dollar-denominated bank deposits. The ...

Ugandan shilling holds steady as liquidity tightens KAMPALA: The Ugandan shilling held steady on Tuesday on the back of tighter liquidity in money markets as companies paid their mid-month taxes. Commercial banks quoted the shilling at 3,290/3,320 against the dollar at 0902 GMT, unchanged from Monday's close. "Liquidity is very tight as we have not had any injections in days," said Shahzad Kamaluddin, a trader at Crane Bank. Kamaluddin said the market now expects the currency to strengthen, aided by a combination ...
Kenyan shillings hits fresh 3-1/2 year low on energy sector dollar demand NAIROBI: Kenya's shilling weakened to a new 3-1/2-year low against the dollar on Monday, hurt by demand for the US currency from energy and manufacturing sectors.At 0635 GMT, commercial banks quoted the shilling at 102.50/70 to the dollar, compared with Friday's close of 101.85/95. Down about 14 percent against the dollar this year, the shilling is trading at a level last seen in October 2011.A trader at one Nairobi-based commercial bank said several orders which ...
Egyptian pound steady at auction, stronger on parallel market CAIRO: Egypt's central bank held the Egyptian pound steady at 7.73 per dollar for the third straight foreign exchange auction on Sunday after a depreciation earlier this month. The currency strengthened on the parallel market. The central bank said it had offered $40 million and sold $37.5 million at a cut-off price of 7.7301 pounds per dollar , unchanged from Thursday's rate. The central bank had held the pound at 7.5301 for the past five ...
Nigeria naira hits fresh low on black market as govt funds hit currency LAGOS: Nigeria's naira hit fresh lows against the dollar on the parallel market on Friday, after a government liquidity injection to help cash-strapped states offset a funding crisis hit the currency, traders said. The currency of Africa's biggest economy fell to a new record low of 240 on the parallel market, down 2.1 percent on the day, as persistent dollar shortages continued, two traders said. Aminu Gwadabe, president of Nigeria's Bureau de Change association said ...
South Africa's rand snaps losses as risk aversion abates JOHANNESBURG: South Africa's rand snapped four straight days of losses against the dollar on Thursday, shrugging off weak domestic data as global investors focussed on euro zone efforts to resolve Greece's debt problems.South Africa's manufacturing sector remained under pressure in May, shrinking 1.4 percent year-on-year after a 2.1 percent contraction in April.But the rand climbed as much as 1 percent to a session high of 12.4440/dollar, and was up 0.37 percent on the day at ...
Ugandan shilling breaches key level, falls to record low KAMPALA: The Ugandan shilling breached a key psychological level and weakened to a record low on Wednesday after a surge in demand for dollars from energy companies. At 0805 GMT commercial banks quoted the shilling at 3,510/3,520, weaker than Thursday's close of 3,475/3,485. "The energy sector players have been out for some time but they're now coming in with demand," said Faisal Bukenya, head of market making at Barclays Bank.However, Bukenya said, the shilling's depreciation ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune-July
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln