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Middle East & Africa


Kenyan shilling weakens on dollar strength after US jobs data  NAIROBI: Kenya's shilling weakened against a globally stronger dollar on Monday, and traders expected further losses for the local currency after some relief came from inflows last week.By 0745 GMT, the shilling was trading at 91.35/45 to the dollar, after closing at 91.25/35 on Friday - the shilling's strongest levels in more than two weeks.Traders had said on Friday that the release of the US jobs data would determine the shilling's next move.The data - released after Kenyan markets were closed - beat market expectations and strengthened the dollar globally, putting pressure on frontier currencies such as the shilling."The dollar is still globally strong," said Martin Runo, a senior trader at Chase Bank."Last week it (the shilling) was supported by some tight liquidity and some inflows which came into the market. But now the liquidity is starting to look better," he said.Hard currency inflows came into the market last week ...

Naira hits record low after Nigeria delays presidential election LAGOS: The naira opened at a record low on Monday after Nigeria delayed its presidential election by six weeks, citing security concerns due to an Islamist insurgency in the north.The electoral commission's decision late of Saturday to postpone the Feb. 14 vote until March 28 added to political uncertainty which, along with a slump in oil prices, has put intense pressure on the naira since last year.The currency has been trading well below a target ...
Egyptian pound steady for fifth straight sale, also on black market CAIRO: Egypt's pound sold at 7.53 per dollar on Monday for the fifth central bank auction in a row and was also steady on the black market.The central bank had let the official exchange rate weaken since Jan. 18 in an effort to wipe out black market trading, alongside government effort to bolster the economy and burnish Egypt's image ahead of a major investment conference next month.The central bank said it offered $40 million for ...
South Africa's rand slumps, hurt by strong US jobs data JOHANNESBURG: South Africa's rand tumbled 2 percent on Friday, giving up gains that saw the currency race to a two-month high to the dollar, after strong jobs growth in the US put a mid-year rate hike there back in the reckoning. By 1600 GMT the local unit had weakened 2.04 percent to 11.5030 per dollar.The rand idled around the key 11.3000 support level for most of the session before a 257,000 increase in US non-farm ...
South Africa's rand weakens on power supply shortage JOHANNESBURG: South Africa's rand softened against the dollar on Friday following strong gains the previous day, while government bonds gained as investors fretted about the impact of electricity supply shortages on the economy.At 0641 GMT the rand was trading 0.31 percent softer at 11.3100 to the dollar compared with its Thursday closing level of 11.2750. The currency had climbed to its highest in two-months against the greenback on Thursday.Yields on government bonds fell, with the ...
Cheap dollar cheers South African rand to two-month high JOHANNESBURG: South Africa's rand took advantage of disappointing unemployment figures from the United States and demand for emerging market assets to climb to its highest in two-months against the dollar on Thursday.At one stage the rand gained over 2 percent before pulling back slightly, and by 1602 GMT had firmed 1.9 percent to 11.2750 per dollar, making it the second biggest gainer against the greenback in a basket of 20 emerging market currencies monitored by ...
Egyptian pound holds steady for third straight day CAIRO: Egypt's pound sold for 7.53 per dollar at Thursday's central bank auction, and has now held at that level for three consecutive days, after weakening steadily since the middle of last month.The bank has let the official exchange rate weaken since Jan. 18 in a bid to wipe out the black market as part of economic reforms designed to reinforce a nascent economic recovery and burnish the country's image ahead of an investment conference ...


Index Closing Chg%
Arrow DJIA 18,132.70 0.45
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Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln