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Kenyan shilling firms, Eurobond news helps NAIROBI: The Kenyan shilling firmed slightly on Thursday, riding on positive sentiments after the country successfully sold its debut Eurobond for $2 billion.At 0921 GMT, commercial banks quoted the shilling at 87.35/45 to the dollar, up from Wednesday's close of 87.50/60.On Wednesday, the National Treasury confirmed it had raised a total $2 billion with a debut Eurobond with 5-year and 10-year tranches. The cash will be used for budget support and repayment of a $600 million syndicated loan.A day earlier, a senior official said the Eurobond had been oversubscribed and had received bids worth $8.8 billion."It's slightly stronger. I suppose it is sentiments from the Eurobond and confidence shown by international investors in Kenya because of oversubscription in the bond," Andlip Nazir, senior trader at I&M Bank, said."I think that's pushing the market. So there is good demand at these levels but we should see a gradual shilling strengthening."Traders said ...

Kenya shilling in slight gains against the dollar NAIROBI: The Kenyan shilling eked out modest gains against the dollar on Wednesday and traders said the band it was likely to trade in had widened following a successful debut Eurobond.At 0655 GMT, commercial banks posted the shilling at 87.50/60 per dollar, slightly up from Tuesday's close of 87.55/65."It is more reaction to the positive news on the Eurobond," said a senior trader with a commercial bank, referring to the country's maiden sovereign bond that ...
Ugandan shilling under pressure ahead of tax payments KAMPALA: The Ugandan shilling weakened on Tuesday as banks covered short dollar positions ahead of an expected shortage of liquidity due to tax payments.At 0908 GMT, commercial banks quoted the shilling at 2,575/2,585, slightly down from Monday's close of 2,570/2,580."The pressure is being driven by demand from some of the players who are short and are just covering positions," said Sage Daniel Muganza, a trader at Centenary Bank.Benon Okwenje, a trader at Stanbic Bank, said ...
Kenyan shilling gains from successful Eurobond NAIROBI: The Kenyan shilling strengthened modestly against the dollar on Tuesday after the country's debut Eurobond received bids worth more than four times the $2 billion sought.At 0747 GMT, commercial banks posted the shilling at 87.80/90 per dollar, slightly stronger than Monday's close of 87.90/88.10."We have traded a tad firmer today on the back of improved sentiments possibly on the successful debut Eurobond," said Duncan Kinuthia, head of trading at Commercial Bank of Africa.The east ...
South Africa's rand flat but vulnerable to more weak data JOHANNESBURG: South Africa's rand was largely flat against the dollar on Tuesday but could come under pressure ahead of the Reserve Bank's latest quarterly bulletin, which is expected to show a sizeable widening of the current account deficit. The rand remains vulnerable to negative domestic news after falling as much as 1.3 percent on Friday when agency Fitch cut its outlook for South Africa while Standard and Poor's downgraded its rating outright. South African markets ...
Kenyan assets slip after attack on coastal town NAIROBI: The Kenyan shilling edged down against the dollar on Monday, after gunmen killed at least 50 people in an attack on the coastal town of Mpeketoni. Shares also fell.At the 1300 GMT close of the market, commercial banks posted the shilling at 87.90/88.10, down slightly from Friday's close of 87.85/95."There was a knee-jerk reaction to what I think is the Mpeketoni attack," said Chris Muiga, a trader at National Bank.The assault at Mpeketoni was ...
Nigeria naira up 0.25pc as funds, oil firm sell dollars LAGOS: Nigeria's naira firmed against the U.S. currency on Monday, lifted by inflows from offshore investors participating in a debt auction this week and dollar sales from the local unit of Chevron, dealers said.The unit ended at 162.70 naira to the dollar, up 0.25 percent from Friday's close of 163.10 naira.Dealers said the local units of some international banks bought the naira on behalf of their offshore clients investing in Nigerian assets, and Chevron also ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln