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Middle East & Africa


Kenyan shilling steady, seen easing in days ahead NAIROBI: The Kenyan shilling held steady on Tuesday but traders said they expected it to weaken in coming days due to dollar demand from sectors such as energy and telecommunications.At 0735 GMT, commercial banks quoted the shilling at 91.20/30 to the dollar, unchanged from Monday's close.Traders said the shilling was expected to stay under pressure, with demand for dollars coming from energy and telecommunications companies and other goods importers."There has been real demand in the market recently, from last week and this has also been seen this week. And there don't seem to be signs that the demand will wear off soon," said Nahashon Mungai, a trader at Kenya Commercial Bank."At the moment demand surpasses any supply we might be getting for dollars in the market. So the current trend is still a bearish one for the shilling."Traders said they expected the shilling, which has lost 0.6 percent versus the ...

Egyptian pound steady on official market, strengthens on black market CAIRO: The Egyptian pound was unchanged at a central bank dollar sale on Monday and strengthened on the black market.The bank offered $40 million at the sale and said it had sold $38.4 million at a cut-off price of 7.1401 pounds to the dollar, a rate unchanged from its last sale on Sunday.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective ...
Nigeria naira up as oil firms sell dollars, stocks down LAGOS: Nigeria's naira closed almost 1 percent higher against the US currency on Monday, after three oil companies sold the greenback, increasing dollar liquidity on the interbank market, dealers said.The unit closed at 181.20 naira to the dollar, firmer than Friday's close of 183. The naira had weakened to 183 during mid-day trades before the dollar sales.Dealers said China's Addax and Itali's Eni sold a combined $19 million while LNG sold an undisclosed amount of ...
Kenyan shilling slips, corporate dollar demand weighs NAIROBI: Kenya's shilling edged lower on Monday and traders said the trend was for further weakening as corporate demand for dollars picked up during the month.At the 1300 GMT close, banks quoted the shilling at 91.20/30 the dollar, compared with Friday's close of 91.05/25.Traders said the shilling, which has lost 0.7 percent this month, would trade between 91.00 and 91.50 in the coming days."There are not too many fresh factors to give the currency direction," ...
Ugandan shilling weakens on dollar demand from banks KAMPALA: The Ugandan shilling weakened modestly on Monday on the back of strong demand for dollars from commercial banks.At 0926 GMT, commercial banks quoted the shilling at 2,858/2,868, weaker than Friday's close of 2,853/2,863."Much of the appetite is interbank driven," said Benon Okwenje, trader at Stanbic Bank. "The general consensus is that the shilling's outlook remains weak on the back of this interbank demand."But he said mid-month corporate tax payments, which typically lifts demand for ...
Kenyan shilling steady, seen under pressure in coming days NAIROBI: Kenya's shilling was steady on Monday but traders said it was expected to come under renewed pressure in coming days.At 0734 GMT, the shilling was quoted at 91.10/20 to the dollar, compared with Friday's close of 91.05/25."No changes so far today, but I think the general trend is for a weaker shilling. It's just pure demand and supply for now," a senior trader at one commercial bank said.Traders said they forecast the shilling, which ...
Central bank dollar sales offer some respite for Kenya shilling  NAIROBI: Kenya's shilling was slightly stronger in early trading on Friday after some pressure on the currency was lifted by dollar sales from the central bank in the previous sessions.By 0713 GMT, the shilling was trading at 90.95/91.15 to the dollar, compared with Thursday's close of 91.10/20."At this point the fortunes of the shilling are dependent on global factors. What weakened it sharply was the dollar rally globally," said Chris Muiga, senior trader at National ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln