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Middle East & Africa


Kenyan shilling steady, seen in trading in tight range NAIROBI: The Kenyan shilling was steady on Thursday and traders said it was expected to keep in a tight range against the US dollar in the coming days.At 0639 GMT, commercial banks quoted the shilling at 86.45/55 to the dollar, unchanged from Wednesday's close. Traders said they forecast the shilling would trade between 86.20 to 86.60 in the next few days."We have seen very little activity from both the interbank and corporate (clients), an indicator that demand and supply could be well-matched," said Duncan Kinuthia, head of trading at Commercial Bank of Africa.Traders said they were watching for any central bank action in the money markets. On Monday, it mopped up 4.43 billion shillings in excess liquidity."The market is very stable. No movements. We'll watch what central bank does," said Andlip Nazir, senior trader at I&M Bank. Copyright Reuters, 2014 ...

South African rand could weaken as market sees tighter US policy JOHANNESBURG: South Africa's rand was largely flat against the dollar in early Thursday trade but could extend overnight losses in the wake of comments from the US central bank which heightened expectations of policy tightening in the world's largest economy. By 0651 GMT the local unit was trading at 10.8695 to the dollar, little changed from Wednesday's close at 10.8680 in New York.The local currency had rallied to 10.6810 on Wednesday, but retreated alongside other ...
Nigerian naira eases as banks cover short dollar positions LAGOS: Nigeria's naira eased against the US currency on Wednesday, driven by strong dollar demand from some lenders trying to cover their short positions on the greenback, dealers said. The local unit closed at 164.80 naira to the dollar, weaker than Tuesday's close of 164.40 naira. The local units of two foreign banks sold dollars on Tuesday to boost interbank liquidity, but other lenders bought up hard currency to cover their short positions, dealers said. ...
South Africa's rand, bonds hold steady ahead of data JOHANNESBURG: South Africa's rand steadied against the dollar early on Wednesday with investors wary of taking strong positions before inflation data and the Federal Reserve's interest rate meeting. The rand tracked the sideways move on euro/dollar to trade at 10.7455 to the dollar by 0633 GMT, little changed from Tuesday's close in New York at 10.7395. South Africa is releasing keenly awaited February consumer inflation data at 0800 GMT, which will give clues about interest ...
South Africa's rand steadies vs dollar, seen weakening JOHANNESBURG: South Africa's rand was steady against the dollar early on Tuesday with investors reluctant to take large positions ahead of key US data on Wednesday. The rand was at 10.7745 to the dollar at 0640 GMT, slightly weaker but not far off a 10.7710 close in New York on Monday. Dealers said the rand was likely to weaken in the session, especially if US inflation and housing data comes out stronger than expected. The ...
South Africa's rand starts week looking vulnerable against dollar JOHANNESBURG: The rand weakened against the dollar on Monday, starting the week on the back foot ahead of events such as a US Federal Reserve meeting and domestic inflation data during a shortened week locally.The Fed will hold a monetary policy meeting on Wednesday after Statistics South Africa releases February inflation and January retail sales data.South African markets will be closed for a national holiday on Friday. Analysts expect that global developments will mainly drive ...
Kenyan shilling steady, bond auction may attract foreigners NAIROBI: The Kenyan shilling was steady on Monday and traders said foreign investor inflows for a Treasury bond on sale this week could offer support for the currency amid ample liquidity.At 0654 GMT, commercial banks quoted the shilling at 86.40/50 to the dollar, unchanged from Friday's close."There seems to be a little bit of mid-month dollar demand from corporates that we expect, so this will put some pressure on the shilling," said Nahashon Mungai, trader ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln