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Kenyan shilling steady, traders eye liquidity levels NAIROBI: The Kenyan shilling was steady on Monday and traders predicted it would stay in a tight trading range for now, with a bias for easing.At 0835 GMT, commercial banks quoted the shilling at 87.80/88.00 to the dollar, compared with Friday's close of 87.90/88.00.On Friday, the shilling weakened slightly when banks bought dollars after signs that a domestic funding crunch was easing."With the market's improved liquidity, we'll see interbank players choose to cover their short (dollar) positions that they were carrying," said a senior trader at one commercial bank.Overnight borrowing rates on the interbank market had shot up over the past two weeks after the government delayed the release of funds to departments and local authorities.The central bank injected funds into the market through reverse repos from Tuesday to Thursday last week, helping to alleviate the crunch. .Some traders forecast tighter liquidity as a new central bank cash reserve ratio ...

Egyptian pound steady on both official and black markets CAIRO: The Egyptian pound remained stable at a central bank dollar sale on Monday and on the black market.The central bank said it sold $39.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Thursday.The rate for the dollar sales has stayed within a very tight range since the beginning of June, after the bank allowed the pound to weaken in May. It had offered $40 million on ...
Ugandan shilling seen gaining from sluggish dollar demand KAMPALA: The Ugandan shilling was little changed on Monday but is expected to strengthen as importing firms remain on the sidelines awaiting the dollar to weaken before buying.At 0926 GMT, commercial banks quoted the shilling at 2,613/2,623, a notch up from Friday's close of 2,615/2,625."Most players are betting the shilling still has room to climb," said Faisal Bukenya, head of market-making at Barclays Bank Uganda."We are going to see a lot of players keep on ...
South African rand eases as global tensions drive uncertainty JOHANNESBURG: South Africa's rand weakened slightly against the dollar on Monday as political tensions in Ukraine continued to drive global risk aversion. The currency edged close to a week-high of 10.6250 before pulling back within its recent range, trading at 10.6680 by 0644 GMT, down 0.16 from its New York close on Friday. Government bonds were slightly stronger, with yields on the benchmark 2015 paper down 1 basis point to 6.695 percent and that on ...
Kenyan shilling under pressure as funding crunch eases NAIROBI: The Kenyan shilling edged down on Friday, weighed by demand for dollars from banks replenishing their dollar positions as a domestic funding crunch eases.At 0800 GMT, commercial banks posted the shilling at 87.95/88.05, down from Thursday's close of 87.85/95."As money markets loosen up, people are squeezing out dollar shorts," said a trader with a leading commercial bank.Banks had sold off their dollars to fund their shilling positions in the last few sessions after short-term ...
Kenyan shilling steady, focus on liquidity; overnight rates up  NAIROBI: The Kenyan shilling was steady against the dollar on Thursday and traders said they were on the look out for the central bank injecting more money into the market to ease tight liquidity that has led to rising interbank lending rates.At 0635 GMT, commercial banks quoted the shilling at 87.80/88.00 to the dollar, compared with Wednesday's close of 87.85/95.On the interbank market, the weighted average lending rate rose to 11.4557 percent on Wednesday from ...
Egyptian pound steady at central bank sale, weaker on black market CAIRO: The Egyptian pound remained stable at a central bank dollar sale on Thursday and weakened slightly on the black market.The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Wednesday.The rate for the dollar sales has stayed within a very tight range since the beginning of June, after the bank allowed the pound to weaken in May. It had offered $40 ...

 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 02, 2014
Reserves $13.581 bln