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Middle East & Africa


South Africa's rand edges higher against dollar, targets 9.93 JOHANNESBURG: South Africa's rand had a slight upper hand against the dollar on Wednesday after pushing through the key 9.96 barrier overnight, although worries about a US debt ceiling stand-off should keep risk appetite in check.Reserve Bank Governor Gill Marcus was due to lead a presentation to parliament at 0730 GMT likely to touch on the impact of the looming debt crisis in the world's biggest economy on emerging markets like South Africa.By 0705 GMT the rand traded at 9.96 to the greenback, up 0.35 percent from where it ended Tuesday's session in New York."The rand eventually broke the support through 9.97/96 as the bids got filled and we had good selling from local and offshore accounts," Standard Bank trader Jan de Fouw said in a note to clients.Traders said the market was still largely in "wait and see" mode regarding a resolution of the US government shutdown which has ...

Strong Kenyan shilling eases as banks dip back into dollars NAIROBI: The shilling weakened slightly on Tuesday as commercial banks bought dollars a day after the local currency hit a four-month high on the back of foreign appetite for Kenyan shares and bonds.At 0752 GMT, commercial banks quoted the shilling at 85.20/40 per dollar, 0.1 percent down on Monday's close of 85.10/30."The shilling had overextended its gains and is correcting as interbank players trim short dollar positions," said a trader at one commercial bank, adding ...
South Africa rand holds firm, US shutdown supports emerging markets JOHANNESBURG: South Africa's rand was slightly stronger from overnight closing levels against the dollar on Tuesday, in a market driven by greenback weakness linked to a US government closure.By 0651 GMT the rand traded at 9.9950 per dollar, 0.1 percent firmer than Monday's close in New York.But government bonds were slightly weaker, and yields, which move inversely to the price, edged higher.The 2026 benchmark bond added 4.5 basis points to 8.08 percent while the bond ...
Steady Kenyan shilling looks for boost from tea sector inflows NAIROBI: The Kenyan shilling held steady on Monday, with traders saying the currency could firm up in coming days on dollar inflows from tea exporters.The shilling was posted at 85.95/86.05 per dollar by 0734 GMT, barely changed from Friday's close of 85.95/86.15."There might be some agricultural flows, especially from the tea sector, from tomorrow. The shilling might gain further on that," said Julius Kiriinya, a trader at African Banking Corporation.Tea is Kenya's leading foreign currency ...
Kenyan shilling firms as banks shed dollars NAIROBI: The Kenyan shilling firmed on Friday as tight supply of the currency pushed commercial banks to switch US dollars into shillings ahead of the weekend.The shilling was posted at 86.20/40 per dollar by 0738 GMT, stronger than Thursday's close of 86.40/60."Most players are not willing to fund their long dollar position because the market has been persistently tight," said Nahashon Mungai, a trader at Kenya Commercial Bank.Liquidity has tightened in the interbank market as ...
Kenyan shilling firms against globally weaker dollar NAIROBI: The Kenyan shilling firmed slightly on Thursday as demand for a broadly weaker dollar by importers slowed down, with traders expecting the local currency to gain further.By 0834 GMT, commercial banks quoted the shilling at 86.60/80 per dollar, a tad firmer than Wednesday's close of 86.70/90."The shilling is strengthening a bit on reduced customer dollar demand," said John Muli, a trader at African Banking Corporation.Muli said tight shilling liquidity in the foreign exchange market ...
South Africa's rand slips vs softer dollar JOHANNESBURG: South Africa's rand slipped against the dollar on Thursday despite the unresolved budget impasse in the United States that has kept the greenback on the ropes.The rand was at 10.0100 to the dollar at 0637 GMT, down 0.2 percent from its close in New York on Wednesday.The dollar fell to eight-month lows on Thursday as US President Barack Obama and congressional leaders failed to reach an agreement to end the government shutdown.The stalemate has ...


Index Closing Chg%
Arrow DJIA 17,172.68 0.62
Arrow Nasdaq 4,527.69 1.14
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Arrow Nikkei 16,205.90 0.71
Arrow H.Seng 23,955.49 1.44
Arrow Sensex 27,206.74 0.43

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln