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Middle East & Africa


Nigeria naira gains on central bank dollar intervention LAGOS: The Nigerian naira firmed 0.12 percent to close at 163.70 against the dollar on Monday, after the central bank sold dollars directly to lenders on the interbank market to prop up the ailing currency, dealer said. The local unit eased to around 164.15 naira by midday trade, prompting the central bank to intervene with an undisclosed amount of dollars sold directly on the interbank market, dealers said. The naira closed at 163.90 on Friday. The currency has been falling for the past three weeks, weakened by the impact of the decline in global oil prices and low offshore inflows into Nigeria's debt and equity markets. "We expect the central bank to continue to support and reduce pressure on the naira," one dealer said. At a foreign exchange auction on Monday, the central bank hiked the amount of dollars it offered to sell to $500 million, up from $350 million ...

Kenyan shilling steady, seen easing on end-month dollar demand  NAIROBI: The Kenyan shilling was steady on Monday and traders said it was expected to remain under pressure due to end-month dollar demand from importers and other corporate clients.At 0803 GMT, commercial banks quoted the shilling at 89.10/30 to the dollar, compared with Friday's close of 89.10/20.Traders said the shilling was expected to weaken as the month drew to a close, due to demand from importers in sectors like manufacturing and energy."It's the end of ...
South Africa's rand touches new 8-month low vs dollar, seen struggling JOHANNESBURG: South Africa's rand touched a fresh 8-month low against the dollar on Monday as the greenback extended last week's broad-based gains after stronger than expected U.S. GDP data.The rand fell to 11.2755 to the dollar, its weakest since Feb. 3 according to Thomson Reuters data, and was at 11.2525 by 0700 GMT. This compared with Friday's New York close at 11.2290.The dollar touched a fresh four-year high against a basket of currencies and a ...
Kenyan shilling steady, stocks down for third day NAIROBI: The Kenyan shilling was steady on Friday, while stocks fell for a third straight session, dragged lower by a steep drop in shares of Centum Investment.On the Nairobi Securities Exchange, the main NSE-20 Share Index lost 32.11 points to close 0.6 percent down at 5,216.96 points.Centum fell 7.7 percent to close at 60 shillings a share as investors fretted over the suspension of a power plant contract the firm had secured with jointly with ...
Kenyan shilling steady, seen weaker on end-month dollar buying NAIROBI: Kenya's shilling was steady on Friday in subdued trading, after gradually weakening this week toward a level where the central bank sold dollars to offer support last week. Demand for dollars by the energy and telecoms sectors to meet their end-month obligations had eased slightly, with the companies reluctant to take long dollar positions on the last day of the week and near the close of the quarter. By 0810, the shilling was trading ...
Ugandan shilling weakens as demand for dollars grows KAMPALA: The Ugandan shilling weakened on Friday amid higher demand for dollars from manufacturers and energy companies. At 0938 GMT, commercial banks quoted the shilling at 2,650/2,660, down slightly from Thursday's close of 2,540/2,650. "The shilling has come under significant pressure from demand being exerted by manufacturing and energy firms," said Ahmed Kalule, a trader at Bank of Africa. The shilling is down 4.9 percent against the dollar this year, and market players expect it ...
Kenyan shilling weakens on end-month dollar demand by companies  NAIROBI: Kenya's shilling weakened in early trade on Thursday on demand for dollars from energy and telecoms firms, driving the currency close to levels where the central bank intervened with support last week.By 0809 GMT, the shilling was trading at 89.10/30, compared with Wednesday's close of 89.00/20. A week ago, the central bank sold dollars to help the currency when it fell to around 89.50."We are still slowly sliding. We see continued (dollar) demand from ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln