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Kenyan shilling firms, shares fall for fifth session NAIROBI: The Kenyan shilling firmed slightly on Wednesday thanks to commercial banks selling dollars to meet local currency-denominated tax payments, while shares fell for a fifth straight session.At close of trade at 1300 GMT, commercial banks quoted the shilling at 86.10/30 to the dollar, compared with Tuesday's close of 86.20/30."It's just mainly a bit of interbank selling to meet tax payments," a senior trader at one commercial bank said.Traders said earlier in the session the shilling was expected to remain under pressure from importer demand as the month drew to a close."There is a bit of corporate (dollar) demand at this level. It's demand-driven at the moment, and I feel by next week it will be back up again, maybe to the 86.40 level," said Sheikh Mehran, senior trader at KCB Bank Group.Importers typically seek dollars at the end of each month to meet payment obligations."We expect the shilling to ...

Ugandan shilling steady, seen stronger on dollar inflows KAMPALA: The Ugandan shilling was steady on Wednesday and was expected to appreciate in the days ahead as the central bank mopped up liquidity and dollars flowed in from offshore investors buying debt. At 1036 GMT, commercial banks quoted the currency of east Africa's third-largest economy at 2,453/2,458, little changed from 2,452/2,457. "The repo that the central bank did today coupled with suppressed demand for dollars will give the shilling a bullish tone going forward," ...
Egyptian pound steady on official, black markets CAIRO: The Egyptian pound was unchanged at a central bank foreign currency sale on Wednesday and traded within its recent range on the black market. The central bank sold $39.6 million to banks with a cut-off price of 6.9512 pounds to the dollar, unchanged from the last auction on Monday. The bank had offered to sell $40 million. On the black market, the dollar was traded for 7.33/7.35 pounds on Wednesday, having stayed within a ...
South Africa's rand steady ahead of CPI data JOHANNESBURG: South Africa's rand was steady against the dollar on Wednesday amid hesitant trading before the release of January consumer inflation data.The rand was at 10.8750 to the dollar at 0614 GMT, in line with Tuesday's New York close, after retreating from a near one-month high of 10.8190 hit earlier in the week.Statistics South Africa will release January CPI data at 0800 GMT. Economists polled by Reuters expect inflation to accelerate to 5.7 percent year-on-year ...
South Africa's rand trades near multi week highs JOHANNESBURG: South Africa's rand was trading close to its highest level in nearly four weeks on Monday after extending gains made late last week as the dollar struggles and sentiment towards emerging markets improves. The rand was at 10.8580 to the dollar at 0654 GMT, in line with its New York close on Friday, the second consecutive session that ended above the key 11 mark. The dollar fell to six-week lows against a basket of ...
South Africa's rand, government bonds slightly weaker JOHANNESBURG: South Africa's rand slipped against the dollar on Thursday after failing to sustain gains made the previous day. The rand was at 11.0495 to the dollar at 0616 GMT, down 0.4 percent from Wednesday's New York close. The currency traded above 11.000 to the dollar on Wednesday, reaching a session high of 10.9300, before weakening to close just shy of the psychologically key level. Yields on the 2026 and 2015 government bonds each rose ...
Kenyan shilling stable against the dollar NAIROBI: The Kenyan shilling was barely changed against the dollar on Wednesday, helped by export earnings, and traders said it was expected to stay put until fresh factors emerge.At 0620 GMT, leading commercial banks quoted the shilling at 86.10/20 to the dollar, barely moved from Tuesday's closing rate of 86.15/25.The currency of east Africa's biggest economy has been stuck in a rut in recent days due to sluggish demand for dollars from corporate customers.It has ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln