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Middle East & Africa


South Africa's rand strengthens to 2-week high vs dollar JOHANNESBURG: South Africa's rand climbed 1 percent to 11.0230 on Tuesday, its strongest in two weeks against the dollar as Japan's slide into recession helped boost demand for higher-yielding emerging market assets."The rand is stronger because high yields are in vogue at the moment," said David Gracey, a currency trader at Investec Bank. Copyright Reuters, 2014 ...

Kenyan shilling eases on corporate dollar demand, stocks dip NAIROBI: Demand for dollars from importers and manufacturers weakened Kenya's shilling on Tuesday although it ended off lows for the session, while share prices also slipped.At the market close of 1300 GMT, the shilling was at 90.10/20, compared with Monday's finish of 89.90/90. The currency touched a low of 90.15/25 before reversing some losses.The weakness was broadly driven by corporate demand for dollars, but traders said some firms saw the shilling's lows for the day ...
South Africa's rand, bonds hold steady, look offshore for direction JOHANNESBURG: South Africa's rand held steady against the dollar early on Tuesday as it waited for direction from abroad, while lower oil prices and Japan's slip into recession supported government debt. AT 0640 GMT the rand nudged up to 11.1175 to the dollar, off a 11.1345 close in New York on Monday. The currency was trading within Monday's levels, with little on the domestic calendar to inspire moves in either direction. Local factors will come ...
Kenyan shilling weakens as companies seek dollars NAIROBI: Kenya's shilling weakened in early trade on Tuesday, driven by demand for dollars from importers and manufacturers.By 0718 GMT, the shilling was trading at 90.05/15 to the US currency, lower than Monday's close of 89.80/90."We have weakened in early morning trade on the back of corporate demand," said Sheikh Mehran, head of trading at I&M Bank. "It is a correction from last week's central bank move."The shilling had strengthened to below the 90-level after ...
Ugandan shilling firms on liquidity mop-up, corporate tax payments  KAMPALA: The Ugandan shilling was stronger on Monday, helped by a central bank mop-up of excess liquidity and mid-month corporate tax payments that depressed demand for dollars.Commercial banks quoted the shilling at 2,730/2,740 by 1142 GMT, stronger than Friday's close of 2,740/2,750."We had a mop-up of excess liquidity by the central bank which helped push up the (local) unit," said Sage Daniel Muganza, trader at Centenary Bank."We also think because most corporates are settling their ...
Kenyan shilling firm, stocks close lower NAIROBI: Kenya's shilling was holding firm against the dollar in early trade on Monday after the central bank intervened at the end of last week by selling dollars, lifting the currency from three-year lows, while stocks closed lower.At the close of trade at 1300 GMT, commercial banks quoted the shilling at 89.80/90 to the dollar, compared with Friday's close of 89.90/90.00. "Nothing much has moved, because of the threat of central bank intervention based on ...
Egyptian pound steady on official market, weaker on black market CAIRO: The Egyptian pound was unchanged at a central bank dollar sale on Monday but weakened on the black market.The bank said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from the previous sale on Thursday.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 exchange rates. The bank offered $40 million ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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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 $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln