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South Africa's rand slips as US says Fed puts 2015 rate hike back on JOHANNESBURG: South Africa's rand suffered on Wednesday, falling one percent at one stage, as the dollar climbed boosted by signals from the U.S. central bank that a rate hike there would happen by the end of the year.At 1500 GMT the rand slipped 0.76 percent to 12.4150 per dollar, erasing gains that had carried the unit to an overnight close of 12.3255, a 1 1/2 week high.The index measuring the greenback against major currencies rose 0.5 percent as the dollar put emerging markets on the backfoot after Fed Chair Janet Yellen said the bank remained on track to raise interest rates this year."What Yellen said is nothing new, but its given the markets a wake up call. But there's also been lots of demand from importers below the 12.40 level," said Ion de Vleeschauwer, chief currency dealer at Bidvest Bank.Government bonds remained in narrow range, with the benchmark issue due ...

Egyptian pound steady at auction, parallel market CAIRO: Egypt's central bank held the Egyptian pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday after a depreciation earlier this month. The currency also remained unchanged on the parallel market. The central bank said it had offered $40 million and sold $37.5 million at a cut-off price of 7.7301 pounds per dollar , unchanged from Sunday's rate. The central bank had held the pound at 7.5301 for the past five ...
Ugandan shilling holds steady as liquidity tightens KAMPALA: The Ugandan shilling held steady on Tuesday on the back of tighter liquidity in money markets as companies paid their mid-month taxes. Commercial banks quoted the shilling at 3,290/3,320 against the dollar at 0902 GMT, unchanged from Monday's close. "Liquidity is very tight as we have not had any injections in days," said Shahzad Kamaluddin, a trader at Crane Bank. Kamaluddin said the market now expects the currency to strengthen, aided by a combination ...
Kenyan shillings hits fresh 3-1/2 year low on energy sector dollar demand NAIROBI: Kenya's shilling weakened to a new 3-1/2-year low against the dollar on Monday, hurt by demand for the US currency from energy and manufacturing sectors.At 0635 GMT, commercial banks quoted the shilling at 102.50/70 to the dollar, compared with Friday's close of 101.85/95. Down about 14 percent against the dollar this year, the shilling is trading at a level last seen in October 2011.A trader at one Nairobi-based commercial bank said several orders which ...
Egyptian pound steady at auction, stronger on parallel market CAIRO: Egypt's central bank held the Egyptian pound steady at 7.73 per dollar for the third straight foreign exchange auction on Sunday after a depreciation earlier this month. The currency strengthened on the parallel market. The central bank said it had offered $40 million and sold $37.5 million at a cut-off price of 7.7301 pounds per dollar , unchanged from Thursday's rate. The central bank had held the pound at 7.5301 for the past five ...
Nigeria naira hits fresh low on black market as govt funds hit currency LAGOS: Nigeria's naira hit fresh lows against the dollar on the parallel market on Friday, after a government liquidity injection to help cash-strapped states offset a funding crisis hit the currency, traders said. The currency of Africa's biggest economy fell to a new record low of 240 on the parallel market, down 2.1 percent on the day, as persistent dollar shortages continued, two traders said. Aminu Gwadabe, president of Nigeria's Bureau de Change association said ...
South Africa's rand snaps losses as risk aversion abates JOHANNESBURG: South Africa's rand snapped four straight days of losses against the dollar on Thursday, shrugging off weak domestic data as global investors focussed on euro zone efforts to resolve Greece's debt problems.South Africa's manufacturing sector remained under pressure in May, shrinking 1.4 percent year-on-year after a 2.1 percent contraction in April.But the rand climbed as much as 1 percent to a session high of 12.4440/dollar, and was up 0.37 percent on the day at ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln