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Middle East & Africa


South Africa's rand steadies vs dollar, seen weakening JOHANNESBURG: South Africa's rand was steady against the dollar early on Tuesday with investors reluctant to take large positions ahead of key US data on Wednesday. The rand was at 10.7745 to the dollar at 0640 GMT, slightly weaker but not far off a 10.7710 close in New York on Monday. Dealers said the rand was likely to weaken in the session, especially if US inflation and housing data comes out stronger than expected. The rand has shrugged off local news in the past few weeks to track its emerging market peers, who have been suffering the fallout from geopolitical tensions in Ukraine and Russia. Market developments in the United States, where the Federal Reserve's decision to scale back quantitative easing has hit the risky assets that had benefited from the extra money flows, have also been causing some volatility in the rand. "We see the balance of risks as ...

South Africa's rand starts week looking vulnerable against dollar JOHANNESBURG: The rand weakened against the dollar on Monday, starting the week on the back foot ahead of events such as a US Federal Reserve meeting and domestic inflation data during a shortened week locally.The Fed will hold a monetary policy meeting on Wednesday after Statistics South Africa releases February inflation and January retail sales data.South African markets will be closed for a national holiday on Friday. Analysts expect that global developments will mainly drive ...
Kenyan shilling steady, bond auction may attract foreigners NAIROBI: The Kenyan shilling was steady on Monday and traders said foreign investor inflows for a Treasury bond on sale this week could offer support for the currency amid ample liquidity.At 0654 GMT, commercial banks quoted the shilling at 86.40/50 to the dollar, unchanged from Friday's close."There seems to be a little bit of mid-month dollar demand from corporates that we expect, so this will put some pressure on the shilling," said Nahashon Mungai, trader ...
Kenya shilling steady, seen vulnerable on excess liquidity NAIROBI: The Kenyan shilling was steady on Thursday, and traders said it was likely to remain capped within a range although excess liquidity, if it remained, could exert downward pressure on the currency.At 0803 GMT, commercial banks quoted the shilling at 86.40/50 per dollar, unchanged from Wednesday's close.Traders said if the central bank (CBK) mopped up excess liquidity, as it has done since last week, making it expensive to hold long dollar positions, the shilling ...
South Africa's rand holds steady before data JOHANNESBURG: The rand firmed slightly against the dollar early on Thursday as investor sentiment towards emerging markets improved but the currency held within recent ranges ahead of a slew of domestic data later in the session. Emerging markets have taken a hit during a bout of risk aversion as investors worry about growth in China and political tension in Ukraine and Turkey. However dealers said the selling was overdone and those currencies were now in ...
Kenyan shilling seen gaining on tea flows, central bank mop-ups NAIROBI: The Kenyan shilling was steady on Tuesday but is seen firmer on slack dollar demand due to inflows from tea exports and continuing liquidity mop-ups by the central bank, traders said.At 0811 GMT, commercial banks quoted the shilling at 86.25/45 to the dollar, compared with Monday's close of 86.40/50."Lack of demand (for dollars) at the moment is what is supporting the shilling. Also I think we are seeing the continuing efforts from central bank ...
Kenyan shilling steady, liquidity expected to weigh NAIROBI: The Kenyan shilling held steady on Monday but was expected to stay under pressure due to dollar demand and increased liquidity in the money markets.At 0813 GMT, commercial banks quoted the shilling at 86.50/60 to the dollar, unchanged from Friday's close."The shilling is on the back foot due to ample liquidity in the market. Overnight rates have dropped to as low as 5.6 percent, so you can imagine the kind of pressure there is ...


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,723.42 0.09
Arrow DAX 9,974.87 0.60
Arrow CAC-40 4,382.34 0.20
Arrow Nikkei 17,248.50 0.78
Arrow H.Seng 24,004.28 0.45
Arrow Sensex 28,438.91 0.19

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln