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Kenyan shilling steady, seen weaker on scant dollar supply NAIROBI: The Kenyan shilling was little changed against the dollar on Thursday and traders said they expected it to trade with a weakening bias in coming days due to scant dollar supply.Traders said the shilling was unlikely to be moved by the central bank's decision on Wednesday to hold its benchmark lending rate at 8.50 percent, in line with what traders had earlier expected. The rate has remained unchanged since May 2013.At 0730 GMT, commercial banks quoted the shilling at 88.65/75, compared with Wednesday's close of 88.70/80."It's a bit stable now, but so far low (dollar) supply is hurting the shilling," said Julius Kiriinya, trader at African Banking Corporation.The shilling has come under pressure due to falling dollar inflows from the tourism sector.Kenya's tourism business, a top foreign exchange earner, slid into crisis this year because of frequent deadly attacks blamed on Islamists from neighbouring Somalia.Tea dollar earnings have also ...

South Africa's rand stronger, ECB to provide direction JOHANNESBURG: Improved business confidence helped South Africa's rand strengthen against the US dollar on Thursday, while comments from the European Central Bank (ECB) should provide direction later. The local unit edged towards the firmer end of a recent range, strengthening by 0.13 percent to 10.6750 per dollar by 0627 GMT. Business sentiment in South Africa recovered from a 15-year low in August, according to two surveys released in the previous session, giving the rand a ...
Rand regains ground on global headlines JOHANNESBURG: South Africa's rand climbed off the previous day's three-week lows against the dollar on Wednesday, helped by reviving global risk appetite and stronger local business surveys. A survey showing South Africa's HSBC Purchasing Managers' Index snapped out of a four-month contraction in August, after the end of a protracted strike among metals and engineering workers, boosted market sentiment. Another report, pointing to a recovery in business sentiment in South Africa from July's 15-year low, ...
Ugandan shilling weakens on importers' need for dollars KAMPALA: The Ugandan shilling lost ground against the dollar on Wednesday, as importers bought the U.S. currency, but traders said the shilling could recoup losses if debt yields rise at auction later in the day.At 1118 GMT commercial banks quoted the shilling against the dollar at 2,605/2,615, weaker than Tuesday's close of 2,600/2,610."Healthy demand has been coming in and pushing the shilling (multiple) higher," said Centenary Bank Trader Sage Daniel Muganza, citing dollar demand from ...
Kenyan shilling weakens, stocks up slightly NAIROBI: The Kenyan shilling weakened on Wednesday as banks squared positions ahead of an interest rate decision, while stocks closed a fraction higher.At close of trade at 1300 GMT, commercial banks quoted the shilling at 88.70/80 to the dollar, compared with Tuesday's close of 88.60/70.At its meeting on Wednesday, the central bank held its benchmark lending rate at 8.50 percent, in line with what traders had earlier expected.The decision was announced after markets had closed.Kenya's ...
Kenyan shilling weakens, central bank intervention eyed NAIROBI: The Kenyan shilling weakened on Wednesday as banks squared positions ahead of an interest rate decision, with some traders anticipating the central bank might sell dollars to support the local currency.At 0745 GMT, commercial banks quoted the shilling at 88.70/80 to the dollar, compared with Tuesday's close of 88.60/70.Kenya's inflation rate in August rose to its highest level since June 2012, making it more likely the central bank will lift interest rates in coming ...
Egyptian pound steady on official, black markets CAIRO: Egypt's pound held steady at a central bank dollar sale on Wednesday, with the bank saying it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Monday's rate.In the unofficial market, the pound was also steady, trading at 7.38 to the dollar, one trader said.The rate for dollar sales has stayed in a very tight range since the beginning of June, after the bank allowed the pound to weaken ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln