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Middle East & Africa


Egyptian pound steady in official auction, weaker on black market CAIRO: Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Sunday while a trader said the currency weakened on the black market. The central bank has now kept the official exchange rate steady for nearly three weeks after letting the pound weaken in an effort to wipe out black market trading. It typically holds auctions every Sunday, Monday, Wednesday and Thursday. Analysts say the central bank may have decided to stabilise the currency to stop it from depreciating too much and because it hopes other recent measures will have an impact.The government is trying to bolster the economy and burnish Egypt's image ahead of a major investment conference next month. The central bank said it offered $40 million on Thursday and sold $38.4 million at a cut-off price of 7.5301 pounds per dollar, the same level as at the last sale ...

South Africa's rand steady, market looks to budget for steer JOHANNESBURG: South Africa's rand was slightly firmer against the dollar on Friday, with traders and analysts expecting it to track global markets ahead of next week's domestic fourth quarter GDP data and budget review.At 1542 GMT, the rand traded at 11.6535 versus the greenback, edging up 0.17 percent from Thursday's New York close at 11.6735. It also had the upper hand over the euro at 13.2098, after ending the previous session at 13.2681.The rand was ...
South Africa's rand eases slightly, govt bonds hold firm JOHANNESBURG: South Africa's rand retreated slightly against the dollar on Thursday as better-than-expected U.S. jobs data offset the boost from the previous day's dovish Federal Reserve statement.Local government bonds, however, held their ground, with some investors betting that interest rates in the world's biggest economy might stay near zero for longer, maintaining the appeal of high-yielding emerging market assets.At 1620 GMT the rand was 0.17 percent softer at 11.6300 to the dollar compared with Wednesday's ...
Egyptian pound steady at both official and black market exchange rates CAIRO: Egypt's central bank kept the pound EGP steady at 7.53 to the dollar at a foreign exchange auction on Wednesday and the currency was also stable on the black market, traders said. The central bank has now kept the official exchange rate steady for the past two weeks after letting the pound weaken since Jan. 18 in an effort to wipe out black market trading.It typically holds auctions every Sunday, Monday, Wednesday and Thursday. ...
Kenyan shilling firms on inflows, stocks in seven-day winning streak NAIROBI: The Kenyan shilling rose against the dollar on Tuesday on the back of hard currency inflows from investors abroad seeking high yields from local Treasury bonds.Stocks gained ground for the seventh-straight session with the all share index closing at a new record high.The shilling closed at 91.30/50 per dollar, up from Monday's close of 91.50/60."(It strengthened) on the back of inflows attributed to investors chasing yields with the bonds that are coming up," said ...
South Africa's rand regains momentum ahead of inflation data JOHANNESBURG: South Africa's rand firmed to its strongest level in seven days on Tuesday as the dollar slipped and hopes of a compromise preventing Greece's exit from the eurozone were dashed.By 1400 GMT the rand had gained 0.52 to 11.6075 per dollar, the local unit gaining momentum after sluggish trade in the wake of lowered liquidity after a U.S. holiday on Monday."We're generally seeing dollar weakness across the board, so I'd put the rand's gains ...
Ugandan shilling eases on dollar demand from energy sector KAMPALA: The Ugandan shilling was slightly weaker on Tuesday due to dollar demand from energy and manufacturing sectors but traders said a debt auction could attract hard currency inflows and reverse the losses. At 1109 GMT commercial banks quoted the shilling at 2860/2870, slightly weaker than Monday's close of 2,858/2,868. "Some demand pressure was exerted by energy and manufacturing sector players," said Faisal Bukenya, head of market making at Barclays Bank. "Since we have an ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln