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Kenyan shilling steady, seen weaker on end-month dollar buying NAIROBI: Kenya's shilling was steady on Friday in subdued trading, after gradually weakening this week toward a level where the central bank sold dollars to offer support last week. Demand for dollars by the energy and telecoms sectors to meet their end-month obligations had eased slightly, with the companies reluctant to take long dollar positions on the last day of the week and near the close of the quarter. By 0810, the shilling was trading at 89.10/89.30 to the greenback, little changed from Thursday's close of 89.15/89.25. "There is not much going on," said Chris Muiga, a senior trader at National Bank of Kenya. "Today will be a slow day." The shilling has closed in on 89.50 where the central bank sold dollars to offer support last week.But traders said the central bank was unlikely to step for now as long as weakness appeared to reflect a need for dollars ...

Ugandan shilling weakens as demand for dollars grows KAMPALA: The Ugandan shilling weakened on Friday amid higher demand for dollars from manufacturers and energy companies. At 0938 GMT, commercial banks quoted the shilling at 2,650/2,660, down slightly from Thursday's close of 2,540/2,650. "The shilling has come under significant pressure from demand being exerted by manufacturing and energy firms," said Ahmed Kalule, a trader at Bank of Africa. The shilling is down 4.9 percent against the dollar this year, and market players expect it ...
Kenyan shilling weakens on end-month dollar demand by companies  NAIROBI: Kenya's shilling weakened in early trade on Thursday on demand for dollars from energy and telecoms firms, driving the currency close to levels where the central bank intervened with support last week.By 0809 GMT, the shilling was trading at 89.10/30, compared with Wednesday's close of 89.00/20. A week ago, the central bank sold dollars to help the currency when it fell to around 89.50."We are still slowly sliding. We see continued (dollar) demand from ...
South Africa's rand near 7-month low, tracking euro weakness JOHANNESBURG: South Africa's rand weakened to near a seven month trough against the US dollar on Thursday, tracking a weaker euro and struggling for clear direction the day after a national holiday. The rand traded at 11.1700/dollar at 0637 GMT, trading within a recent tight range. It closed at 11.1285 in New York on Wednesday, when the domestic market was closed for a holiday. The euro, the currency of South Africa's biggest trading bloc, fell ...
Kenyan shilling edges up, modest inflows from tea sector help NAIROBI: Kenya's shilling strengthened slightly on Wednesday helped by some dollar inflows from tea exports, but traders said the currency could face pressure again without central bank support.At 0818 GMT, the shilling was trading at 89.00/89.10, compared with Tuesday's close of 89.15/25. Despite the modest climb, the currency remained near almost three-year lows and not far from levels where the central bank sold dollars last week."There are some dollars from the tea sector, and maybe ...
Ugandan shilling weakens on dollar demand by manufacturers KAMPALA: The Ugandan shilling edged lower on Wednesday as manufacturing firms bought dollars, but hard currency inflows from non-governmental organisations (NGOs) was cushioning the local currency.At 0903 GMT commercial banks quoted the shilling at 2,625/2,635, weaker than Tuesday's close of 2,620/2,630."Some little demand is coming in from manufacturing firms and it's pushing the shilling (weaker)," said Isaac Iga, chief dealer at Orient Bank."I think the shilling would have lost more value but a lot of ...
Ugandan shilling steady, liquidity mop-up helps KAMPALA: The Ugandan shilling was stable on Tuesday partly supported by a mop up of excess liquidity by the central bank, but traders said end month dollar demand could weaken the local currency.At 0843 GMT commercial banks quoted the shilling at 2,618/2,628, little-changed from Monday's close 2,620/2,630. "The liquidity sterilisation that was done yesterday is helping keep the shilling stable," said Ali Abbas, trader at Crane Bank.The central bank or Bank of Uganda (BoU) on ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln