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Middle East & Africa

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Nigeria naira eases on strong dollar demand LAGOS: Nigeria naira opened weaker to the dollar on Monday, after liquidity for the greenback dried up, with dealers not able to fill demand orders.The unit opened at 181.10 naira to the dollar, 0.6 percent weaker than its previous close and then quickly traded down to 182.25.Dealers expect the currency to weaken on Monday, given the level of demand, unless the central bank intervenes or oil companies sell dollars.Copyright Reuters, 2014 ...

South Africa's rand weaker as power supply falters again JOHANNESBURG: South Africa's rand weakened against the dollar on Monday, hit by on-going power constraints and weaker-than-expected Chinese trade data.State power utility Eskom said it would institute further rolling blackouts, following its largest power cuts in 9 months over the weekend, as one of its power stations failed to operate at full capacity.News of the cuts on Friday helped send the local unit to its weakest against the dollar since January and just short of ...
Nigerian naira weakens marginally in early trade LAGOS: The Nigerian naira weakened slightly in early trade on Friday, dealers said. It opened for trade at 180.50 to the dollar, and eased to 180.62 at 0818 GMT. It closed at 180.10 the previous day. The currency remains below a new target band of 160-176 to the dollar, set by the central bank last week after it devalued the currency by 8 percent. The naira has been hit by falling oil prices and the ...
Ugandan shilling flat, seen bearish on expected dollar demand KAMPALA: The Ugandan shilling was flat on Friday but traders were anticipating a slight weakening of the currency due to dollar demand from companies squaring positions before year-end. At 0918 GMT commercial banks quoted the shilling at 2,757/2,767, unchanged from Thursday's close. "The rush to square positions and the scanty trading... is likely to tip the balance towards a bearish unit," said Stephen Kaboyo of Alpha Capital Partners. Kaboyo, however, said the market was also ...
South Africa's rand on the ropes as economy weighs on sentiment JOHANNESBURG: South Africa's rand traded within easy reach of the previous day's three-week lows against the dollar on Friday, partly weighed down by concerns over the economic impact of a renewed power crunch.The currency retreated slightly after Reserve Bank data showed the country's net gold and foreign exchange reserves fell to $42.946 billion in November from $43.085 billion in October.At 0659 GMT, the rand was at 11.2175 against the dollar, down 0.17 percent from Thursday's ...
South Africa's rand vulnerable to weaker euro JOHANNESBURG: South Africa's rand weakened slightly against a robust dollar early on Thursday, looking vulnerable to bets that the European Central Bank would announce easing measures later in the day.With little on the domestic data calendar until next week's current account numbers, the rand is taking its cues from offshore, dealers said.A weaker euro, the currency of South Africa's biggest trading partner bloc, drove the rand to trade near the previous session's 2-1/2 week lows ...
Kenyan shilling steady amid intervention speculation NAIROBI: The Kenyan shilling held steady against the dollar on Thursday in cautious trades amid speculation the central bank would intervene again to prop up the local currency.At 0650 GMT, commercial banks posted the shilling at 90.20/30, unchanged from the previous day's close.The central bank sold an unspecified amount of dollars to banks just before the market closed on Wednesday, traders said, helping to lift the shilling from its intraday low of 90.40/50."Markets will remain ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln