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Middle East & Africa


South Africa's rand edges higher, eyes on Fed, local factory data JOHANNESBURG: South Africa's rand ticked higher against the dollar on Tuesday and was expected to circle around current levels for much of the day ahead of new US Federal Reserve chairwoman Janet Yellen's speech to Congress. The market would also keep an eye on unemployment and factory output data for clues on whether the local central bank might increase interest rates further this year after a surprise 50 basis point hike last month to rein in inflation. By 0637 GMT the rand was 0.14 percent firmer at 11.1245 to the rand compared with its Monday close. "Dollar/rand is languishing, last week's downside tests below 11.00 are now forgotten, but with no real upside pressures either," said Rand Merchant Bank analyst John Cairns in a note. "After trading in the 11-teens for most of yesterday, expect modest downside this morning - with dips to 11.06/08 - thanks to dollar weakness and ...

Ugandan shilling stable, seen firming due to tight liquidity KAMPALA: The Ugandan shilling was stable on Friday in thin trading but was expected to strengthen next week due to scarce local currency liquidity. At 0853 GMT commercial banks quoted the currency of east Africa's third-largest economy at 2,465/2,471 to the dollar, compared with Thursday's close of 2,468/2,473. "The market is flat in terms of activity although there's a shortage of shillings which has potential to boost the unit possibly next week," said Manohar Miryala, ...
Kenya shilling holds steady against the dollar NAIROBI: The Kenyan shilling was little changed on Friday, trading in the narrow range of recent days as importer demand for dollars stayed subdued.At 0722 GMT, commercial banks posted the shilling at 86.05/15 per dollar, barely moved from Thursday's closing price of 86.00/10.Market participants said the shilling was likely to be hemmed into a tight band of 85.80-86.30 until importers started to order more dollars."There is pretty weak demand and everybody is looking for lower ...
South Africa's rand, government bonds slightly firmer JOHANNESBURG: South Africa's rand firmed slightly against the dollar on Monday as it gradually recovers from a five-year low hit last week, but local and international data due in the next few days could determine whether it holds on to its gains. The rand was at 11.2400 to the dollar at 0622 GMT, up 0.3 percent from Monday's New York close. It weakened to a fresh five-year low of 11.39 last week, dragged down by ...
South Africa's rand under pressure from emerging markets sentiment JOHANNESBURG: South Africa's rand was slightly weaker against the dollar on Monday and will probably remain under pressure from continuing nervousness about emerging markets. The rand was at 11.1900 to the dollar at 0635 GMT, down marginally from Friday's New York close. The currency has made a tentative recovery from a new five-year low of 11.3900 hit last week as investors dumped emerging market assets. The South African Reserve Bank's decision to increase its repo ...
South Africa's rand begins to recover after volatile week JOHANNESBURG: South Africa's rand was slightly weaker against the dollar on Friday but showed signs of steadying after a volatile week in which it hit a new five-year low. The rand was at 11.2600 to the dollar at 1449 GMT, down 0.5 percent from Thursday's New York close, though it firmed slightly earlier in the session after data showed South Africa recorded a wider 2.78 billion rand ($249 million) trade surplus in December from 770 ...
Nigeria forex reserves fall 1.1pc m/m to $43.12bn LAGOS: Nigeria's foreign exchange reserves declined 1.14 percent month-on-month to $43.12 billion by Jan. 29, and were six percent lower than the same time a year ago, central bank data showed on Friday. The foreign exchange reserves of Africa's top crude exporter stood at $43.62 billion a month earlier. The central bank's data on its website showed reserves stood at 45.85 billion on Jan. 29, a year ago. Copyright Reuters, 2014 ...


Index Closing Chg%
Arrow DJIA 16,424.85 1.00
Arrow Nasdaq 4,086.23 1.29
Arrow S&P 1,862.31 1.05
Arrow FTSE 6,584.17 0.65
Arrow DAX 9,317.82 1.57
Arrow CAC-40 4,405.66 1.39
Arrow Nikkei 14,417.68 3.01
Arrow H.Seng 22,696.01 0.11
Arrow Sensex 22,277.23 0.92

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