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Kenyan shilling steady, Centum leads stocks recovery NAIROBI: The Kenyan shilling was steady on Friday, with demand for the US currency being balanced by the central bank mopping up liquidity, while stocks recovered from the previous day's dip.At close of trade at 1300 GMT, commercial banks quoted the shilling at 88.60/70 per dollar, the same as Thursday's close.Traders said demand for the US currency was balanced by offshore bank sales and a liquidity mop-up by the Central Bank of Kenya.On Friday the bank absorbed 10 billion shillings using seven-day repurchase agreements at a weighted average rate of 8.324 percent.The central bank has regularly soaked up excess liquidity from the money market since last year, which has lent support to the shilling by making it more expensive for banks to hold long dollar positions."We have seen some interbank demand coming through, and also some enquiries from the energy sector, but the pressure on the shilling was mitigated by ...

South Africa's rand flat as investors wait for US jobs data JOHANNESBURG: South Africa's rand barely moved against the dollar early on Friday, taking direction from the euro, which took a breather following a plunge the previous session. The rand will likely trade within its recent ranges until later in the afternoon when the United States releases non-farm payrolls data. Investors are also watching developments in Ukraine and Russia, which, along with the interest rate moves of the core markets such as Europe and the United ...
Kenyan shilling steady, seen in tight range NAIROBI: The Kenyan shilling was steady on Friday and traders said they expected it to trade in a tight range with low volumes.At 0742 GMT, commercial banks quoted the shilling at 88.60/70 per dollar, compared with Thursday's close of 88.60/70.Traders said demand for the US currency was balanced by offshore banks sales and a liquidity mop-up by the Central Bank of Kenya on Thursday."I would say yesterday's action by the CBK to mop up excess ...
Ugandan shilling steady, seen weaker as importers seek dollars KAMPALA: The Ugandan shilling was little changed on Friday, and expected to come under pressure next week as demand for dollars from importers begins to pick up. At 0834 GMT commercial banks quoted the shilling at 2,605/2,615, marginally weaker than Thursday's close of 2,603/2,613. Uganda depends on imports for fuel and consumer goods and a surge in shipments typically weakens the shilling. Traders say merchandise retailers and energy sector players are likely to start building ...
Egyptian pound steady on official, black markets CAIRO: Egypt's pound held steady at a central bank dollar sale on Wednesday, with the bank saying it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Tuesday's rate.In the unofficial market, the pound was also steady, trading at 7.38 to the dollar, one trader said.The rate for dollar sales has stayed in a very tight range since the beginning of June, after the bank allowed the pound to weaken ...
Kenyan shilling steady, seen weaker on scant dollar supply NAIROBI: The Kenyan shilling was little changed against the dollar on Thursday and traders said they expected it to trade with a weakening bias in coming days due to scant dollar supply.Traders said the shilling was unlikely to be moved by the central bank's decision on Wednesday to hold its benchmark lending rate at 8.50 percent, in line with what traders had earlier expected. The rate has remained unchanged since May 2013.At 0730 GMT, commercial ...
South Africa's rand stronger, ECB to provide direction JOHANNESBURG: Improved business confidence helped South Africa's rand strengthen against the US dollar on Thursday, while comments from the European Central Bank (ECB) should provide direction later. The local unit edged towards the firmer end of a recent range, strengthening by 0.13 percent to 10.6750 per dollar by 0627 GMT. Business sentiment in South Africa recovered from a 15-year low in August, according to two surveys released in the previous session, giving the rand a ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln