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Middle East & Africa


South Africa's rand turns positive versus dollar in late trade JOHANNESBURG: The rand firmed against the dollar in afternoon trade on Friday, with support levels kicking in to reverse some of the local currency's earlier weakness. The rand was on the recovery from a two-week low of 10.4750 against the dollar. Analysts said the currency looked vulnerable to further weakness while the dollar continues to ride on the Federal Reserve's decision to begin tapering in January. At 1525 GMT, the rand was 0.4 percent firmer at 10.3685 against the US currency. "The move above the 10.45 (dollar) resistance has been quickly reversed with prices recently reaching the day low around 10.36-plus," said Neil Irving of 4Cast Limited, adding that the 10.31 range was the next one to watch. However, analysts said while Treasury yields continue to rise after the Fed's decision to begin tapering, countries such as South Africa with large current account deficits will get knocked. Africa's largest economy ...

Egypt pound flat at Monday's forex auction CAIRO: The Egyptian pound was virtually unchanged at a foreign exchange auction on Monday, the central bank said. The central bank sold $38.6 million to banks at the auction, with a cutoff price of 6.8767 pounds to the dollar, fractionally stronger than the 6.8768 at the previous sale on Thursday. On the black market the pound was trading on Monday at 7.33/7.36, weaker than Tuesday's rate of 7.31/33 to the dollar, two traders said. The ...
Kenyan shilling trades stable, seen in tight range NAIROBI: The Kenyan shilling was little changed on Monday and expected to trade in a narrow band in coming days, underpinned by waning demand for dollars.At 0830 GMT, commercial banks posted the shilling at 86.45/65 against the dollar, compared with last week's close of 86.40/60.Mid-month tax payments by firms and sluggish appetite for dollars from importers ahead of the holidays were likely to keep the shilling well supported in a band of 86.20-86.70, traders said."The ...
Kenyan shilling treads water, eyes on central bank NAIROBI: Kenya's shilling moved sideways on Wednesday, and traders said all eyes were on the central bank for signs it would continue taking liquidity out of the market. Commercial banks quoted the local currency at 86.65/85 at 0740 GMT compared with 86.70/86.80 at Tuesday's close. "I think they will be back in the market because if rates on the overnight market come down there will be pressure on the local currency because there is no ...
South Africa's rand firms ahead of mining, manufacturing data JOHANNESBURG: South Africa's rand firmed against the dollar on Tuesday and could gain further momentum if mining and manufacturing data comes out stronger than expected. The rand was at 10.3700 to the dollar at 0632 GMT, up 0.2 percent from Monday's New York close. Mining and manufacturing production are expected to make a recovery from September when manufacturing volumes fell by 3.3 percent year-on-year, the first contraction since March. Mining output for the same month ...
Kenyan shilling steady but dollar demand seen looming NAIROBI: The Kenyan shilling opened flat on Monday, with traders saying it might weaken as demand by firms for dollars picks up as they bring forward their typical end-month demand ahead of the festive season.At 0733 GMT, commercial banks quoted the shilling at 86.52/72 to the dollar, compared with Friday's close of 86.55/65."We expect most corporates will be closing early, so from now till maybe Dec. 20 we'll see advance demand," said Andlip Nazir, a ...
Kenyan shilling weakens a touch on energy sector dollar demand NAIROBI: The Kenyan shilling weakened marginally on Friday on dollar demand for dollars from the energy sector, traders said.The local currency was seen holding steady in coming sessions with a bias for strengthening as demand for the US currency tapers off over the festive period.At 0845 GMT, commercial banks quoted the shilling at 86.55/75 to the dollar, compared with Thursday's close of 86.50/70."It has weakened slightly because of (dollar) demand from the energy sector," said ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln