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Middle East & Africa


Egyptian pound steady at official auction, weaker on black market CAIRO: Egypt's central bank kept the pound's exchange rate steady at 7.53 to the U.S. dollar at a foreign exchange auction on Sunday, with black market rates slightly weaker.The central bank has held the official exchange rate unchanged for four months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading.In Sunday's auction the bank said it had offered $40 million and sold $37.8 million at a cut-off price of 7.5301 pounds per dollar, unchanged from Thursday's rate.On the black market the pound was trading at 7.68 pounds to the dollar on Sunday, a trader said, slightly weaker than Thursday's rate of 7.65.Black market traders say volumes have fallen sharply since the central bank's drive to stamp out their transactions, which has included since February a cap on the amount of dollars that can be deposited in banks. Copyright ...

South Africa's rand steady ahead of S&P rating update JOHANNESBURG: South Africa's rand steadied against the US dollar early on Friday as investors held positions ahead of a Standard & Poor's credit rating update on Africa's most advanced economy later in the session.At 0607 GMT the rand was trading at 12.3775 to the dollar, not far off its Thursday New York closing level of 12.3550."The headline event today is S&P's rating review decision. We think it is extremely unlikely that they will change the ...
South Africa's rand halts slide after factory output disappoints JOHANNESBURG: South Africa's rand sunk to a session low against the dollar on Thursday after the dollar strengthened and April factory output unexpectedly contracted before paring losses.At 1510 GMT the rand had weakened 0.33 percent to 12.3800 , pulling back from a sharp fall to 12.4900 after manufacturing contracted 2 percent y/y in April. The dollar index, a measure of the greenback against major currencies, rose over half a percent as the unit was buoyed ...
South Africa's rand softer, could fall further on mine, factory data JOHANNESBURG: South Africa's rand traded softer against the dollar early on Thursday, with scope to extend losses should domestic mining and factory output data come out weaker than expected.At 0647 GMT, the local unit was trading down 0.35 percent at 12.3400 per greenback, compared with Wednesday's New York close at 12.3115.Government bonds were mostly flat, with the benchmark 2026 paper yielding half a basis point higher at 8.38 percent.Traders and analysts said mining production numbers ...
Kenyan shilling little changed ahead of budget reading NAIROBI: Kenya's shilling held steady against the dollar on Thursday ahead of a budget reading by the finance minister in parliament later in the day.At 0740 GMT, the shilling was trading at 97.05/15 to the dollar, barely changed from Wednesday's close of 97.10/20.Henry Rotich is expected to announce fresh measures to shore up growth in east Africa's biggest economy and expand the tax base to boost revenue collection. The IMF last week trimmed Kenya's growth ...
South African rand weaker as investors dump risky assets JOHANNESBURG: South Africa's rand fell more than 1 percent against the dollar on Monday, tracking a retreat in emerging market assets after renewed concerns about Greece's financial woes whittled investors' appetite for risk.The rand also weakened in line with other commodity currencies hit by worries about the growth prospects for China, a major consumer of South African minerals.At 1534 GMT the rand traded at 12.2625 versus the greenback, 0.93 percent lower compared with Friday's closing ...
Ugandan shilling weaker as dollar demand from firms weighs KAMPALA: The Ugandan shilling weakened on Monday, hurt by strong appetite for hard currency from firms in the telecoms and energy sectors and the local currency was expected to maintain a bearish bias this week.At 0843 GMT commercial banks quoted shilling at 3,065/3,075, weaker than Friday's close of 3,052/3,062.The shilling is 9.6 percent weaker against the dollar so far this year, with the latest wave of depreciation pushing it ever closer to its all-time record ...


Index Closing Chg%
Arrow DJIA 17,6630.27 1.09
Arrow Nasdaq 5,089.21 0.98
Arrow S&P 2,093.25 1.24
Arrow FTSE 6,555.28 0.77
Arrow DAX 11,173.91 1.06
Arrow CAC-40 4,977.32 1.01
Arrow Nikkei 20,328.89 0.10
Arrow H.Seng 24,503.94 0.62
Arrow Sensex 27,459.23 0.37

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln