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Rand recovers after Fed support, mining woes could weigh  JOHANNESBURG: The rand rallied 0.6 percent against the dollar on Friday, strengthening with other emerging market assets and shaking off concerns about unrest in the mining sector after the US Federal Reserve announced a third round of monetary easing.   The rand gained to 8.2040 against the dollar at 0704 GMT, after closing at 8.2440 in the previous session.   The currency reversed a 1 percent fall after the Fed said it would buy $40 billion of mortgage assets every month until the US jobs picture improved.   "After yesterday's Fed announcement the dollar is under pressure across the board. We've had a surge in equities and commodities, so for the day we could see further strength in the rand," a local currency trader said.   The currency's next resistance level is around 8.15, the rand's previous low from earlier this week.   "The initial market reaction has been positive. The real test is whether it helps the US economy ...

Kenyan shilling weakens vs dollar on oil sector orders  NAIROBI: The Kenyan shilling weakened against the dollar in early trade on Thursday, undermined by oil sector importers buying greenbacks, but traders said they expected central bank's mopping up of liquidity to support the local currency.   At 0816 GMT, commercial bank s quoted the shilling at 84.55/65 per dollar, 0.5 percent weaker than Wednesday's close of 84.10/30.   "The dollar is slightly higher due to an up tick of demand from the oil guys," said Dickson Magecha, a ...
S.Africa JOHANNESBURG: The rand fell 3 percent against the dollar, recording it biggest daily plunge in nearly three months on Wednesday afternoon as New York traders came into a weaker rand and triggered stop-losses that took the currency to a week-low. South Africa's currency was sold during local trade because of a festering mining strike that has hit the country's platinum belt. On Wednesday, strikers forced the world's biggest platinum producer Anglo American to shut down some ...
South Africa JOHANNESBURG: South Africa's rand held steady against the dollar on Wednesday in anticipation of further stimulus for the US economy, but the prospect of a nationwide strike in the country's mining sector could weigh on the currency in the days ahead. At 0714 GMT, the rand traded at 8.1800 to the dollar, little changed from Tuesday's New York close of 8.1710. The market is awaiting the German Constitutional Court's ruling on the euro zone's bailout fund on ...
South Africa JOHANNESBURG: South Africa's rand followed the euro and firmed against the dollar on Tuesday despite the local current account recording its largest deficit in nearly four years in the second quarter. The euro advanced to a four-month high against the dollar on increased expectations a German court will back the euro zone bailout fund, while the greenback fell broadly on speculation the Federal Reserve will ease monetary policy further this week to boost a slumping US ...
South African rand steadies, bonds flat ahead of data  JOHANNESBURG: South Africa's rand steadied against the dollar on Tuesday, trading cautiously ahead of key local data released the day ahead of a constitutional court ruling in Germany on whether Berlin can take part in a permanent euro zone bailout fund. The rand traded at 8.1755 at 0602 GMT against the dollar, little changed from Monday's New York close of 8.19 after hitting a one-month high against the dollar in the previous session. "The rand at the ...
Nigeria LAGOS: Nigeria's naira eased against the US dollar on the interbank market on Monday after a surge in demand by one lender buying the greenback for its customers, dealers said.   The local currency closed at 157.80 naira to the dollar, weaker than Friday's close of 157.55 naira.   The naira had firmed to 157 naira level last week from 158 to the dollar after the state-owned energy company NNPC sold around $480 million to some banks.   "The dollar inflow ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln