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Kenyan shilling weakens on dollar demand, travel warnings to weigh  NAIROBI: Kenya's shilling weakened on Monday as banks bought dollars, while traders said the shilling would remain under pressure due to new travel warnings that could hurt the ailing tourism sector.By 0817 GMT, commercial banks quoted the shilling at 92.30/40 to the dollar against Friday's close of 92.15/25.One trader at a Nairobi-based commercial bank said the shilling lost ground at the start of the trading session as banks bought dollars on the interbank market, to cover their short positions."We've seen early dollar demand which pushed the shilling down," said the trader.Traders have said some banks had taken short dollar positions to meet demand for shillings by the offshore investors seeking a government bond last week, but were now seeking dollars.Joshua Anene, a trader at Commercial Bank of Africa, said the shilling is likely to remain under pressure as travel warnings issued by Western countries further dent the tourism industry and ...

Egyptian pound steady on official, weaker on black market CAIRO: Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Monday, and the domestic currency weakened on the black market.The central bank has kept the official exchange rate steady for more than a month after letting the pound weaken in an attempt to wipe out black-market trading.The bank said it offered $40 million at auction and sold $38.7 million at a cut-off price of 7.5301 ...
South Africa's rand extends losses against dollar, bonds weaker JOHANNESBURG: South Africa's rand extended losses against the dollar early on Monday after a statement by U.S. Federal Reserve Chair Janet Yellen on Friday signalled the bank was on course to raise interest rates later this year, stoking greenback buying.By 0645 GMT the rand had softened 0.28 percent to a week-low of 12.0690 per dollar, remaining above the crucial technical level that is likely to see the unit weaken further towards 2002 lows of 12.6500.The ...
Egyptian pound steady on official, stronger on black market CAIRO: Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Sunday, and the domestic currency strengthened on the black market.The central bank has kept the official exchange rate steady for more than a month after letting the pound weaken in an attempt to wipe out black-market trading.The bank said it offered $40 million at auction and sold $38.7 million at a cut-off price of 7.5301 ...
Kenyan shilling weakens on importer demand, stocks fall NAIROBI: Kenya's shilling weakened on Thursday, undermined by importer demand and the International Monetary Fund's view that the local currency was over valued.The main shares index fell on profit-taking.At close of trade, commercial banks quoted the shilling at 92.00/10 to the dollar, from Wednesday's close of 91.75/85.The IMF country representative told Reuters the shilling was over valued by about 5 to 10 percent to the dollar but demand for imports and other market pressures were ...
South Africa's rand extends losses on dollar strength JOHANNESBURG: South Africa's rand extended losses against the dollar on Thursday, despite a hawkish monetary policy statement, mainly reflecting broad-based strength of the greenback against major currencies.Government bonds also weakened sharply, with the yield for the 2026 benchmark up as much as 16.5 basis points to 7.780 percent.Copyright Reuters, 2015 ...
Kenya shilling edges lower, corporate dollar demand weighs NAIROBI: Kenya's shilling weakened slightly on Thursday as the usual end-month corporate demand for dollars outweighed support from foreign exchange inflows after an oversubscribed bond auction.By 0735 GMT, the shilling was trading at 91.80/92.00 to the dollar, dipping from Wednesday's close of 91.75/85. Traders said it had opened the session slightly firmer at 91.70/80."I think the shilling will remain a bit on the back foot as we approach the end of the month," Martin Runo, ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln