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Middle East & Africa

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Kenyan shilling stable, liquidity watched NAIROBI: The Kenyan shilling was little changed on Tuesday although traders said rising liquidity in money markets could weaken the currency.At 0645 GMT, the shilling was trading at 89.25/35 to the dollar, compared with Monday's close of 89.20/89.30.Average overnight lending rates dropped to 5.9673 percent on Monday from 6.1625 percent on Friday, pointing to improved liquidity, which could weigh on the currency as it makes it slightly cheaper for banks to fund long dollar positions."That tells you the market's very liquid," said a trader with a leading commercial bank.The central bank mopped up just under 14 billion shillings from the market on Monday using repurchase agreements (repo) and term auction deposit.Copyright Reuters, 2014 ...

South Africa's rand firmer as US holiday offers reprieve JOHANNESBURG: South Africa's rand took advantage of a U.S. market holiday on Monday to claw back more than half a percent in gains versus the dollar, sneaking into firmer territory after a two-session losing streak.The local unit firmed 0.57 percent to 11.047 by 1420 GMT , reversing two consecutive days of losses in the previous week.The rand clung on to good news out of China as the world's second-largest economy reported a surprise up-tick in ...
Kenyan shilling treads water against the dollar NAIROBI: The Kenyan shilling held steady against the dollar on Monday as importers remained on the sidelines.At 0805 GMT, leading commercial banks posted the shilling at 89.10/20, unchanged from Friday's close.The shilling, which is 2.8 percent down against the US currency this year, has been under pressure due to a dearth of dollars as tourism, a key source of foreign exchange, dwindled in the wake of frequent attacks by Islamists.Traders said the supply of dollars ...
Egyptian pound steady on official, weaker on black market CAIRO: Egypt's pound held steady at a central bank dollar sale on Monday, when the bank said it sold $37.4 million at a cut-off price of 7.1401 pounds per dollar.The price was unchanged from Thursday's sale.In the unofficial market, the pound was trading at 7.38 to the dollar, slightly weaker than Thursday's rate of 7.37, one trader said.The rate for dollar sales has stayed in a tight range since the beginning of June, after the ...
Ugandan shilling weakens on importer demand KAMPALA: The Ugandan shilling fell for a second session on Monday, weighed down by dollar demand from importers, with the weakening seen as likely to persuade the central bank to keep interest rates on hold on Tuesday.At 0942 GMT commercial banks quoted the shilling at 2,673/2,683, weaker than Friday's close of 2,667/2,677."We're seeing a continuation of appetite from importers," said Centenary Bank trader Sage Daniel Muganza.Muganza said liquidity in the interbank market was tightening after ...
South Africa's rand halts 4-day gains as investors shun risk JOHANNESBURG: South Africa's rand snapped a four-day winning streak against the dollar on Friday, amid a lack of domestic impetus to counter rising concerns about the state of the global economy which left investors averse to risky assets. The market has moved on from the euphoria of respected deputy Governor Lesetja Kganyago being appointed to take over as central bank chief when Gill Marcus retires on Nov. 8. Market players are now focused on Finance ...
Kenya shilling dips in quiet morning trade, may gain next week NAIROBI: Kenya's shilling weakened slightly in quiet Friday morning business as traders bought dollars to square positions before the weekend, while demand for shillings to meet tax payments could help strengthen the currency next week.By 0720 GMT, the shilling was 89.05/89.15 to the dollar, modestly weaker than Thursday's close of 89.00/89.10 but still in a tight range of recent sessions of roughly 89.00 to 89.30."It's Friday so typically we don't see a lot of trading ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 20, 2015
Reserves $16.132 bln