07302016Sat
Last update: Sat, 30 Jul 2016 04am

Middle East & Africa

Markets - FXMM - Middle East & Africa

Nigeria sells 112bn naira treasury bills, yields rise LAGOS: Nigeria sold 79.45 billion nairas ($282.74 million) of three-month to one-year treasury bills on Wednesday at higher yields than at its previous auction, the central bank said on Friday. The bank said it sold 18.12 billion naira of three-month paper at a yield of 9.99 percent, up from 8 percent at a sale on June 15. It raised 11.33 billion naira of six-month debt at 12.3 percent against 9.35 percent, while a total of 50 billion naira of one-year paper was sold at 14.99 percent compared with 11.99 percent previously. Total subscriptions fell to 111.66 billion naira from 312.26 billion naira at the previous auction.Africa's biggest economy issues treasury bills to banks and non-financial institutions to help ease government cash flow, manage banking system liquidity and curb inflation. Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

South Africa's rand gains on British referendum, stocks flat JOHANNESBURG: South Africa's rand stretched a recent rally into its fifth day on Thursday, defying technical and fundamental odds to trade at its firmest in over one month as Britain voted on its European Union status. Stocks were flat, failing to find footing in the volatile global markets as investors cautiously eyed the outcome of the British vote. By 1530 GMT the rand had firmed 0.96 percent to 14.4800 per dollar as overnight polls indicating ...

Markets - FXMM - Middle East & Africa

South Africa's rand firmer, eyes on British referendum JOHANNESBURG: South Africa's rand extended gains against the dollar in early trade on Thursday as cautious optimism that British voters would opt to stay in the European Union in the session helped risk appetite. At 0635 GMT, the rand traded at 14.5920 per dollar, 0.2 percent firmer from its New York close on Wednesday. The currency is trading at its strongest levels against the dollar since May 3, according to Thomson Reuters data.Focus was on ...

Markets - FXMM - Middle East & Africa

South Africa's rand firms after CPI slows, stocks up JOHANNESBURG: South Africa's rand marked a fourth straight session of gains against the dollar on Wednesday, aided by a surprise slowing of inflation locally and improved risk conditions abroad. Stocks benefited from rising global markets as investors grew more optimistic Britain would vote to remain in the European Union in its referendum on Thursday. Investors largely ignored election-linked violence in the capital Pretoria where two people were shot dead. By 1500 GMT the rand had ...

Markets - FXMM - Middle East & Africa

Nigeria naira ends with first daily gain since peg ditched LAGOS: Nigeria's naira firmed to close at 281.50 to the dollar on Wednesday, its first daily gain since the central bank ditched its 16-month old peg on the currency on Monday. The naira, which slumped 30 percent at its float on Monday, has traded as weak as 285 to the dollar. It firmed on Wednesday following a central bank dollar sale to improve dollar liquidity.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Nigeria naira firms on thin volumes as traders eye dollar liquidity LAGOS: Nigeria's naira firmed to 281.72 in early trades on Wednesday on thin dollar volumes, traders said, on its third day as a floating currency after the central bank ditched a 16-month old peg on the exchange rate.The naira opened at 282 to the greenback, after closing weaker at 284 the previous day, traders said. The Nigerian currency slumped 30 percent at its float on Monday.Indicative rates on Wednesday showed banks were quoting to buy ...

Markets - FXMM - Middle East & Africa

Kenyan shilling steady, cautious before Brexit vote NAIROBI: The Kenyan shilling was stable on Wednesday in slow business with many market players staying on the sidelines to await the outcome of Britain's referendum on whether to exit the European Union, traders said.Copyright Reuters, 2016 ...