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Middle East & Africa


Kenyan shilling steady amid intervention speculation NAIROBI: The Kenyan shilling held steady against the dollar on Thursday in cautious trades amid speculation the central bank would intervene again to prop up the local currency.At 0650 GMT, commercial banks posted the shilling at 90.20/30, unchanged from the previous day's close.The central bank sold an unspecified amount of dollars to banks just before the market closed on Wednesday, traders said, helping to lift the shilling from its intraday low of 90.40/50."Markets will remain cautious because it looks like the central bank does not want to see anything below 90.30. It is like an unofficial protection," said a trader with a leading commercial bank.He said the central bank has intervened three times in recent weeks whenever the exchange rate has slipped past the 90.30 level.Copyright Reuters, 2014 ...

Kenya shilling stays near three-year lows in wake of attack NAIROBI: The Kenyan shilling stayed close to a three-year low on Wednesday after an Islamist attack in the northeast of the country the previous day spooked the market.At 0735 GMT, commercial banks posted the shilling at 90.20/40, close to the 90.30/40 level it fell to on Tuesday, after al Shabaab militants from Somalia attacked a quarry in Mandera and killed 36 workers."It (the attack) does not provide comfort for the shilling," said a senior currency ...
Ugandan shilling strengthens on dollar inflows from charities KAMPALA: The Ugandan shilling firmed on Wednesday, lifted by inflows of hard currency from charities and traders forecast further gains due to a liquidity mop-up by the central bank and coffee export earnings. At 0915 GMT commercial banks quoted the shilling at 2,755/2,765, stronger than Tuesday's close of 2,760/2,770."Inflows from NGOs (non-governmental organisations) are coming in while dollar demand from corporates is sluggish," said Faisal Bukenya, head of market making at Barclays Bank.Bukenya said the ...
Nigeria naira firms sharply after central bank sells dollars LAGOS: Nigeria's naira firmed sharply for the second day on Wednesday, after the central bank increased dollar sales to commercial lenders in the interbank market, dealers said. Though the currency is still below the bank's new target range, it gained more than 2 percent to 179.10 naira in volatile trades. Copyright Reuters, 2014 ...
Egyptian pound steady at official auction, weakens on black market CAIRO: Egypt's pound held steady at a central bank dollar sale on Wednesday but weakened on the unofficial market. The bank offered $40 million on Wednesday and said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Monday. 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 ...
South African rand steadies against dollar after sharp fall JOHANNESBURG: South Africa's rand hovered on Wednesday near its previous day's close against the dollar and was expected to continue taking direction from global currency moves, with local business sentiment data taking a back seat.The South African Chamber of Commerce and Industry was due to release its latest confidence index at 0930 GMT while HSBC would issue its purchasing managers' index at 0715 GMT.At 0638 GMT the rand traded at 11.1200 to the greenback, barely ...
Kenyan shilling weakens after Islamist attack, stocks ease NAIROBI: The Kenyan shilling hovered at three-year lows on Tuesday after al Shabaab militants killed 36 people, putting pressure on the shilling because tourism is a key source of hard currency.Stocks were a fraction lower.At close of trade at 1300 GMT, commercial banks quoted the shilling at 90.30/40 to the dollar, compared with Monday's close of 90.20/30 after news of the overnight attack broke out."From the morning, security jitters drove the shilling," a senior trader ...


Index Closing Chg%
Arrow DJIA 18,162.99 0.67
Arrow Nasdaq 5,106.59 1.47
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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln