05302016Mon
Last update: Mon, 30 May 2016 12am

Middle East & Africa

Markets - FXMM - Middle East & Africa

Kenyan shilling holds steady, dividend payments eyed NAIROBI: The Kenyan shilling was unchanged against the dollar on Monday as traders turned their attention to dividend payments by local firms, to their shareholders abroad, to determine potential demand for dollars.At 0916 GMT, commercial banks posted the shilling at 101.15/25 per dollar. Local firms, especially banks with significant foreign shareholding, close their books from this week, meaning they will be buying dollars for dividends.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Ugandan shilling steady, seen gaining in coming days NAIROBI: The Ugandan shilling held steady on Friday, with month-end inflows and scarce liquidity expected to lend extra support to the local currency next week.At 0937 GMT commercial banks quoted the shilling at 3,305/3,315, unchanged from Thursday's close. "The shilling is likely to extend it's stability ... as the month-end flows are expected to render some support," Alpha Capital Partners said in a market report. Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

South Africa's rand flat, seen weakening in risk averse trade JOHANNESBURG: South Africa's rand was mostly flat in early trade on Friday, with analysts expecting it to weaken going into the weekend in an environment of low risk appetite. Stocks opened slightly in the red, with the JSE securities exchange's Top-40 index falling 0.4 percent.At 0702 GMT, the rand traded at 14.3285 versus the dollar, 0.07 percent off Thursday's New York close at 14.3185.Analysts said risk appetite was likely to be depressed ahead of a ...

Markets - FXMM - Middle East & Africa

South Africa's rand slightly softer in early trade, gains possible later JOHANNESBURG: South Africa's rand traded a touch weaker against the dollar on Thursday, but traders and analysts said it could turn firmer later if the European Central Bank kept euro zone interest rates at current lows. Stocks opened mostly flat at 0700 GMT, with the JSE securities exchange's Top-40 index dipping just 0.08 percent.The rand traded at 14.2695 versus the dollar, down 0.3 percent from Wednesday's New York close.But analysts and traders said further rand ...

Markets - FXMM - Middle East & Africa

South Africa's rand strengthens, stocks scale one-month high JOHANNESBURG: South Africa's rand remained on the frontfoot on Wednesday, rallying for a third consecutive session after data showing consumer inflation had slowed, easing pressure on the ailing economy.Stocks rose to a one-month high supported by higher precious metals prices, specifically platinum.By 1600 GMT the rand had gained 0.21 percent to 14.2350 per dollar, extending a two-week run that has seen the unit strengthen nearly 7 percent and break through major resistance points towards the ...

Markets - FXMM - Middle East & Africa

Kenyan shilling gains, helped by commercial bank dollar sales  NAIROBI: Kenya's shilling gained on Wednesday, helped by commercial banks unwinding their dollar positions due to subdued demand.At 0850 GMT, commercial banks quoted the shilling at 101.00/10 to the dollar, compared with Tuesday's close of 101.15/25. Traders said they forecast the shilling to trade in the 101.00 to 101.25 range against the dollar in the next few days.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Egypt pound weaker on black market amid dollar hoarding CAIRO: Egypt's currency weakened on the black market on Wednesday as traders speculated on a coming devaluation and hoarded dollars they believe will rise in value.Egypt, which relies heavily on imports, has been facing a dollar shortage since the popular uprising in 2011 drove away tourists and foreign investors, major sources of hard currency.The acute shortage has pushed businesses and individuals unable to source dollars in the official banking system to the black market, where ...