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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 10.7589 percent a day earlier, while volumes borrowed fell to 7.52 billion shillings from 15.48 billion shillings ($176.31 million) a day earlier."We are just watching for liquidity. It's been very tight. So the little (dollar) demand which is coming in is being squared by guys selling to fund their Kenya shilling (requirements)," John Muli, a trader at African Banking Corporation, said.Traders said there was dollar demand from oil companies.On Wednesday, the central bank said it ...

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 ...
Kenya shilling steady, liquidity tight NAIROBI: The Kenyan shilling was steady on Tuesday and tipped to stay in a narrow range, supported by tight money markets.At 0801 GMT, commercial banks quoted the shilling at 87.75/85 to the dollar, compared with Monday's close of 87.80/85.The weighted average interbank lending rate rose to 10.5181 percent on Monday from 10.1280 percent on Friday, indicating a liquidity squeeze.Traders said liquidity was likely to remain scarce for a while, offering support to the shilling by ...
Ugandan shilling weakens on dollar demand, aid worries KAMPALA: The Ugandan shilling lost ground on Tuesday on dollar demand from banks and worries that Western donors were unlikely to restore aid swiftly after a widely criticised anti-gay law was nullified last week.At 0927 GMT commercial banks quoted the shilling at 2,615/2,625, weaker than Monday's close of 2,610/2,620."There's demand by some of the banks who are short on the dollar and it's hitting the shilling," said Faisal Bukenya, head of market making at Barclays ...
South Africa's rand rangebound, could weaken on PMI JOHANNESBURG: South Africa's rand traded within a narrow range against the dollar on Tuesday, with scope to weaken if an HSBC survey at 0715 GMT points to deteriorating confidence in the manufacturing sector. At 0651 GMT the rand was at 10.6740 to the greenback, just 0.2 percent softer than Monday's close. Government debt edged higher, with the yield for paper maturing in 2026 dipping 2 basis points to 8.26 percent. The yield on the shorter-dated ...

 



 
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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