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Middle East & Africa

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Egyptian pound steady on official market, weaker on black market CAIRO: The Egyptian pound was unchanged at a central bank dollar sale on Monday but weakened on the black market.The bank said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from the previous sale on Thursday.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates. The bank offered $40 million on Monday.In the unofficial market, the pound was trading at 7.67 to the dollar at midday Thursday, one trader said, weaker than Thursday's rate of 7.57.The rate for dollar sales has kept within a tight range since the beginning of June after the bank allowed the pound to weaken in May.Copyright Reuters, 2014 ...

Kuwait to let banks trade derivatives, forex forwards move DUBAI: Kuwait's dinar rose sharply against the U.S. dollar in the forwards market on Monday in response to news that the Kuwaiti central bank would allow local banks to deal in derivatives with foreign banks.Al Rai newspaper in Kuwait quoted an unnamed source as saying the central bank had "informed treasury managers at banks that it no longer objects to Kuwaiti banks dealing in derivatives with foreign banks, as long as they deal in products ...
Kuwait forex forwards move on report banks can trade derivatives DUBAI: Kuwait's dinar rose sharply against the US dollar in the forwards market on Monday in response to a report that the Kuwaiti central bank would allow local banks to deal in derivatives with foreign banks.Al Rai newspaper quoted an unnamed source as saying the central bank had "informed treasury managers at banks that it no longer objects to Kuwaiti banks dealing in derivatives with foreign banks, as long as they deal in products approved ...
South Africa's rand steady as market awaits CPI, rates call JOHANNESBURG: South Africa's rand was largely flat against the dollar in early trade on Monday, with traders expecting it to take its cue mainly from global market trends ahead of local CPI data and an interest rate decision later in the week. Economists polled by Reuters last week expected consumer inflation to remain unchanged at 5.9 percent when Statistics South Africa releases October data on Wednesday, staying within the central bank's 3-6 percent target band. ...
Kenyan shilling firm, after central bank support last week NAIROBI: Kenya's shilling was holding firm against the dollar in early trade on Monday after the central bank intervened at the end of last week by selling dollars, lifting the currency from three-year lows.By 0706 GMT, the shilling was trading at 89.80/90 to the dollar, little changed from Friday's close of 89.90/90.In addition to central bank dollar sales, traders said investors were encouraged by Kenya's agreement last week with the International Monetary Fund on a ...
Kenya shilling firms after central bank intervenes, shares rise NAIROBI: Kenya's shilling strengthened from three-year lows on Friday after the central bank intervened to support the currency by selling dollars. Stocks rose. The shilling closed at 89.90/90.0 to the dollar, compared to Thursday's close of 90.25/35 - its lowest level since November 2011. The central bank has in the past sold dollars to support the currency when it touched 89.50 levels. Most traders had anticipated action when it broke through the 90 level this ...
Nigeria's naira trading outside central bank's band despite interventions LAGOS: Nigeria's naira firmed 0.88 percent on Friday, after the central bank stepped up dollar sales to try to support the currency, under pressure as the price of oil, the country's main revenue earner tumbled to a four-year low. However, although the central bank has spent billions of dollars this week in interventions, the naira is still worth 2.7 percent less against the dollar than when the week started and remains outside the bank's preferred ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln