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Middle East & Africa


Egyptian pound steady on official market CAIRO: Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Wednesday. The bank said it had offered $40 million and sold $38.4 million at a cut-off price of 7.5301 pounds per dollar, unchanged from its last auction, held on Monday.The central bank has now kept the official exchange rate steady for more than a month after letting the pound weaken in an effort to wipe out black market trading. Black market traders said activity had fallen dramatically because of that step and a cap the central bank put in place in February on the amount of dollars that could be deposited in banks. The limit on deposits discourages use of the black market by depriving those who want to exchange dollars outside official channels of a place to keep their funds.The rates at which banks are allowed to trade dollars are ...

South Africa rand recoups some losses, still near 13-year lows JOHANNESBURG: South Africa's rand recouped some of its steep losses on Wednesday as investors sold dollars to book profits, but still hovered near 13-year lows it hit after a sell-off of emerging market currencies in the previous session. At 1305 GMT the rand was trading 0.84 percent stronger to the dollar at 12.2645, after earlier hitting a session high of 12.2445. But the levels remained the lowest since 2002, according to Thomson Reuters data.The currency ...
Kenyan shilling slightly weaker, shares slip again NAIROBI: The Kenyan shilling eased on Wednesday as the dollar strengthened on world markets, while shares fell for the seventh consecutive session.At the 1300 GMT market close, the shilling ended at 91.65/75 to the dollar, compared with Tuesday's close of 91.60/70.The weakening was largely driven by the global strength of the dollar rather than local factors, said Chris Muiga, a senior trader at National Bank of Kenya.Another senior trader said the shilling had weakened to ...
Kenyan shilling weakens, stocks fall for sixth straight session NAIROBI: The Kenyan shilling weakened on Tuesday after oil importers bought dollars, while the benchmark share index fell for the sixth consecutive session.The shilling closed at 91.60/70 to the dollar, down from Monday's close of 91.40/50.Chris Muiga, a trader at National Bank, said the local currency was seen trading between 91.20/30 to 91.65/75 to the dollar in the coming days.Other traders said the shilling could buckle under the pressure of a stronger dollar, but recover ...
Ugandan shilling weakens to record low on dollar demand KAMPALA: The Ugandan shilling weakened on Monday, touching a new all-time low, undermined by demand for dollars from manufacturing and energy sectors.At 0921 GMT commercial banks quoted the shilling at 2,965/2,975, weaker than Friday's close of 2,955/2,965.The depreciation extended last week's losses and the local currency is now eyeing the key psychological level of 3,000."Demand is coming in from players in manufacturing and energy firms," said Faisal Bukenya, head of market making at Barclays Bank.The ...
Kenyan shilling slips on dollar demand, stocks edge lower NAIROBI: Kenya's shilling weakened on Monday after energy firms and manufacturers sought dollars, while the benchmark share index edged lower for the fifth session in a row.At the 1300 GMT close, the shilling was quoted at 91.40/50, compared to Friday's close of 91.15/25 per dollar.Sheikh Mehran, head of trading at I&M Bank, said pressure from corporate demand for dollars could soon be offset by any inflows from foreign investors buying a 12-year infrastructure bond, although ...
South African rand hits 13-year low as market sees US rate hike JOHANNESBURG: South Africa's rand fell to a new 13-year low to the dollar on Monday, after investors sold off emerging market currencies amid heightened expectations of an imminent interest rate hike in the United States.At 1508 GMT the rand was trading 0.21 percent softer at 12.0600 to the dollar after earlier stumbling 0.8 percent to 12.1330, its weakest level since early March 2002, according to Thomson Reuters data.The currency recouped some of its losses after ...


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln