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Kenya shilling under pressure again after central bank action NAIROBI: Kenya's shilling weakened on Monday in a quiet start to the week's trading after the central bank intervened to support the currency by selling dollars in the two previous sessions.A downturn in the tourism industry, after a spate of bomb and gun attacks along the coast and in the capital this year, has hurt one of the east African country's major sources of hard currency.At 0752 GMT, the shilling was trading at 88.70/80 to the dollar, compared with Friday's close of 88.50/60."There definitely has been pressure on the shilling in last couple of days. (Central Bank of Kenya) intervention has propped it up pretty well," said Nahashon Mungai, a foreign exchange trader at Kenya Commercial Bank. "It looks like the shilling is losing a bit of strength again this morning."Another dealer at a Nairobi-based commercial bank also noted the modest weakening but said the market was relatively quiet in ...

South Africa's rand seen stable in data-dry week JOHANNESBURG: South Africa's rand steadied against the dollar on Monday, with traders and analysts expecting it to drift in a narrow range in a week bereft of market moving data and interrupted by a public holiday on Wednesday.Market nerves were on an even keel after Reserve Bank Governor Gill Marcus announced last week she would not take up a second five year term in office.Most participants were betting that one of her deputies would succeed ...
Kenyan shilling firms after central bank sells dollars for second day NAIROBI: The Kenyan shilling firmed on Friday after the central bank sold an unspecified amount of dollars into the market for the second day in a row, but traders said there was still strong dollar demand.By 0830, commercial banks quoted the shilling at 88.25/89.35 to the dollar, from Thursday's close of 88.95/89.05. "Yes, the central bank has sold dollars for the second day," National Bank of Kenya trader, Ian Kahangara, said. The local currency of ...
Egyptian pound steady on official and black markets CAIRO: Egypt's pound held steady at a central bank dollar sale on Thursday, with the bank saying it sold $38.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Wednesday's rate.In the unofficial market, the pound was trading at 7.35 to the dollar, also unchanged from Wednesday.The rate for dollar sales has stayed in a tight range since the beginning of June, after the bank allowed the pound to weaken in May. ...
Kenyan shilling firms after central bank dollar sale, stocks up NAIROBI: The Kenyan shilling bounced from near three-year lows on Thursday after the Central Bank of Kenya (CBK) sold an unspecified amount of dollars into the foreign exchange market. Stocks inched higher.However, traders said the shilling, which has lost 2.6 percent to the dollar so far this year, remained under pressure from importers seeking dollars and was likely to weaken again in the face of a shortage of hard currency inflows.The shilling closed at 88.90/89.00 ...
Kenyan shilling firms after central bank sells dollars NAIROBI: The Kenyan shilling bounced from near three-year lows on Thursday after the Central Bank of Kenya (CBK) sold an unspecified amount of dollars into the foreign exchange market, traders said.However, traders said the shilling, which has lost 2.6 percent to the dollar so far this year, remained under pressure from importers seeking dollars and was likely to weaken again in the face of a shortage of hard currency inflows.By 1100 GMT, commercial banks quoted ...
South Africa's rand firms before interest rate decision JOHANNESBURG: South Africa's rand firmed against the dollar early on Thursday before the Reserve Bank's fifth interest rate decision of the year as some market players anticipated a hike in rates. The bank has raised the repo rate by 75 basis points since the start of the year during what it calls a gradual hiking cycle as inflation rises. The bank said further moves will be highly dependent on data. The consensus of economists polled ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
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WeeklyOctober 20, 2014
Reserves $13.436 bln