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Ugandan shilling marginally stronger as dollar demand slows KAMPALA: The Ugandan shilling firmed on Wednesday, buoyed by slowing dollar demand from corporates but its outlook was still seen as bearish on scant hard currency inflows and fears over rising government spending.At 0925 GMT commercial banks quoted the shilling at 3,290/3,300, stronger than Tuesday's close of 3,310/3,320.The local currency is now 16 percent weaker against the greenback so far this year."Demand from both interbank and corporates has slowed down a bit and we're seeing the shilling benefit from that," said Faisal Bukenya, head of market making at Barclays Bank.A central bank sell-off of unspecified amount of dollars on Friday helped check a relentless depreciation momentum for the shilling that was fuelled by soaring interbank demand.Although it is now off its all-time low of 3,365/3,375 hit on June 19, most traders still point to a likelihood of renewed depreciation pressure on the back of a surge in government spending, a ...

Egyptian pound steady at official auction, slightly weaker on black market CAIRO: Egypt's central bank kept the pound's exchange rate steady at 7.53 to the US dollar at a foreign exchange auction on Tuesday, with black market rates slightly weaker. The central bank has held the official exchange rate unchanged for four months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading. In Tuesday's auction the bank said it had offered $40 million and ...
South Africa's rand weakens as rally for riskier assets pauses JOHANNESBURG: South Africa's rand weakened more than one percent to the dollar on Tuesday, softening to a one week low of 12.2300 per greenback as a recent rally for riskier assets petered out. According to one trader, technical factors were also beginning to filter through with the 12.30 support level in sight, putting some strain on the dollar rand cross.Copyright Reuters, 2015 ...
Egyptian pound steady on official market, stronger on black market CAIRO: Egypt's central bank kept the pound's exchange rate steady at 7.53 to the dollar at a foreign exchange auction on Sunday, and the currency was slightly stronger on the black market.The central bank has held the official exchange rate steady for four months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading.In Sunday's auction the bank said it had offered and sold ...
South Africa's rand pauses ahead of Greece talks JOHANNESBURG: South Africa's rand was largely unchanged against the dollar on Friday as a brief rally on hopes of a delayed US interest rate hike fizzled out and investors awaited the latest on Greece's debt crisis.At 0702 GMT the rand was trading 0.03 percent stronger at 12.2390 to the dollar compared with its New York closing level on Thursday.The rand gained 0.6 percent on Thursday as signals that the US Federal Reserve will not raise ...
South Africa JOHANNESBURG: South Africa's rand slipped against a firm dollar on Wednesday as headline inflation rose to a 2015 peak in May, opening the door for further losses ahead of a U.S. Federal Reserve meeting.At 1400 GMT the rand had weakened 0.55 percent to 12.4350 per dollar, closing in on the 12.50 technical point that could be breached as markets search the Fed's statement later in the session for clues on the timing of a rate ...
Kenyan shilling weakens on energy demand, stocks rise NAIROBI: Kenya's shilling closed a touch weaker on Tuesday after a late flurry of dollar demand from the energy sector, while stock rose.At market close of 1300 GMT, commercial banks quoted the shilling at 97.25/45 to the dollar, compared with Monday's close of 97.25/35. In afterhours trading the shilling weakened further, to 97.40/60."In the last hour or so we have seen quite a bit of demand from the energy sector," a trader at one Nairobi-based ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln