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Middle East & Africa


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, its highest in nearly a week, while the instrument maturing next year edged up 1 basis point to 6.63 percent.The rand touched a session low of 10.7510, the softest it has been since Aug. 8, and was down 0.6 percent on the day at 10.7425 by 1552 GMT."There appears to be a general risk-off sentiment when looking across the EMEA space at present," Tradition Analytics said in a market note."Russia sanction risks are still the ...

Ugandan shilling firms on thin liquidity, debt auctions KAMPALA: The Ugandan shilling strengthened on Tuesday on a shortage of the local currency and an interbank sell-off in expectation of dollar inflows from offshore investors targeting Treasury auctions.At 0927 GMT commercial banks quoted the shilling at 2,600/2,610, stronger than Monday's close of 2,608/2,618.The central bank conducted a seven-day repo on Monday, sucking out local currency, though it did not disclose how much it had taken out."There isn't much liquidity to fund building of (dollar) ...
Kenyan shilling steady, eyes on central bank action on liquidity NAIROBI: The Kenyan shilling eased slightly on Tuesday and was expected to keep in a tight range, with traders saying they were watching for central bank action in the money markets.At 0807 GMT, commercial banks quoted the shilling at 88.50/70 to the dollar, compared with Monday's close of 88.50/60.Traders said they were watching to see if the central bank will roll over a reverse repurchase agreement that injected 30 billion shillings into a tight money ...
South Africa's rand slips to week low against the dollar JOHANNESBURG: South Africa's rand fell to its lowest level in a week against the dollar on Tuesday, as another indicator showing domestic economic weakness and a public holiday in the United States combined to push the currency lower. The local unit slipped 0.26 percent to 10.7065 per dollar by 0555 GMT, its weakest point since August 26, after closing at 10.6785 in New York. The rand edged weaker after trading flat on Monday in a ...
Kenya shilling eases slightly, stocks edge higher NAIROBI: The Kenyan shilling closed slightly weaker on Monday due to dollar demand from oil companies, while stocks edged higher.At close of trade at 1300 GMT, commercial banks quoted the shilling at 88.50/60 to the dollar, compared with Friday's close of 88.40/50.The slight easing was in line with earlier trader forecasts which pointed to dollar demand carrying over from August. Typically demand for the US currency comes from importers in sectors such as manufacturing, energy ...
South Africa's rand treads narrow path, weak economy a strain JOHANNESBURG: South Africa's rand traded largely flat against the dollar in a lacklustre Monday session due to a holiday in the United States, with weak domestic economic fundamentals likely to keep the currency under pressure.A political crisis in neighbouring Lesotho, while not directly impacting the rand, could also send out an investor-negative signal about stability in the region, traders said.The local unit drifted in a narrow 10.6460/6845 range during the session, and was at 10.6775 ...
Ugandan shilling gains as central bank soaks up liquidity KAMPALA: The Ugandan shilling strengthened on Monday as the central bank drew some liquidity out of the market and corporate demand for dollars diminished.At 0941 GMT, commercial banks quoted the shilling at 2,608/2,613, stronger than last Friday's close of 2,610/2,615."The central bank is mopping up surplus shillings, which has pushed up the local unit a bit," said David Bagambe, trader at Diamond Trust Bank. " I think what is also helping is that demand from ...


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln