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Middle East & Africa


South Africa's rand, bonds steady; eye on Greek debt crisis JOHANNESBURG: South Africa's rand was steady against the dollar on Wednesday with the market nervous about the outcome of the euro zone meetings on the Greek debt crisis.At 0634 GMT the rand was trading at 11.6870, not far off from its Tuesday closing level on 11.6820."For today with very little in the way of macro data, the market will be holding its breath for some resolution in the EU/Greek meeting," said chief trader at Standard Bank Warrick Butler said in market note."Anything negative out of that and the rand, together with much of the emerging market world, could find itself under pressure once again."Euro zone finance ministers meet later on Wednesday and EU leaders on Thursday, but officials are already downplaying the chance of a breakthrough.The yield for the 2026 benchmark government bond were flat at 7.59 percent.Copyright Reuters, 2015 ...

Ugandan shilling weakens on dollar buying by banks, corporates KAMPALA: The Ugandan shilling weakened on Wednesday on dollar demand from banks hedging against the globally strong U.S. currency, as well as the manufacturing and energy sectors.At 0824 GMT commercial banks quoted the shilling at 2,865/2,875, weaker than Tuesday's close of 2,855/2,865."The global strength of the dollar has triggered a scramble for covering of short positions by some banks," said Ahmed Kalule, trader at Bank of Africa."There's also demand from corporates in the energy and ...
Egyptian pound steady for sixth straight dollar sale CAIRO: Egypt sold dollars at 7.53 pounds per dollar on Wednesday for the sixth central bank auction in a row and the pound was also steady on the black market.The bank has let the official exchange rate weaken since Jan. 18 in an effort to wipe out black market trading, alongside government efforts to bolster the economy and burnish Egypt's image ahead of a major investment conference next month.The central bank said it offered $40 ...
South Africa's rand firmer ahead of unemployment and output data JOHANNESBURG: South Africa's rand edged slightly firmer early on Tuesday as domestic fundamentals came into focus with the release of unemployment and manufacturing data set to stoke the currency's recent weakness.At 0615 the rand was 0.09 firmer at 11.5800 per dollar , hovering near a four-day high above 11.6000 as local and off-shore uncertainty swirled ahead of the jobs and production numbers, both expected to show economic growth continues to stutter.A Reuters poll of economists ...
Nigeria naira quoted at record low of 198.95 to dollar LAGOS: The naira hit a new record low on Tuesday on thin dollar liquidity, amid concerns over political stability after a six-week delay to Nigeria's presidential election.The naira was quoted at a record low of 197.3 to dollar by market open and quickly fell to 198.95 by 0822 GMT, Thomson Reuters data showed.Nigeria's electoral commission said late of Saturday it would postpone the Feb. 14 presidential election until March 28 due to security concerns.Copyright Reuters, ...
Kenyan shilling weaker on dollar buying by companies, importers  NAIROBI: Kenya's shilling weakened on Tuesday on corporate demand for the US currency, reversing the gains made last week after an unexpected influx of foreign direct investment.By 0850 GMT, the shilling was trading at 91.65/75 to the dollar, after closing at 91.50/60 to the dollar on Monday."We've surrendered all the gains made last week, as demand (for the dollar) has picked up following a period of relatively good dollar inflows," said Duncan Kinuthia, head of ...
Ugandan shilling weaker on dollar demand by energy sector KAMPALA: The Ugandan shilling weakened slightly on Tuesday, undermined by dollar demand from the energy sector but it was expected to hold largely stable in the days ahead.At 0922 GMT commercial banks quoted the shilling at 2,858/2,868, compared with Monday's close of 2,855/2,865."Today's weakening was driven by some demand that we saw from energy sector players," said Faisal Bukenya, head of market making at Barclays Bank Uganda.Bukenya said the shilling's weakening was expected to be ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln