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Kenyan shilling firms after central bank sells dollars for second day NAIROBI: The Kenyan shilling firmed on Friday after the central bank sold an unspecified amount of dollars into the market for the second day in a row, but traders said there was still strong dollar demand.By 0830, commercial banks quoted the shilling at 88.25/89.35 to the dollar, from Thursday's close of 88.95/89.05. "Yes, the central bank has sold dollars for the second day," National Bank of Kenya trader, Ian Kahangara, said. The local currency of East Africa's biggest economy has been under pressure since last week due to dollar demand from importers, against scant hard currency inflows. Despite the injection of dollars, the shilling remained under pressure and was likely to weaken again, traders said. Traders said the central bank would be hard pressed to sustain its interventions without running down its own foreign exchange reserves, because hard currency inflows were scarce. "For how long will the central bank sustain ...

Egyptian pound steady on official and black markets CAIRO: Egypt's pound held steady at a central bank dollar sale on Thursday, with the bank saying it sold $38.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Wednesday's rate.In the unofficial market, the pound was trading at 7.35 to the dollar, also unchanged from Wednesday.The rate for dollar sales has stayed in a tight range since the beginning of June, after the bank allowed the pound to weaken in May. ...
Kenyan shilling firms after central bank dollar sale, stocks up NAIROBI: The Kenyan shilling bounced from near three-year lows on Thursday after the Central Bank of Kenya (CBK) sold an unspecified amount of dollars into the foreign exchange market. Stocks inched higher.However, traders said the shilling, which has lost 2.6 percent to the dollar so far this year, remained under pressure from importers seeking dollars and was likely to weaken again in the face of a shortage of hard currency inflows.The shilling closed at 88.90/89.00 ...
Kenyan shilling firms after central bank sells dollars NAIROBI: The Kenyan shilling bounced from near three-year lows on Thursday after the Central Bank of Kenya (CBK) sold an unspecified amount of dollars into the foreign exchange market, traders said.However, traders said the shilling, which has lost 2.6 percent to the dollar so far this year, remained under pressure from importers seeking dollars and was likely to weaken again in the face of a shortage of hard currency inflows.By 1100 GMT, commercial banks quoted ...
South Africa's rand firms before interest rate decision JOHANNESBURG: South Africa's rand firmed against the dollar early on Thursday before the Reserve Bank's fifth interest rate decision of the year as some market players anticipated a hike in rates. The bank has raised the repo rate by 75 basis points since the start of the year during what it calls a gradual hiking cycle as inflation rises. The bank said further moves will be highly dependent on data. The consensus of economists polled ...
Kenyan shilling hovers near 3-year low, stocks edge lower NAIROBI: The Kenyan shilling weakened on Wednesday, hovering near three-year lows due to dollar demand from the energy and telecoms sectors, and traders said importers buying dollars would keep it under pressure.On the Nairobi Securities Exchange (NSE), stocks edged lower, breaking a three-day rising streak.By close of trade at 1300 GMT, commercial banks quoted the shilling at 89.25/35 to the dollar, compared with Tuesday's close of 89.00/10."There's a bit of weakness. There was some demand ...
South Africa rand snaps 2-day gains despite hawkish local data JOHANNESBURG: South Africa's rand weakened against the dollar on Wednesday, as uncertainty over a key U.S. federal reserve policy statement overshadowed retail sales and inflation data that backed the case for a domestic rate hike this week.The rand rallied briefly after Statistics South Africa said consumer inflation quickened more than expected to 6.4 percent year-on-year in August, while retail sales rose 2.4 percent in July.The data could tilt the South African Reserve Bank towards hiking ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln