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Ugandan shilling seen gaining from sluggish dollar demand KAMPALA: The Ugandan shilling was little changed on Monday but is expected to strengthen as importing firms remain on the sidelines awaiting the dollar to weaken before buying.At 0926 GMT, commercial banks quoted the shilling at 2,613/2,623, a notch up from Friday's close of 2,615/2,625."Most players are betting the shilling still has room to climb," said Faisal Bukenya, head of market-making at Barclays Bank Uganda."We are going to see a lot of players keep on the sidelines which could push the shilling to 2,600 levels."Market participants said the shilling, which is down 3.6 percent in the year to date, could be cushioned from further pressure by weaker demand in the wider economy."Consumer spending is weak which might explain the very slow appetite (for dollars) we are seeing from importers," said Shahzad Kamaluddin, trader at Crane Bank .The central bank is scheduled to set lending rates for August and September on ...

South African rand eases as global tensions drive uncertainty JOHANNESBURG: South Africa's rand weakened slightly against the dollar on Monday as political tensions in Ukraine continued to drive global risk aversion. The currency edged close to a week-high of 10.6250 before pulling back within its recent range, trading at 10.6680 by 0644 GMT, down 0.16 from its New York close on Friday. Government bonds were slightly stronger, with yields on the benchmark 2015 paper down 1 basis point to 6.695 percent and that on ...
Kenyan shilling under pressure as funding crunch eases NAIROBI: The Kenyan shilling edged down on Friday, weighed by demand for dollars from banks replenishing their dollar positions as a domestic funding crunch eases.At 0800 GMT, commercial banks posted the shilling at 87.95/88.05, down from Thursday's close of 87.85/95."As money markets loosen up, people are squeezing out dollar shorts," said a trader with a leading commercial bank.Banks had sold off their dollars to fund their shilling positions in the last few sessions after short-term ...
Kenyan shilling steady, focus on liquidity; overnight rates up  NAIROBI: The Kenyan shilling was steady against the dollar on Thursday and traders said they were on the look out for the central bank injecting more money into the market to ease tight liquidity that has led to rising interbank lending rates.At 0635 GMT, commercial banks quoted the shilling at 87.80/88.00 to the dollar, compared with Wednesday's close of 87.85/95.On the interbank market, the weighted average lending rate rose to 11.4557 percent on Wednesday from ...
Egyptian pound steady at central bank sale, weaker on black market CAIRO: The Egyptian pound remained stable at a central bank dollar sale on Thursday and weakened slightly on the black market.The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Wednesday.The rate for the dollar sales has stayed within a very tight range since the beginning of June, after the bank allowed the pound to weaken in May. It had offered $40 ...
Egyptian pound steady at central bank sale, stronger on black market CAIRO: The Egyptian pound remained stable at a central bank dollar sale on Wednesday and strengthened slightly on the black market.The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Monday.The rate for the dollar sales has stayed within a very tight range since the beginning of June, after the bank allowed the pound to weaken in May. It had offered $40 ...
Kenyan shilling eases, traders eye central bank action on liquidity NAIROBI: The Kenyan shilling eased slightly on Wednesday, taking cue from central bank's action of injecting local currency into the market a day earlier after tight supply saw interbank lending rates rise, discouraging banks from holding dollars.Traders said they were watching to see if the Central Bank of Kenya (CBK) would return to the market, a day after it injected 8 billion shillings ($90 million) using reverse repurchase agreements following days of strained shilling liquidity ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln