08292016Mon
Last update: Mon, 29 Aug 2016 10pm

Middle East & Africa

Markets - FXMM - Middle East & Africa

South Africa's rand firms after CPI slows, stocks up JOHANNESBURG: South Africa's rand marked a fourth straight session of gains against the dollar on Wednesday, aided by a surprise slowing of inflation locally and improved risk conditions abroad. Stocks benefited from rising global markets as investors grew more optimistic Britain would vote to remain in the European Union in its referendum on Thursday. Investors largely ignored election-linked violence in the capital Pretoria where two people were shot dead. By 1500 GMT the rand had firmed 0.4 percent to 14.6795 per dollar, climbing to a new seven-week peak as the greenback faltered after the United States central bank poured cold water on the chances of a rate hike in July. The rand kicked off the local trade flat, and crucially above technical resistance at 14.7000, before resuming the previous session's rally after consumer prices in May unexpectedly slowed to 6.1 percent year-on-year. "Recent rand appreciation and dissipating food inflation threats ...

Markets - FXMM - Middle East & Africa

Nigeria naira ends with first daily gain since peg ditched LAGOS: Nigeria's naira firmed to close at 281.50 to the dollar on Wednesday, its first daily gain since the central bank ditched its 16-month old peg on the currency on Monday. The naira, which slumped 30 percent at its float on Monday, has traded as weak as 285 to the dollar. It firmed on Wednesday following a central bank dollar sale to improve dollar liquidity.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Nigeria naira firms on thin volumes as traders eye dollar liquidity LAGOS: Nigeria's naira firmed to 281.72 in early trades on Wednesday on thin dollar volumes, traders said, on its third day as a floating currency after the central bank ditched a 16-month old peg on the exchange rate.The naira opened at 282 to the greenback, after closing weaker at 284 the previous day, traders said. The Nigerian currency slumped 30 percent at its float on Monday.Indicative rates on Wednesday showed banks were quoting to buy ...

Markets - FXMM - Middle East & Africa

Kenyan shilling steady, cautious before Brexit vote NAIROBI: The Kenyan shilling was stable on Wednesday in slow business with many market players staying on the sidelines to await the outcome of Britain's referendum on whether to exit the European Union, traders said.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

Ugandan shilling weakens due to higher dollar demand KAMPALA: The Ugandan shilling weakened on Wednesday as commercial banks bought dollars to cover their positions ahead of a potential British vote to exit the European Union.At 0837 GMT, commercial banks quoted the shilling at 3,365/3,375, slightly down from Tuesday's close of 3,360/3,370. Britons vote in a referendum on the country's membership in the EU on Thursday.Copyright Reuters, 2016 ...

Markets - FXMM - Middle East & Africa

South Africa's rand steady, caution prevails ahead of British referendum JOHANNESBURG: South Africa's rand pulled back from seven week highs against the dollar on Wednesday, with traders and analysts expecting caution to prevail on the eve of a British referendum on whether to remain in the European Union. Domestic economic headlines have taken a backseat in moving the currency this week, although inflation data due out at 0800 GMT could boost it slightly if higher than expected, raising the prospect of higher interest rates this ...

Markets - FXMM - Middle East & Africa

Nigeria's naira extends losses after currency peg removed LAGOS: Nigeria's naira weakened against the dollar for a second day on Tuesday after the central bank removed its currency peg in an effort to alleviate chronic foreign currency shortages choking growth.The naira traded 1.1 percent weaker at 285 to the dollar at 1000 GMT, with $9 million traded. It had slumped 30 percent on Monday.The central bank caved into pressure to effectively devalue the naira in the wake of falling prices for oil, the ...