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Middle East & Africa


South Africa's rand stutters as central bank relief impact wears off JOHANNESBURG: South Africa's rand snapped two days of gains against the dollar on Wednesday as the euphoria from President Jacob Zuma appointing a new central bank governor wore off and markets looked ahead to a US Federal Reserve policy statement. Markets are pricing in higher interest rates in the world's biggest economy, which would whittle down investors' appetite for high-yielding emerging market assets like the rand. At 0627 GMT, the local unit traded 0.3 percent softer at 11.2240 to the greenback compared with its New York close on Tuesday."The rand is slightly weaker this morning, but we would expect rand participants to largely mark time ahead of tonight's (Fed) minutes," Barclays Africa said in a note. "The rand and other EM currencies are likely to come under renewed selling pressure if the minutes reveal a hawkish tone." Government bonds edged higher after Tuesday's weekly auction attracted strong demand, with the ...

South Africa's rand slips as consumer confidence dips JOHANNESBURG: South Africa's rand weakened on Friday as flagging consumer confidence added to mounting economic concerns, while US payrolls later in the session could provide fresh direction. South Africa's consumer confidence slipped by 5 points to -1 in the third quarter of 2014, a survey showed, adding to a trade deficit that rose sharply in the third quarter and risks of further labour disruptions. At 0614 GMT the rand had slipped 0.17 percent to 11.2050 ...
Kenyan shilling little changed, traders keep eye on central bank NAIROBI: The Kenyan shilling was little changed on Friday, with traders saying they expected it to remain under pressure due to underlying importer demand, barring any action by the central bank.At 0740 GMT, commercial banks quoted the shilling at 89.25/35 to the dollar, compared with Thursday's close of 89.20/45.Traders said they have been trading cautiously every time the shilling approached the 89.50 level. They also said they are watching for any action by the Central ...
Ugandan shilling flat, seen stronger on inflows from offshore investors KAMPALA: The Ugandan shilling was stable on Wednesday after a decline in dollar demand, but traders said the local currency could benefit from offshore investors attracted by a rise in debt yields.At 1053 GMT commercial banks quoted the shilling at 2,645/2,655, little changed from Tuesday's close of 2,647/2,657.Yields rose across all tenors at a Treasury bill auction on Wednesday where a total of 145 billion shillings ($54.78 million) worth of debt was up for sale."The ...
Kenyan shilling, stocks shrug off GDP rise to hold steady NAIROBI: The Kenyan shilling and main stock market index were flat on Tuesday, shrugging off a jump in the gross domestic product of East Africa's biggest economy after the authorities changed the base calculation year.Foreign exchange and stock market traders said both markets had factored in a rise of Kenya's GDP, now estimated to be 25 percent bigger after the base calculation year was changed to 2009 from 2001.At close of trade at 1300 GMT, ...
South Africa's rand falls to fresh 8-month low after poor trade data JOHANNESBURG: South Africa's rand continued a downward spiral against the dollar on Tuesday, tumbling to fresh eight-month lows after the revenue service reported a sharp widening of the trade deficit.The trade account recorded a 16.3 billion rand ($1.44 billion) shortfall in August, its biggest gap in seven months.The poor trade data compounds South Africa's economic problems brought about by expected policy normalisation in the United States. South Africa's wide current account deficit, fed by a ...
Kenyan shilling weakens, Centum leads stocks higher NAIROBI: The Kenyan shilling weakened on Monday due to increased importer demand for dollars, while stocks closed higher lifted by investment firms.At close of trade at 1300 GMT, commercial banks quoted the shilling at 89.30/40 to the dollar, compared with Friday's close of 89.10/20.Earlier in the session, traders said the shilling was expected to weaken as the month drew to a close, due to demand from importers in sectors like manufacturing and energy.Traders said demand ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln