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Kenyan shilling steady after central bank sells dollars NAIROBI: The Kenyan shilling recovered losses to end unchanged on Thursday after the central bank sold an unspecified amount of dollars to banks to prop up the local currency, dealers said.At the 1300 GMT close of trade, commercial banks posted the shilling at 90.55/65, similar to the previous day's close, after earlier hitting 90.65/75, its lowest level since November 2011.Traders said the central bank sold dollars in the morning but warned the currency would remain under pressure from pre-holiday demand for dollars in the face of thin volumes.The bank has been intervening in the market when the shilling approaches 90.50 to the dollar, dealers said."Whatever intervention happened is not strong enough to give the support required," said a trader at a commercial bank.A fall in tourist numbers following a spate of Islamist attacks in Kenya and a decline in the price of tea, both key sources of hard currency inflows ...

Kenyan shilling firms after central bank sells dollars NAIROBI: The Kenyan shilling strengthened on Thursday when the central bank sold dollars after the currency touched a new 3-year low earlier in the session, traders said.At 0847 GMT commercial banks posted the shilling at 90.30/50 to the dollar, firmer than Wednesday's close of 90.55/65.Before the central bank's intervention, the shilling had fallen to 90.65/75, its lowest level since November 2011."Whatever intervention happened is not strong enough to give the support required," said one trader ...
Egyptian pound steady at official auction, weaker on black market CAIRO: The Egyptian pound held steady at a central bank dollar sale on Thursday, but weakened slightly on the unofficial market.The bank offered $40 million and said it had sold $38.8 million at a cut-off price of 7.1401 pounds a dollar, unchanged from its last sale on Wednesday.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates.In ...
South Africa's rand on shaky ground ahead of ratings reviews JOHANNESBURG: South Africa's rand traded sideways against the dollar on Thursday after falling to fresh six year lows the day before, with the market bracing for a downgrade when Fitch and Standard & Poor's review the country's credit rating this week. Government bonds yields hovered near Wednesday's multi-week highs, with latest data from the JSE securities exchange showing foreigners sold nearly 2 billion rand ($174 million) of local debt in the previous session. At 0700 ...
Kenyan shilling hits fresh 3-year low, shares fall NAIROBI: The Kenyan shilling fell to a three-year low on Wednesday as importers bought dollars, while shares slid as investors booked their gains ahead of the holidays.At the 1300 GMT close, commercial banks posted the shilling at 90.55/65 per dollar, down from the previous day's close of 90.45/55.Traders said importers were buying dollars to meet their obligations ahead of the holidays. Importers usually require dollars to pay for bringing petroleum products and machinery required for ...
Nigerian naira gains after oil firms, central bank sells dollars LAGOS: Nigeria's naira firmed 1.5 percent against the dollar on Wednesday after state-oil company NNPC sold around $200 million, coupled with a central bank intervention to boost interbank forex market liquidity, dealers said.The naira closed at 179.90 in volatile trades, gaining some ground after it eased to an intraday low of 184.65 naira before the dollar sales. The naira closed at 182.60 to the dollar previous day.The central bank has been struggling to keep the ...
South Africa's rand keeps falling as credit downgrade threatens JOHANNESBURG: The rand tumbled to six-year lows and bond yields spiked on Wednesday, despite an end to the U.S. dollar's bull run and a slowdown in domestic inflation.By 1536 GMT the South African currency had slipped 1.27 percent to 11.6000, its weakest since October 2008. It soon gave up a modest recovery when investors cashed in profits from the dollar's recent strong run.Local government bonds also wavered, with the yield on the benchmark issue due ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln