08282016Sun
Last update: Sun, 28 Aug 2016 01am

Middle East & Africa

Markets - FXMM - Middle East & Africa

South Africa's rand resumes plunge, stocks lower as Brexit wrongfoots risk assets JOHANNESBURG: South Africa's rand fell as much as 3 percent against the dollar on Monday as the effects of Britain's vote to leave the European Union continued to weigh on global risk demand, while stocks also suffered. By 1545 GMT the rand had slipped 2.45 percent to 15.4580 per dollar, erasing most of the recovery that had seen the unit close at 15.0890 in New York on Friday. The rand had tumbled more than 8 percent early on Friday to a three-week trough of 15.6800 in the wake of the Brexit vote as investors dumped riskier emerging market currencies in favour of safe-havens like currencies such as the Japanese yen. Bonds were steady, with the yield on the benchmark paper due in 2026 up 1.5 basis points to 9.125 percent. Traders expect emerging market currencies like the rand to remain on the back foot as the impact of the Brexit ...

Markets - FXMM - Middle East & Africa

South Africa's rand falls as Brexit aftershocks weigh JOHANNESBURG: South Africa's rand weakened against the dollar in early trade on Monday as investors' appetite for risk took a hit from Britain's vote to leave the European Union.At 0642 GMT, the rand traded at 15.1800 versus the dollar, 0.6 percent weaker from its New York close on Friday. It had weakened more than 1 percent earlier in the session."Markets remain cautious and are likely to remain so for a significant period of time as ...

Markets - FXMM - Middle East & Africa

Uganda shilling falls as Brexit weighs on confidence KAMPALA: The Ugandan shilling weakened on Friday, as global fears over the economic ramifications of Britain's vote to leave the European Union triggered a scramble among commercial banks to beef up their dollar positions. At 0851 GMT, commercial banks quoted the shilling at 3,380/3,390, weaker than Friday's close of 3,365/3,375.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Kenyan shilling steady on central bank assurances, shares extend losses NAIROBI: Kenya's shilling was steady on Friday, supported by the central bank's assurance it would step in to calm any jitters about the impact of Britain's vote to exit the European Union, but some banking stocks and other shares extended losses.Equity Bank and Co-operative Bank were down more than 2 percent, although Kenya Commercial Bank was unchanged.The benchmark NSE20 index of leading shares closed on Thursday at 3,744 points, its lowest level since mid-2012, after ...

Markets - FXMM - Middle East & Africa

Nigeria sells 112bn naira treasury bills, yields rise LAGOS: Nigeria sold 79.45 billion nairas ($282.74 million) of three-month to one-year treasury bills on Wednesday at higher yields than at its previous auction, the central bank said on Friday. The bank said it sold 18.12 billion naira of three-month paper at a yield of 9.99 percent, up from 8 percent at a sale on June 15. It raised 11.33 billion naira of six-month debt at 12.3 percent against 9.35 percent, while a total of ...

Markets - FXMM - Middle East & Africa

South Africa's rand gains on British referendum, stocks flat JOHANNESBURG: South Africa's rand stretched a recent rally into its fifth day on Thursday, defying technical and fundamental odds to trade at its firmest in over one month as Britain voted on its European Union status. Stocks were flat, failing to find footing in the volatile global markets as investors cautiously eyed the outcome of the British vote. By 1530 GMT the rand had firmed 0.96 percent to 14.4800 per dollar as overnight polls indicating ...

Markets - FXMM - Middle East & Africa

South Africa's rand firmer, eyes on British referendum JOHANNESBURG: South Africa's rand extended gains against the dollar in early trade on Thursday as cautious optimism that British voters would opt to stay in the European Union in the session helped risk appetite. At 0635 GMT, the rand traded at 14.5920 per dollar, 0.2 percent firmer from its New York close on Wednesday. The currency is trading at its strongest levels against the dollar since May 3, according to Thomson Reuters data.Focus was on ...