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South Africa's rand hit as commodity currencies suffer JOHANNESBURG: South Africa's rand fell to seven-month lows against the dollar on Monday as commodity-linked currencies bore the brunt of expected weak growth in China, the world's largest consumer of raw materials.The rand has been on the back foot in recent weeks and was extending losses linked to South Africa's own poor economic fundamentals. This week sentiment is expected to be spearheaded from abroad.Emerging markets began the week on depressed tone after comments from China's finance minister on Sunday that suggested Beijing may accept lower economic growth rates instead of introducing fresh stimulus. The rand fell over 0.8 percent to 11.1725 to the dollar, hitting its weakest level since early February. Australia's currency also hit seven-month lows against the US dollar. "Signs of a China slowdown will additionally fuel concerns about South Africa's trade balance and demand for raw materials from Asia," said Anisha Arora, an emerging market analyst at ...

Ugandan shilling stable, seen firming on liquidity mop up KAMPALA: The Ugandan shilling was unchanged on Monday, but traders said it was seen firming slightly due to the central bank's action of mopping up excess liquidity from the market. At 0847 GMT commercial banks quoted the shilling at 2,620/2,630, little-changed from Friday's close of 2,621/2,631. The Bank of Uganda or central bank on Monday sought to mop up excess liquidity via repurchase agreements, but it was not immediately clear how much shillings were taken ...
Egyptian pound steady on official market, weakens on black market CAIRO: Egypt's pound held steady at a central bank dollar sale on Monday, with the bank saying it sold $38.4 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Thursday's rate.In the unofficial market, the pound was weaker, trading at 7.44 to the dollar, compared to 7.35 on Thursday.The rate for dollar sales has stayed in a tight range since the beginning of June, after the bank allowed the pound to weaken ...
Kenya shilling under pressure again after central bank action NAIROBI: Kenya's shilling weakened on Monday in a quiet start to the week's trading after the central bank intervened to support the currency by selling dollars in the two previous sessions.A downturn in the tourism industry, after a spate of bomb and gun attacks along the coast and in the capital this year, has hurt one of the east African country's major sources of hard currency.At 0752 GMT, the shilling was trading at 88.70/80 to ...
South Africa's rand seen stable in data-dry week JOHANNESBURG: South Africa's rand steadied against the dollar on Monday, with traders and analysts expecting it to drift in a narrow range in a week bereft of market moving data and interrupted by a public holiday on Wednesday.Market nerves were on an even keel after Reserve Bank Governor Gill Marcus announced last week she would not take up a second five year term in office.Most participants were betting that one of her deputies would succeed ...
Kenyan shilling firms after central bank sells dollars for second day NAIROBI: The Kenyan shilling firmed on Friday after the central bank sold an unspecified amount of dollars into the market for the second day in a row, but traders said there was still strong dollar demand.By 0830, commercial banks quoted the shilling at 88.25/89.35 to the dollar, from Thursday's close of 88.95/89.05. "Yes, the central bank has sold dollars for the second day," National Bank of Kenya trader, Ian Kahangara, said. The local currency of ...
Egyptian pound steady on official and black markets CAIRO: Egypt's pound held steady at a central bank dollar sale on Thursday, with the bank saying it sold $38.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Wednesday's rate.In the unofficial market, the pound was trading at 7.35 to the dollar, also unchanged from Wednesday.The rate for dollar sales has stayed in a tight range since the beginning of June, after the bank allowed the pound to weaken in May. ...

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln