All
 

 

Just in:  

You are here: Home»Markets»FXMM»Middle East & Africa

Middle East & Africa

Archive

Kenyan shilling off three-year low on central bank liquidity mop up  NAIROBI: The Kenyan shilling strengthened slightly against the dollar on Monday after the central bank mopped up liquidity, lifting the local currency from a three-year low.At 1030 GMT, commercial banks posted the shilling at 89.75/85 to the dollar, a touch stronger on Friday's close of 89.85/95, which was its weakest level since December 2011.The central bank on Monday sought to mop up 20 billion shillings ($222.97 million) in excess liquidity, using repurchase agreements (repo) and term auction deposits."This mopping up... has propped up the shilling slightly," said Eric Gathecha, a trader at I&M Bank.The shilling has weakened about 4.1 percent against the dollar this year, mainly due to a slump in hard currency inflows from tourism following Islamist attacks this year. Inflows of dollars from tea exports have also dwindled owing to weaker prices caused by a global glut of the commodity.The central bank has regularly drained excess liquidity from ...

South Africa's rand under pressure after Moody's downgrade JOHANNESBURG: South Africa's rand dipped to its weakest level in over four weeks against the US dollar on Friday following a credit rating downgrade by Moody's in the previous session. Moody's cited South Africa's poor prospects for medium-term growth and rising public debt as the main reasons for cutting Africa's most advanced economy's credit rating to Baa2 from Baa1. Moody's did, however, adjust South Africa's outlook from negative to stable, while identifying ongoing energy shortages ...
Kenyan shilling falls to new 3-year low, central bank action eyed NAIROBI: The Kenyan shilling weakened to a new three-year low on Friday, hurt by worries over the country's ailing tourism sector and traders said they expect the central bank to intervene and prop up the shilling.At 0745 GMT, commercial banks posted the shilling at 89.80/90.00 to the dollar, weaker on Thursday's close of 89.70/80, its weakest level since December 2011.Traders said they expect the central bank to defend the shilling, following comments made by the ...
Kenyan shilling steady, central bank action eyed NAIROBI: The Kenyan shilling hovered at three-year lows on Thursday, with traders expecting the central bank to intervene by selling dollars if the local currency slid further.At 0811 GMT, commercial banks posted the shilling at 89.70/90 to the dollar, barely changed on Wednesday's close of 89.70/80, its weakest level since December 2011.The shilling has weakened about 4 percent against the dollar this year. The central bank has previously sold dollars to protect the currency, and ...
Egyptian pound steady on official and black markets CAIRO: Egypt's pound held steady on Thursday both at a central bank dollar sale and on the black market.The bank said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from the previous sale on Wednesday.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates. The bank offered $40 million on ...
Egyptian pound steady on official and black markets CAIRO: Egypt's pound held steady on Wednesday both at a central bank dollar sale and on the black market.The bank said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from the previous sale on Monday.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates. The bank offered $40 million on ...
Kenyan shilling seen stronger after central bank talks up currency  NAIROBI: The Kenyan shilling hovered at near three-year lows on Wednesday, with traders saying it could strengthen after the central bank on Tuesday indicated that it had adequate reserves to defend the local currency.At 0835 GMT, commercial banks posted the shilling at 89.55/65 to the dollar, slightly firmer on Tuesday's close of 89.60/70. The shilling had at one point on Tuesday slipped to 89.65/75, its weakest level since December 2011.The rate-setting Monetary Policy Committee (MPC) ...

 



 
Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,723.42 0.09
Arrow DAX 9,974.87 0.60
Arrow CAC-40 4,382.34 0.20
Arrow Nikkei 17,248.50 0.78
Arrow H.Seng 24,004.28 0.45
Arrow Sensex 28,438.91 0.19






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln