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Middle East & Africa


Nigeria naira quoted at record low of 198.95 to dollar LAGOS: The naira hit a new record low on Tuesday on thin dollar liquidity, amid concerns over political stability after a six-week delay to Nigeria's presidential election.The naira was quoted at a record low of 197.3 to dollar by market open and quickly fell to 198.95 by 0822 GMT, Thomson Reuters data showed.Nigeria's electoral commission said late of Saturday it would postpone the Feb. 14 presidential election until March 28 due to security concerns.Copyright Reuters, 2015 ...

Kenyan shilling weaker on dollar buying by companies, importers  NAIROBI: Kenya's shilling weakened on Tuesday on corporate demand for the US currency, reversing the gains made last week after an unexpected influx of foreign direct investment.By 0850 GMT, the shilling was trading at 91.65/75 to the dollar, after closing at 91.50/60 to the dollar on Monday."We've surrendered all the gains made last week, as demand (for the dollar) has picked up following a period of relatively good dollar inflows," said Duncan Kinuthia, head of ...
Ugandan shilling weaker on dollar demand by energy sector KAMPALA: The Ugandan shilling weakened slightly on Tuesday, undermined by dollar demand from the energy sector but it was expected to hold largely stable in the days ahead.At 0922 GMT commercial banks quoted the shilling at 2,858/2,868, compared with Monday's close of 2,855/2,865."Today's weakening was driven by some demand that we saw from energy sector players," said Faisal Bukenya, head of market making at Barclays Bank Uganda.Bukenya said the shilling's weakening was expected to be ...
Nigeria naira at fresh low despite central bank dollar sale LAGOS: The Nigerian naira hit a new record low of 200.02 to the dollar on Tuesday despite a central bank intervention to try to halt its slide.The unit fell 1.4 percent from its opening value of 197.30 naira to the dollar, Thomson Reuters data showed. The central bank sold an undisclosed amount of dollars but it was not sufficient to support the naira, dealers said.Copyright Reuters, 2015 ...
South Africa's rand slumps nearly 1 pct, bonds soften in risk-averse trade JOHANNESBURG: South Africa's rand slumped nearly 1 percent against the dollar on Monday, the weakest performance among 25 emerging market currencies, as renewed concerns about political turmoil in Ukraine and Greece's debt woes dented risk appetite.The domestic economy's dim economic prospects were also a drag on sentiment, with rolling electricity blackouts as state power utility Eskom struggles to meet demand expected to cut growth this year.At 1618 GMT the local unit was down 0.8 percent ...
Naira slides again as Nigeria election pushed back LAGOS: The Nigerian naira slid to a record low on Monday after a six-week delay to the Feb. 14 presidential election that is stirring concerns about political stability and the central bank's ability to manage a currency hammered by weak oil prices.Despite central bank intervention, the currency of Africa's biggest economy and top oil producer closed at 196.50 against the dollar, extending its slide since the start of November to 18 percent.The currency has been ...
Kenyan shilling weakens, Safaricom helps stocks recover NAIROBI: Kenya's shilling weakened on Monday on dollar demand from oil companies and increased liquidity, while mobile telecoms operator Safaricom helped shares recover.The shilling closed at 91.50/60 to the dollar, compared with Friday's close of 91.25/35."It's due to improved liquidity in the market and mid-month (dollar) demand. Oil as usual. They picked a bit, and a bit of other corporates," said John Muli, a trader at African Banking Corporation.Martin Runo, a senior trader at Chase ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln