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Middle East & Africa


Kenyan shilling little changed, inflation figures eyed NAIROBI: The Kenyan shilling was barely moved on Monday as traders eyed inflation data due out later in the session.At 0732 GMT, commercial banks quoted the shilling at 87.55/65 to the dollar, compared with Friday's close of 87.60/70."The shilling looks like it is stuck in a rut, trading between 87.20-88," Duncan Kinuthia, head of trading at Commercial Bank of Africa.Traders said inflation data is expected to show a slight uptick, which could push it above the Central Bank of Kenya's upper target limit of 7.5 percent. The bank targets inflation of 5 percent but allow a 2.5 percentage points swing on both sides."What we would be keen to see is what the MPC says because all their previous assumptions were that inflation is low," Kinuthia said.Copyright Reuters, 2014 ...

South Africa's rand holds steady before trade data JOHANNESBURG: South Africa's rand held steady against the dollar early on Monday, opening the week still supported by a soft greenback environment but likely to trade sideways ahead of key trade data. At 0635 GMT, the rand was up at 10.5845 to the dollar, just slightly firmer than a 10.5900 close in New York on Friday. It has hit a session high of 10.5775 so far and with the dollar still pressured by weak economic ...
Egypt pound stable on official market, slightly stronger on black market CAIRO: The Egyptian pound was steady at a central bank dollar sale on Thursday and slightly stronger on the black market. The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds, unchanged from its last sale on Wednesday. It had offered $40 million.The dollar was offered for 7.39 pounds on the black market on Thursday, one trader said, slightly stronger than the 7.40 rate a day earlier. The rates at ...
Kenyan shilling weakens on end-of-month dollar demand NAIROBI: The Kenyan shilling lost ground on Wednesday due to dollar demand at the end of the month from companies looking to pay their bills, and traders said the currency was likely to stay under pressure in coming days.At 0800 GMT, commercial banks posted the shilling at 87.75/85 per dollar, compared with 87.40/60 at Wednesday's close."We attribute this weakness to end-of-month demand from the manufacturing (sector) and importers," said Andlip Nazir, senior trader at I&M ...
South Africa's rand rallies as US data hits dollar JOHANNESBURG: South Africa's rand was firmer against the dollar on Thursday, taking advantage of a weaker U.S currency pummelled by data indicating the world's largest economy shrank by close to 3 percent in the first quarter. The end to a five-month platinum strike also helped to lift the local unit for the second straight session as it pushes towards the 10.55 support level it touched briefly on Wednesday. The rand traded at 10.57 per dollar ...
Kenyan shilling weakens on energy sector demand for dollars NAIROBI: The Kenyan shilling lost ground on Wednesday on demand for dollars by energy companies, with traders expecting the local currency to weaken again in coming days.At 0710 GMT, commercial banks posted the shilling at 87.60/70 per dollar, compared with 87.45/55 at Tuesday's close.Traders said the shilling has come under pressure because energy companies were buying up dollars."That's been there for the last three days and that's still unmet, so we expect the shilling to ...
Egypt's pound stable on official and black markets CAIRO: The Egyptian pound was steady at a central bank dollar sale on Wednesday and on the black market. The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds, leaving it unchanged from its last sale on Monday.It had offered $40 million. The dollar was offered for 7.40 pounds in the black market on Wednesday. The unofficial rates have been stable since last week. The rates at which banks are ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
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WeeklyJuly 10, 2014
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