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Middle East & Africa


South Africa's rand edges up, April trade data poses risk JOHANNESBURG: South Africa's rand edged up against the dollar on Thursday, and a quickening in producer price inflation pointed to interest rates rising more this year, adding to positive sentiment on the currency.The rand hit a session high of 10.3840 to the dollar, and was at 10.4000 by 1534 GMT, gaining 0.57 percent from Wednesday's close."The continued slide in core market yields has helped lend support to riskier emerging market currencies at the margin, seeing dollar-rand slide back under 10.5000," Tradition Analytics said in a note.The rand ticked higher after Statistics South Africa reported that headline producer inflation accelerated more than expected to 8.8 percent year-on-year in April from 8.2 percent in March.The rand remains vulnerable to South African trade data due out on Friday, however, with analysts polled by Reuters seeing a wider deficit for April.This would point to continued pressure on the current account, a long-standing source of ...

South African rand weaker against dollar, PPI data due JOHANNESBURG: South Africa's rand was softer on Thursday against the dollar, tracking a weaker euro and as the local unit struggles to recover from weak GDP numbers that signal Africa's most advanced economy could go into recession this year. Tensions in Ukraine and Russia have also pressured risky assets like the rand, and most emerging market currencies tracked by Reuters were trading weaker against the dollar early on Thursday.The rand fell 0.2 percent to 10.4820 ...
Egypt pound weakens at central bank sale, stable on black market CAIRO: The Egyptian pound weakened further at a central bank dollar sale, moving towards black market rates, which stayed unchanged on Wednesday, the third day of Egypt's presidential elections.Former army-chief Abdel Fattah al-Sisi is expected to win the election.Dollar shortages have fuelled a thriving black market in Egypt. Political turmoil following the 2011 uprising against Hosni Mubarak has unnerved foreign investors and tourists, who are traditionally major sources of foreign currency.The central bank said it ...
Ugandan shilling edges down on dollar short-covering KAMPALA: The Ugandan shilling inched down on Wednesday as commercial banks bought dollars to cover short positions, a dealer said.At 0915 GMT, commercial banks quoted the currency at 2,540/2,550, weaker than Tuesday's close of 2,530/2,540.Faisal Bukenya, head of market making at Barclays Bank, said there were few signs of demand for dollars from corporate clients, meaning the pressure on the shilling was likely to be short-lived."We'll likely see most of these banks cover their positions ...
South Africa's rand under pressure, hits fresh 3-week low vs dollar JOHANNESBURG: South Africa's rand fell to a 3-week low against the dollar on Wednesday, extending losses triggered by contracting domestic economic growth data and a rally in the dollar.The rand fell over half a percent to 10.5220, breaching key 10.50 support as investors digested signals the South African economy was heading for a recession, and as the dollar rallied after data showed US durable goods sales unexpectedly rose in April and consumer confidence perked up ...
South Africa's rand weakens after weak GDP data JOHANNESBURG: South Africa's rand fell 1 percent against the dollar on Tuesday to its softest level in nearly a week, after the release of data showing the economy shrunk in the first quarter of the year, raising the spectre of a recession.The data undermines the case for more interest rate hikes this year after the central bank last lifted its benchmark rate by 50 basis points in January.The rand hit a session low of 10.4690 ...
Ugandan shilling inches down, rise in dollar demand may not last KAMPALA: The Ugandan shilling weakened slightly on Tuesday after demand for dollars on the interbank market rose.At 0953 GMT, commercial banks quoted the currency of Africa's largest coffee exporter at 2,530/2,540, slightly down from Monday's close of 2,527/2,537.Traders said the shilling could claw back the losses in the course of the trading session."I don't expect this (dollar) demand to last ... the shilling will likely pull back from this loss," said Faisal Bukenya, head of ...


Index Closing Chg%
Arrow DJIA 17,356.87 1.69
Arrow Nasdaq 4,644.31 2.12
Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
Arrow DAX 9,544.43 0.20
Arrow CAC-40 4,111.91 0.46
Arrow Nikkei 16,819.73 0.38
Arrow H.Seng 22,585.84 0.37
Arrow Sensex 26,710.13 0.27

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln