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Middle East & Africa


Kenyan shilling under pressure as importers buy dollars  NAIROBI: The Kenyan shilling fell marginally against the dollar on Thursday as it came under further pressure from importers in the telecoms and energy sectors buying the US currency, traders said.   The shilling was trading at 85.15/25 to the dollar at 0739 GMT, a touch weaker than Wednesday's close of 85.05/25.   "Sentiment still points to a weaker shilling. We've seen dollar demand from telecoms and energy guys while inflows are still low," said Solomon Alubala, head of trading at Co-operative Bank.   Technical analysis charts showed the shilling's support level at 85.50, and traders said if it were to cross that, it could weaken to touch the 86.00 level.   The shilling is up just 0.1 percent against the dollar this year.   It had gained as much as 2 percent in the first half of the year due to a credit squeeze after the central bank held interest rates at an ultra high 18 percent for seven ...

S.Africa JOHANNESBURG: South Africa's rand nudged higher versus the dollar on Wednesday on news some striking truckers were returning to work, but struggled to hold earlier session highs as investors worried that the labour unrest besetting the country is far from over.   The rand initially rallied to 8.6151/dollar, its strongest level since Friday, but retreated to 8.7148 by 1643 GMT, up just 0.27 percent from Tuesday's close.   The rand has taken a knock as investors eye strikes that ...
Kenyan shilling steady vs dollar in early trade  NAIROBI: Dollar sales by tea exporters and the central bank's continued liquidity mop up activity offset pent up demand for the US currency from oil importers to keep the Kenyan shilling steady early on Wednesday   At 0815 GMT, commercial banks quoted the shilling at 85.00/20 per dollar, the same level it closed at on Tuesday.   "The shilling is supported for now by tea guys selling dollar. But we are seeing some weakening bias on the local currency ...
South Africa rand and bonds firmer on strike optimism  JOHANNESBURG: South Africa's rand firmed against the dollar on Wednesday buoyed by the possibility that some striking workers could return to work after weeks of labour unrest that has threatened to cripple Africa's biggest economy.   The rand was 0.21 percent firmer at 8.7226 against the dollar at 0628 GMT, from the close of 8.7385 in New York on Tuesday.   Some of South Africa's striking truckers have agreed to return to work on Wednesday, after two weeks of ...
South Africa rand eases vs dollar but near 3-1/2 year low  JOHANNESBURG: South Africa's rand eased but remained near a 3-1/2 year lows against the dollar on Tuesday due to weeks of labour unrest that have rattled investors in Africa's biggest economy.   By 0635 GMT, the rand was trading at 8.8454 to the greenback, a touch softer than Monday's New York close of 8.9186.   During the previous session, the rand fell more than two percent to 8.995 - its lowest since April 2009 - but then retraced its ...
South Africa JOHANNESBURG: South Africa's rand fell more than 1.9 percent against the dollar on Monday to another 3-1/2 year low as strikes that have hit output in the mining sector continued to hurt sentiment.   The rand fell to 8.97 to the dollar, its weakest level since April 2009, according to Reuters data, compared to Friday's close at 8.79.   Government bonds tracked the currency weakening, with the yield on the three-year benchmark up 12 basis points at 5.54 percent ...
Uganda shilling unchanged vs dollar, seen vulnerable  KAMPALA: The Ugandan shilling was flat against the dollar on Monday, with trading activity slow ahead of Tuesday's public holiday, but traders said the shilling was still vulnerable this week due to waning inflows from investors in Ugandan debt.   At 0840 GMT commercial banks quoted the shilling at 2,565/2,575, the same level it closed on Friday.   The east African country will be celebrating its 50th independence anniversary on Tuesday.   "The outlook for the shilling is still weak and ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln