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Middle East & Africa


South Africa's rand near 7-month low, tracking euro weakness JOHANNESBURG: South Africa's rand weakened to near a seven month trough against the US dollar on Thursday, tracking a weaker euro and struggling for clear direction the day after a national holiday. The rand traded at 11.1700/dollar at 0637 GMT, trading within a recent tight range. It closed at 11.1285 in New York on Wednesday, when the domestic market was closed for a holiday. The euro, the currency of South Africa's biggest trading bloc, fell to 14-month lows after comments from European Central Bank President Mario Draghi on Wednesday that the bank will keep monetary policy accommodative. The rand's immediate support should come in at Monday's low of 11.1890, through which the currency will be back at seven month lows. Statistics South Africa is due to release producer price inflation data at 0930 GMT. The data is for August and economists expect factory gate prices continued to fall after three ...

Kenyan shilling edges up, modest inflows from tea sector help NAIROBI: Kenya's shilling strengthened slightly on Wednesday helped by some dollar inflows from tea exports, but traders said the currency could face pressure again without central bank support.At 0818 GMT, the shilling was trading at 89.00/89.10, compared with Tuesday's close of 89.15/25. Despite the modest climb, the currency remained near almost three-year lows and not far from levels where the central bank sold dollars last week."There are some dollars from the tea sector, and maybe ...
Ugandan shilling weakens on dollar demand by manufacturers KAMPALA: The Ugandan shilling edged lower on Wednesday as manufacturing firms bought dollars, but hard currency inflows from non-governmental organisations (NGOs) was cushioning the local currency.At 0903 GMT commercial banks quoted the shilling at 2,625/2,635, weaker than Tuesday's close of 2,620/2,630."Some little demand is coming in from manufacturing firms and it's pushing the shilling (weaker)," said Isaac Iga, chief dealer at Orient Bank."I think the shilling would have lost more value but a lot of ...
Ugandan shilling steady, liquidity mop-up helps KAMPALA: The Ugandan shilling was stable on Tuesday partly supported by a mop up of excess liquidity by the central bank, but traders said end month dollar demand could weaken the local currency.At 0843 GMT commercial banks quoted the shilling at 2,618/2,628, little-changed from Monday's close 2,620/2,630. "The liquidity sterilisation that was done yesterday is helping keep the shilling stable," said Ali Abbas, trader at Crane Bank.The central bank or Bank of Uganda (BoU) on ...
South Africa's rand in relief rally, China data supports JOHANNESBURG: South Africa's rand firmed against the US dollar on Tuesday, supported by better-than-expected manufacturing data out of China and as the greenback took a breather after a recent rally. Commodity-linked currencies recovered some losses after HSBC reported China's purchasing managers index beat market expectations. The world's second largest economy is also South Africa's biggest trading partner, making the resource-heavy rand sensitive to developments in Beijing. At 0646 GMT, the rand traded at 11.1350 to ...
Nigeria naira sheds 0.27pc as oil price continues to fall LAGOS: Nigeria naira slipped 0.27 percent on Monday amid a shortage of dollars on the interbank market, as higher demand coupled with declining global oil prices raised doubts about the central bank's ability to support the local currency.The naira closed at 163.85 to the dollar, below the three-month low of 163.45 naira it touched a week ago. The naira closed at 163.40 on Friday. "Dollar demand from politicians holding their assets in hard currency ahead ...
Dollar demand weighs down Kenyan shilling, shares surge NAIROBI: Kenya's shilling weakened on Monday after importers sought to buy dollars, partly unwinding a strengthening seen at the end of last week when the central bank intervened. The benchmark share index at the Nairobi bourse surged 1.86 percent, driven by demand from local investors pulled in by a recent rally in shares. At the 1300 GMT close of trade, leading banks posted the shilling at 88.80/90 per dollar, down from Friday's close of 88.50/60.The ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln