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Middle East & Africa

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South Africa's rand, bonds firmer as eurozone woes ease pressure JOHANNESBURG: The rand halted its recent slide against the US dollar and bonds traded close to fresh one-month highs as the likelihood of deeper stimulus measures by the European Central Bank boosted the local currency. The rand firmed 0.31 percent by 0634 GMT to 11.6725 per dollar, reversing losses of the previous session that saw it sink to 11.7085 overnight. The benchmark government bond due in 2026 continued a recent strong run, with the yield shedding 10 basis points in early trade to 7.835 percent, its lowest since Dec. 10. Analysts said bonds benefited from a sharp selloff in local equities as investors repositioned some of their debt. Chances of further policy easing by the ECB increased after Germany's December inflation slowed to its lowest in five years, pushing the euro lower and temporarily easing pressure on some riskier emerging market assets. In local data, HSBC publishes its December survey ...

Kenyan shilling steady, eyes on central bank action NAIROBI: The Kenyan shilling was steady on Monday and traders said they were watching for any action the central bank takes during the session to see what direction the shilling would take.At 0735 GMT, commercial banks quoted the shilling at 90.75/85 to the dollar, the same as Friday's close."There is no demand in the market. The market has been thin, so the moves are not really because of demand or supply," Sheikh Mehran, head of ...
South Africa's rand dragged lower on bets on eurozone money printing JOHANNESBURG: South Africa's rand weakened to a two-and-a-half week low against the dollar early on Monday as investor bets on quantitative easing in the eurozone and weak global growth prospects strained sentiment toward emerging market assets.By 0625, the local unit had slipped 0.25 percent to 11.7400 per dollar, its weakest level since Dec 17 amid growing expectations the European Central Bank would print money.The eurozone is battling weak economic activity and consumer spending that has ...
Ugandan shilling weakens due to importer dollar demand KAMPALA: The Ugandan shilling weakened sharply on Monday, trading below a key psychological level due to increased dollar demand from commercial banks and importers and traders said the outlook was bearish due to the stronger greenback.At 0817 GMT commercial banks quoted the shilling at 2,798/2,808, weaker than Friday's close of 2,780/2,790."Importers are exerting strong demand ... and because banks are anticipating a weaker unit they are also taking positions," said Ahmed Kalule, a trader at ...
Egyptian pound steady in official market, stronger on black market CAIRO: The Egyptian pound held steady at a central bank dollar sale on Monday and strengthened on the black market.The bank offered $40 million at the sale and said it had sold $38.4 million at a cut-off price of 7.1401 pounds to the dollar, a rate unchanged from its last sale.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over ...
South Africa's rand weakens, vulnerable to weaker euro JOHANNESBURG: South Africa's rand slipped to a two-week low against the U.S dollar on Friday, tracking a weaker euro which stumbled after the European Central Bank said it will soon embark on outright money-printing.Mario Draghi, the head of the ECB, fuelled expectation that the bank would take bolder steps on monetary stimulus later this month, sending the euro to its lowest level in 4 1/2 years against the dollar.The rand is also under pressure on ...
South Africa's rand weaker as EM sentiment remains sour JOHANNESBURG: South Africa's rand stumbled into the New Year more than half a percent weaker against the US dollar on Friday, driven lower by increasingly negative sentiment towards riskier emerging market assets.On Thursday China, the world's number two economy and a major trading partner for South Africa, said its official Purchasing Managers' Index (PMI) slipped to 50.1 in December, the lowest level of 2014.Signs that the giant Asian economy's growth is cooling could see a ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln