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Kenya shilling steady, liquidity tight NAIROBI: The Kenyan shilling was steady on Tuesday and tipped to stay in a narrow range, supported by tight money markets.At 0801 GMT, commercial banks quoted the shilling at 87.75/85 to the dollar, compared with Monday's close of 87.80/85.The weighted average interbank lending rate rose to 10.5181 percent on Monday from 10.1280 percent on Friday, indicating a liquidity squeeze.Traders said liquidity was likely to remain scarce for a while, offering support to the shilling by making it slightly more expensive to fund long dollar positions."We don't see any sign of a reprieve because we haven't seen much government spending yet," Nahashon Mungai, trader at KCB Bank Group, said.He said were was some demand for dollars on Friday and Monday, and there was a bias for the shilling to gain ground once this subsided.Traders forecast the shilling, which has lost 1.3 percent this year, would trade in the 87.60 to 88.05 ...

Ugandan shilling weakens on dollar demand, aid worries KAMPALA: The Ugandan shilling lost ground on Tuesday on dollar demand from banks and worries that Western donors were unlikely to restore aid swiftly after a widely criticised anti-gay law was nullified last week.At 0927 GMT commercial banks quoted the shilling at 2,615/2,625, weaker than Monday's close of 2,610/2,620."There's demand by some of the banks who are short on the dollar and it's hitting the shilling," said Faisal Bukenya, head of market making at Barclays ...
South Africa's rand rangebound, could weaken on PMI JOHANNESBURG: South Africa's rand traded within a narrow range against the dollar on Tuesday, with scope to weaken if an HSBC survey at 0715 GMT points to deteriorating confidence in the manufacturing sector. At 0651 GMT the rand was at 10.6740 to the greenback, just 0.2 percent softer than Monday's close. Government debt edged higher, with the yield for paper maturing in 2026 dipping 2 basis points to 8.26 percent. The yield on the shorter-dated ...
Kenyan shilling steady, traders eye liquidity NAIROBI: The Kenyan shilling was steady on Monday and traders said they expected it to stay in a narrow band against the dollar due to tight liquidity in the money markets.At 0742 GMT, commercial banks quoted the shilling at 87.80/90 to the dollar, unchanged from Friday's close.Traders said tight shilling liquidity would balance out any demand for the US currency."With liquidity still expected to be tight this week attributed to minimal government spending, the dollar ...
Egyptian pound steady at central bank sale and on black market CAIRO: The Egyptian pound remained stable at a central bank dollar sale on Monday and on the black market.The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Thursday.The rate for the dollar sales has stayed within a very tight range since the beginning of June, after the bank allowed the pound to weaken in May. It had offered $40 million on ...
Tunisia dinar drop shows momentum for reform TUNIS/DUBAI: Weakness of Tunisia's dinar is undermining the purchasing power of its citizens and evoking memories of the country's economic crisis after its 2011 revolution. But this time, the dinar's depreciation may point to a stronger financial future.For the past four months, the central bank has permitted a slide of the dinar against both the euro and the U.S. dollar, ending a period of several months in which the bank intervened to keep the currency ...
Ugandan shilling building on gains made after anti-gay bill scrapped KAMPALA: The Ugandan shilling was stable on Monday and traders said they expect the currency to build on gains made after a court overturned an anti-gay law that drew Western criticism and halted aid payments.At 0830 GMT commercial banks quoted the shilling at 2,610/2,620, unchanged from Friday's close.The local currency firmed 0.3 percent on Friday after Uganda's constitutional court rescinded the anti-gay law which punished gay sex with lengthy jail sentences."The outlook still favours the ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln