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Kenyan shilling steady, Nation Media weighs on shares NAIROBI: The Kenyan shilling was barely changed against the dollar on Thursday while shares of media firms fell ahead of their earnings reports for last year, dragging the benchmark index slightly lower.At the 1300 GMT close of trade, leading commercial banks posted the shilling at 86.45/55 per dollar, barely moved from Wednesday's close of 86.55/65.Traders said the effect of excess liquidity in the market on the shilling would be limited, since the yield on holding shillings overnight was still relatively higher than holding dollars."It's pure demand and supply for now. Unless I get demand from customers, I am better off earning 6 percent on shillings, rather than earning 0.1 percent on dollars," said a senior trader at one commercial bank.The weighted average interbank lending rate fell to 5.9712 percent on Wednesday from 6.7704 percent a day earlier, pointing to increased shilling liquidity.The central bank mopped up 10 billion shillings in ...

Egyptian pound strengthens slightly at central bank dollar sale CAIRO: The Egyptian pound strengthened against the dollar at a central bank sale of foreign currency on Thursday, but was flat on the black market. The central bank sold $38.3 million to banks at the auction, with a cut-off price of 6.9504 to the dollar, compared with 6.9505 pounds at Wednesday's auction. On the black market, the dollar was offered at around 7.36 on Thursday, a market participant said. The pound has been under pressure ...
Egyptian pound inches up at central bank dollar sale CAIRO: The Egyptian pound strengthened slightly against the dollar at a central bank sale of foreign currency on Wednesday, but has been trading weaker on the black market. The central bank sold $38.3 million to banks at the auction, with a cut-off price of 6.9505 pounds to the dollar, compared with 6.9506 pounds at Monday's auction. On the black market, the dollar was offered at around 7.37 pounds on Tuesday, a market participant said. The ...
Kenyan shilling steady, seen vulnerable NAIROBI: The Kenyan shilling held steady on Wednesday, but was expected to come under pressure on increased liquidity in the money markets and demand from the energy sector, traders said.At 0907 GMT, commercial banks quoted the shilling at 86.35/45 to the dollar, the same as Tuesday's close.Traders said the shilling could be cushioned by tea dollar sales, and that it had already priced in Tuesday's hold in the central bank's key lending rate."Anything other than ...
South Africa's rand steady as risky assets recover JOHANNESBURG: South Africa's rand was little changed on Wednesday after strengthening more than 1 percent against the dollar the previous day as tensions between Ukraine and Russia eased. The rand was at 10.7750 to the dollar at 0649 GMT, 0.1 percent softer than Tuesday's New York close. Its gains on Tuesday came after Russian President Vladimir Putin said he would use force in Ukraine only as a last resort, lifting stock markets and risky assets ...
Nigeria's forex reserves down 6.75pc on month to $40.25bn LAGOS: Nigeria's foreign exchange reserves fell 6.75 percent month-on-month to $40.25 billion as of Feb. 27, the bank's latest data showed on Friday, as the central bank boosted its intervention in the market to prop up the ailing naira currency.Africa's top oil exporter's reserves stood at $43.18 billion on Jan. 27. The reserves have fallen 15 percent since this time last year, when they were $47.34 billion.Copyright Reuters, 2014 ...
Nigeria naira opens 0.55 pct down against US dollar at 165.40 LAGOS: Nigeria's naira opened 0.55 percent down on Thursday to hit 165.40 against the US currency, after rising demand at the interbank market soaked up available dollars sold by the central bank the previous day, dealers said. The local currency had weakened further to 165.50 naira at 0848 GMT, a week after Nigeria's president suspended its central bank governor, which spooked financial markets. The central bank on Wednesday intervened to lift the naira with dollar ...

 



 
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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