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Middle East & Africa


South Africa's rand extends gains, bond yields slide JOHANNESBURG: South Africa's rand gained more than 1 percent against the dollar on Wednesday and government bonds were also firmer, taking a breather after a heavy sell-off which pushed the currency to new four-year lows the day before.The rand climbed to 9.95 per dollar, its strongest in five days, while the yield for the benchmark 2026 bond fell 23 basis points to 7.895 percent.Copyright Reuters, 2013 ...

Kenyan shilling seen weaker as stock market investors book gains NAIROBI: The Kenyan shilling was steady early on Wednesday, supported by tea exporters selling dollars, but traders expect it to come under pressure from foreign investors exiting the stock market.At 0727 GMT, commercial banks quoted the shilling at 85.00/20 per dollar, barely changed from Tuesday's close of 84/95/85.15."Tea dollar are trickling into the market and this has provided some support for the shilling," said a trader at one commercial bank."But a sell-off on the equities ...
Energy sector dollar demand weakens Ugandan shilling KAMPALA: The Ugandan shilling weakened on Tuesday, undermined by higher dollar demand from energy importers, but its range was seen as limited pending the government's budget presentation.At 0903 GMT, commercial banks quoted the currency of Africa's largest coffee exporter at 2,585/2,595, weaker than Monday's close of 2,580/2,590."Demand from oil importers has weakened the shilling a bit, but broadly speaking, appetite for the dollar is generally poor," said Ahmed Kalule, trader at Bank of Africa."So we ...
Kenyan shilling steady, vulnerable to offshore dollar demand NAIROBI: The Kenyan shilling was steady on Thursday, but traders said it remained vulnerable to importers and offshore investors taking profit from this year's shares rally.At 0732 GMT, commercial banks quoted the shilling at 85.00/20 to the dollar, barely changed from Wednesday's close of 85.10/20."The shilling might weaken gradually towards 85.50 in coming days. We expect some importer dollar demand and offshore buyers," said John Muli, a trader at African Banking Corporation.Kenya's main NSE-20 share ...
Kenyan shilling firms on tea sector inflows, shares dip NAIROBI: The Kenyan shilling ended firmer on Tuesday helped by tea exporters selling foreign currency and a relatively weaker dollar globally. Shares dipped for the second session.At the 1300 GMT close, commercial banks quoted the shilling at 85.05/15 per dollar, firmer than the 85.10/30 closing levels of the two previous sessions.Wilson Mutai, a trader at Gulf African Bank, noted some tea proceeds later in the session and said with reduced end-of-month dollar demand "we should ...
S.Africa's rand gains nearly 2 percent against falling dollar JOHANNESBURG: South Africa's rand strengthened nearly 2 percent against the greenback on Monday, largely buoyed by broad-based dollar weakness after data showed a contraction in the US manufacturing sector.The rand climbed to a three-day high of 9.86 per dollar after closing Friday's trade at 10.0550. Copyright Reuters, 2013 ...
BCEAO central bank keeps key rate unchanged at 2.75pc DAKAR: The Monetary Policy Committee of the eight-nation West African franc zone central bank BCEAO, kept its prime lending rate unchanged at 2.75 percent, the governor of the bank said on Wednesday.The bank cut the rate by 25 basis points from 3 percent in its last meeting in March.Copyright Reuters, 2013 ...


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,819.75 0.20
Arrow DAX 9,470.17 0.08
Arrow CAC-40 4,381.04 0.34
Arrow Nikkei 15,424.59 0.23
Arrow H.Seng 24,742.06 0.01
Arrow Sensex 26,638.11 0.29

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln