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Middle East & Africa


Kenyan shilling firms on improved inflows NAIROBI: The Kenyan shilling firmed against the dollar on Wednesday on the back of dollar inflows from charity organisations and tea exporters.At 0705 GMT, commercial banks posted the shilling at 86.05/15, after corporate demand pushed it off its intra-day high of 85.90/86.00. The shilling had closed on Tuesday at 86.10/30."We should continue to strengthen on better investor flows from offshore combined with lower demand (for dollars)," said a trader with a leading commercial bank.Tea exporters and non-governmental organisations were also converting their dollars into shillings, offering further support to the local currency, the trader added.The central bank's decision to hold its benchmark lending rate at 8.50 percent in the previous session was seen as neutral, because it was largely expected, traders said. Copyright Reuters, 2014 ...

Rand reprieve ends as South African currency weakens vs dollar JOHANNESBURG: The rand weakened against the dollar on Monday, with negative domestic fundamentals preventing a sustained rally by South Africa's currency after a weak U.S. jobs number.The rand was down nearly 1 percent at 10.7535/dollar at 1533 GMT, off a 10.6500 close in New York on Friday.It won some reprieve from weaker-than-expected U.S. non-farm payrolls on Friday, but pared those gains on Monday."A pronounced recovery in the local unit remains unlikely given persisting poor underlying ...
Rand gets temporary reprieve after US jobs data JOHANNESBURG: South Africa's rand ended the week firmer against the dollar, pulling away from recent five-year lows after poor US jobs numbers reduced the risk of a sharp scaling back of US monetary stimulus. The rand strengthened to a session high of 10.6645 in late afternoon trade after US non-farm payrolls data came in well below market expectations, bolstering markets' view that the US Federal Reserve would reduce its stimulus programme only gradually. ...
Ugandan shilling stable, seen supported by tax payments next week KAMPALA: The Ugandan shilling was little changed on Friday and players said it would likely trade in a stable range next week, underpinned by corporate tax payments. At 1132GMT commercial banks quoted the currency of east Africa's third-largest economy at 2,518/2,523, barely changed from Thursday's close of 2,517/2,522. "I see the shilling possibly swinging in the 2,515-2,525 range next week," said Benon Okwenje, trader at Stanbic Bank, adding that because corporates would be reserving most ...
Kenyan shilling steady, more gains seen NAIROBI: The Kenyan shilling was little changed on Thursday but traders said they expected it to strengthen in the days ahead, thanks to foreign investors buying local shares.At 0806 GMT, commercial banks quoted the shilling at 86.70/80 to the dollar, compared with Wednesday's close of 86.75/85.Traders said the shilling was expected to get support from foreign investors bringing in money to invest in stocks on the Nairobi Securities Exchange (NSE)."There have been good inflows from ...
South Africa's rand languishes near five year lows JOHANNESBURG: South Africa's rand made a modest recovery on Thursday from a fresh five-year low hit overnight but could stumble again if manufacturing data due later in the session disappoints. The rand was at 10.7400 to the dollar at 0651 GMT, nearly 0.4 percent firmer than Wednesday's close in New York. It hit a trough of 10.7925 overnight after the dollar climbed to a seven-week high against a basket of major currencies on upbeat jobs ...
Kenyan shilling edges up, seen gaining further NAIROBI: The Kenyan shilling strengthened slightly on Wednesday helped by commercial banks shedding their long dollar positions.At 0813 GMT, commercial banks quoted the shilling at 86.80/87.00 to the dollar, compared with Tuesday's close of 86.90/87.00.Traders said there had been some dollar sales by tea and horticulture exporters and non-governmental organisations on Tuesday."Initially there was quite a bit of demand from the energy sector, but now it seems to have been met and now we are ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln