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South Africa's rand on shaky ground ahead of ratings reviews JOHANNESBURG: South Africa's rand traded sideways against the dollar on Thursday after falling to fresh six year lows the day before, with the market bracing for a downgrade when Fitch and Standard & Poor's review the country's credit rating this week. Government bonds yields hovered near Wednesday's multi-week highs, with latest data from the JSE securities exchange showing foreigners sold nearly 2 billion rand ($174 million) of local debt in the previous session. At 0700 GMT, the rand traded at 11.5285 to the greenback, barely changed from its close at 11.5375 in New York. The local unit was within easy reach of Wednesday's low of 11.6000, its weakest since Oct. 2008, according to Thomson Reuters data. The yield for the government bond maturing in 2026 , which the secondary market uses as a benchmark, dipped half a basis point to 7.945 percent, after climbing to a month high of 8.005 ...

Kenyan shilling hits fresh 3-year low, shares fall NAIROBI: The Kenyan shilling fell to a three-year low on Wednesday as importers bought dollars, while shares slid as investors booked their gains ahead of the holidays.At the 1300 GMT close, commercial banks posted the shilling at 90.55/65 per dollar, down from the previous day's close of 90.45/55.Traders said importers were buying dollars to meet their obligations ahead of the holidays. Importers usually require dollars to pay for bringing petroleum products and machinery required for ...
Nigerian naira gains after oil firms, central bank sells dollars LAGOS: Nigeria's naira firmed 1.5 percent against the dollar on Wednesday after state-oil company NNPC sold around $200 million, coupled with a central bank intervention to boost interbank forex market liquidity, dealers said.The naira closed at 179.90 in volatile trades, gaining some ground after it eased to an intraday low of 184.65 naira before the dollar sales. The naira closed at 182.60 to the dollar previous day.The central bank has been struggling to keep the ...
South Africa's rand keeps falling as credit downgrade threatens JOHANNESBURG: The rand tumbled to six-year lows and bond yields spiked on Wednesday, despite an end to the U.S. dollar's bull run and a slowdown in domestic inflation.By 1536 GMT the South African currency had slipped 1.27 percent to 11.6000, its weakest since October 2008. It soon gave up a modest recovery when investors cashed in profits from the dollar's recent strong run.Local government bonds also wavered, with the yield on the benchmark issue due ...
South Africa rand firms as market awaits CPI, retail data JOHANNESBURG: South Africa's rand traded firmer against the U.S. dollar on Wednesday, pulling further away from Monday's six-year low, although market watchers expected pressure to resume if inflation and retail sales data came in worse than expected.At 0838 GMT, the rand traded at 11.4350 to the greenback, slightly firmer than Tuesday's New York close at 11.4545.The yield for the heavily traded government bond due in 2026 was flat at 7.835 percent.The rand has reclaimed about ...
Kenyan shilling drops to fresh 3-year low, central bank action eyed  NAIROBI: The Kenyan shilling fell to a fresh three-year low on Wednesday due to demand for dollars from importers, with traders expecting the local currency to continue losing ground unless the central bank intervenes.At 0720 GMT, commercial banks posted the shilling at 90.55/65, weaker than Tuesday's close of 90.45/55 to the dollar. The currency is now at its lowest level since November 2011.Joshua Anene, trader at Commercial Bank of Africa, said the central bank is ...
Ugandan shilling flat, may strengthen after central bank mop up KAMPALA: The Ugandan shilling was flat in quiet trade on Wednesday, and dealers said the currency could strengthen due to mopping up of excess liquidity by the central bank.At 1026 GMT commercial banks quoted the shilling at 2,760/2,770, unchanged from Tuesday's close.Traders say most firms are staying out of the foreign exchange market as their commercial operations slow down towards the year-end."The shilling look's pretty stuck because most corporates aren't buying and banks seem happy ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln