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Middle East & Africa


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 due to a pile up in demand, mostly from the oil sector," said Duncan Kinuthia, head of trading at Commercial Bank of Africa.   "If the central bank was not mopping up liquidity the shilling would have weakened significantly by now."   The central bank has used repurchase agreements for most of this year to stabilise the shilling, which slid sharply in 2011 as inflation soared to a peak of 20 percent and the central bank responded slowly.   On Tuesday, ...

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 ...
Kenya shilling flat against dollar, tea to support  NAIROBI: The Kenyan shilling was stable against the dollar on Friday, and traders said the local currency would remain range-bound in the coming week, with inflows from tea exports expected to offset poor demand for the US currency.   AT 0715 GMT, commercial banks posted the shilling at 84.85/85.05 per dollar, unchanged from Thursday's close.   "It (the shilling) will be range-bound for now. The only major news will be the Monetary Policy Committee (MPC) meeting and we might ...
South Africa JOHANNESBURG: South Africa's rand remained under pressure on Friday with early June's three year lows within easy reach as investors fretted over strikes that began in the mining sector but which appear to be spreading to other parts of Africa's biggest economy.   The rand was at 8.5750 to the greenback by 0644 GMT, down 0.7 percent from Thursday's close at 8.5160.   It briefly touched an 18-week low of 8.5918, taking it closer to a three-year low of ...


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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