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Kenyan shilling holds steady, though further weakening seen NAIROBI: The Kenyan shilling steadied at three-year lows touched late last week on Monday as dollar demand eased at the start of the month.At 0730 GMT, commercial banks quoted the shilling at 94.60/70 to the dollar, the same level as Thursday's close and near lows last seen in November 2011.The market was closed on Friday for a public holiday."Corporate (dollar) demand has petered out after companies met their end-month demands last week," said a trader at a major commercial bank in Kenya, adding the currency was likely to stay within the 94.60/90 range over the coming days.Dollar demand from importers typically rises at the end of the month as companies settle their bills."We expect the shilling will continue weakening, attracting the attention of the central bank," the trader said. "That said, I think the central bank is resigned to the fundamental weaknesses of the currency, and will only step in ...

South Africa's rand slides after Fitchs warns of vulnerability JOHANNESBURG: The rand fell as much as 1.6 percent against the dollar on Thursday, after upbeat U.S. data boosted the greenback and ratings agency Fitch warned about South Africa's reliance on offshore portfolio inflows.The rand slid despite data showing South Africa's trade balance swung into a surplus of 482.5 million rand in March from a deficit of 8.7 billion rand in February.The currency hit a session trough of 11.9775 to the dollar, and was at ...
South Africa's rand gains 1.2pc as market bets on dovish Fed JOHANNESBURG: South Africa's rand climbed more than 1.2 percent to a 3-1/2 week high against the dollar on Wednesday, riding on an upswing in risk appetite after a raft of weak data dampened expectations for U.S. rate hikes.The rand touched 11.7190/dollar, its strongest since April 6 according to Thomson Reuters data, and was trading at 11.7455 by 1522 GMT, a 1.04 percent gain over Tuesday's New York close at 11.8685.It was one of the strongest ...
South Africa's rand gains 1.2 pct as market bets on dovish Fed JOHANNESBURG: South Africa's rand climbed more than 1.2 percent to a 3-1/2 week high against the dollar on Wednesday, riding on an upswing in risk appetite after a raft of weak data dampened expectations for US rate hikes. The rand touched 11.7190/dollar, its strongest since April 6 according to Thomson Reuters data, and was trading at 11.7455 by 1522 GMT, a 1.04 percent gain over Tuesday's New York close at 11.8685. It was one of ...
South Africa's rand, bonds firmer boosted by Greek compromise JOHANNESBURG: South Africa's rand climbed to a three-week high on Tuesday while yields on bonds fell as hopes of a resolution to Greece's debt crisis cheered emerging markets.By 1510 GMT the rand had firmed 1.53 percent to 11.8150 per dollar, within touching distance of the 11.80 resistance level it last touched on April 9.The local currency, along with its emerging market peers, was boosted by news that Greece had reshuffled its team handling talks with ...
South Africa's rand 1pc firmer, boosted by Greek compromise JOHANNESBURG: South Africa's rand firmed more than one percent to 11.8590, close to its strongest in a month, as optimism over the Greek debt crisis cheered the local unit. "The strength of the rand today is function of the Greek optimism after the PM (Alexis Tsipras) decided to change his negotiating team as a compromise to the ECB," said Dale Forssman, a fixed-income trader with World Wide Capital Securities. Copyright Reuters, 2015 ...
Kenyan shilling marginally weaker, shares tread water NAIROBI: The Kenyan shilling weakened slightly within three-year lows on Tuesday, while the benchmark share index was steady.At the close of trade, leading commercial banks quoted the shilling at 94.35/45 to the dollar, slightly down from Monday's closing rate of 94.25/35.Demand for dollars from firms seeking to meet their end month obligations had undermined the shilling, traders said.Kenya's central bank on Monday sold an unspecified amount of dollars to banks - the third time the ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln