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Middle East & Africa


Nigeria naira sheds 1pc to touch 185.3 after market open LAGOS: The Nigerian naira fell one percent to touch 185.30 to the dollar shortly after the interbank market opened for trade on Thursday, Thomson Reuters data showed.The unit opened at 183.40 naira to the greenback, the same level it closed at the previous day.Dealers said liquidity on the interbank market was thin, although the central bank had sold $249 million at 168 naira at its twice-weekly forex auction on Wednesday to quell demand.Copyright Reuters, 2015 ...

Kenyan shilling steady, seen easing NAIROBI: The Kenyan shilling was steady on Wednesday and traders said it was expected to stay under pressure due to importer dollar demand.At 0757 GMT, commercial banks quoted the shilling at 91.35/45 to the dollar, compared with 91.30/40 at Tuesday's close."The shilling remains on the backfoot. Though right now what we are seeing is a slowdown in importer (dollar) buying, we should remain in the backfoot. The outlook still remains weak for the shilling," a ...
South Africa's rand, bonds weaker after World Bank cut growth forecast JOHANNESBURG: South Africa's rand weakened against the dollar early on Wednesday while bond yields rose on renewed economic concerns after the World Bank lowered its global growth forecast for 2015.By 0615 GMT the rand was down 0.43 percent to 11.5665 per dollar, giving up gains it had eked out in the previous session to touch its weakest level this week following an overnight close of 11.5170.The World Bank predicted the global economy would grow 3 ...
Kenyan shilling weakens, stocks rise NAIROBI: The Kenyan shilling weakened on Tuesday, undermined by dollar demand from the energy, telecommunications and manufacturing sectors, while Centum Investments helped lift the stock market.At the close of trade at 1300 GMT, commercial banks quoted the shilling at 91.30/40 to the dollar, from Monday's close of 91.20/30. During the session the shilling touched 91.35/45, a new more than three-year low."At the moment demand surpasses any supply we might be getting for dollars in the ...
Nigeria's naira sheds 1.4pc against dollar LAGOS: Nigeria's naira fell 1.4 percent against the U.S. currency on Tuesday, with no fresh dollar supply and after the central bank dropped a directive that had stopped commercial lenders from taking positions in the forex market, dealers said.The unit closed at 183.70 naira to the dollar, weaker than Monday's close of 181.20 naira.The central bank on Tuesday said commercial banks can hold 0.1 percent of their shareholders' funds in foreign currency, reversing a directive ...
Nigeria's naira eases despite central bank dollar sales LAGOS: Nigeria's naira eased against the U.S. currency on Tuesday despite the central bank selling more dollars the previous day at its forex auction, due to strong demand for the greenback, dealers said.The central bank sold $249 million at 168 naira to the dollar, at its twice-weekly auction on Monday, dealers said higher than the $200 million it earlier offered. The bank has been selling the dollar at 168 naira since after it devalued the ...
Ugandan shilling weakens as companies seek dollars KAMPALA: The Ugandan shilling weakened on Tuesday, hurt by dollar appetite from manufacturing and telecom firms, and market players said the local currency was seen easing further due to demand from fuel importers.At 1025 GMT, commercial banks quoted the shilling at 2,863/2,873, weaker than Monday's close of 2,858/2,868."We've had demand from telecoms and manufacturing players," said Faisal Bukenya, head of market making at Barclays Bank Uganda.The shilling has been under pressure since the year started, ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln