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Ugandan shilling weakens on importers' need for dollars KAMPALA: The Ugandan shilling lost ground against the dollar on Wednesday, as importers bought the U.S. currency, but traders said the shilling could recoup losses if debt yields rise at auction later in the day.At 1118 GMT commercial banks quoted the shilling against the dollar at 2,605/2,615, weaker than Tuesday's close of 2,600/2,610."Healthy demand has been coming in and pushing the shilling (multiple) higher," said Centenary Bank Trader Sage Daniel Muganza, citing dollar demand from importers.Faisal Bukenya, head of market making at Barclays Bank said the significant appetite for the dollar was mainly coming from firms in the energy and manufacturing sectors, but the local currency could get a boost during a debt auction."If the results of today's auction show a surge in yields then I anticipate the shilling might climb back (strengthen)."The central Bank of Uganda was expected later on Wednesday to release results of a Treasury bill auction ...

Kenyan shilling weakens, stocks up slightly NAIROBI: The Kenyan shilling weakened on Wednesday as banks squared positions ahead of an interest rate decision, while stocks closed a fraction higher.At close of trade at 1300 GMT, commercial banks quoted the shilling at 88.70/80 to the dollar, compared with Tuesday's close of 88.60/70.At its meeting on Wednesday, the central bank held its benchmark lending rate at 8.50 percent, in line with what traders had earlier expected.The decision was announced after markets had closed.Kenya's ...
Kenyan shilling weakens, central bank intervention eyed NAIROBI: The Kenyan shilling weakened on Wednesday as banks squared positions ahead of an interest rate decision, with some traders anticipating the central bank might sell dollars to support the local currency.At 0745 GMT, commercial banks quoted the shilling at 88.70/80 to the dollar, compared with Tuesday's close of 88.60/70.Kenya's inflation rate in August rose to its highest level since June 2012, making it more likely the central bank will lift interest rates in coming ...
Egyptian pound steady on official, black markets CAIRO: Egypt's pound held steady at a central bank dollar sale on Wednesday, with the bank saying it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Monday's rate.In the unofficial market, the pound was also steady, trading at 7.38 to the dollar, one trader said.The rate for dollar sales has stayed in a very tight range since the beginning of June, after the bank allowed the pound to weaken ...
Rand falls to three-week lows JOHANNESBURG: South Africa's rand traded at its weakest in more than three weeks against the dollar on Tuesday, as political tensions between Russia and Ukraine dented appetite for riskier emerging market assets.Yields on longer dated government bonds rose after demand for debt at the higher end of the curve came in much lower at the latest weekly auction, compared with previous sales. The yield for on the 2026 benchmark jumped 12 basis points to 8.115 ...
Kenyan shilling eases, shares rise on Safaricom acquisition NAIROBI: The Kenyan shilling eased slightly on Tuesday on end-of-month dollar demand, while stocks closed higher on news of an acquisition by telecoms firm Safaricom.At the close of trade, commercial banks quoted the shilling at 88.60/70 to the dollar, compared with Monday's close of 88.50/60."There was some end-month dollar demand that came through, mainly from oil and also manufacturers. At the same time there were no dollar inflows from tea," said Martin Runo, senior trader ...
South Africa's rand falls to three-week lows in risk-averse trade JOHANNESBURG: South Africa's rand traded at its weakest in more than three weeks against the dollar on Tuesday, as political tensions between Russia and Ukraine dented appetite for riskier emerging market assets.Yields on longer dated government bonds rose after demand for debt at the higher end of the curve came in much lower at the latest weekly auction, compared with previous sales.The yield for on the 2026 benchmark jumped 12 basis points to 8.115 percent, ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln