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Middle East & Africa


Kenyan shilling dips, stocks close higher NAIROBI: The Kenyan shilling weakened on Tuesday, pressured by demand for dollars from importers amid scant hard currency inflows.At close of trade at 1300 GMT, commercial banks quoted the shilling at 89.00/10 to the dollar, compared with Monday's close of 88.90/89.00.Late in the session, the shilling touched 89.05/25, its weakest since mid-December 2011 when it hit 89.10/20, according to Thomson Reuters data.Traders said there was little dollar inflow from the tea and tourism sectors, which are leading foreign exchange earners, to meet increased demand from importers."I think it is just adjusting slowly upwards. It seems there's some (dollar) demand," John Muli, trader at African Banking Corporation, said.The market was also awash with the local currency due to renewed government spending and maturing bonds, traders said.During the session, the central bank mopped up 3.4 billion shillings from the money market using repurchase agreements. It had sought to absorb 10 billion shillings ...

Ugandan shilling stable, market eyes Treasury bill auction KAMPALA: The Ugandan shilling was unchanged on Tuesday and traders said they were watching a Treasury bill auction for possible inflows that could offer support to the local currency.At 1042 GMT commercial banks quoted the shilling at 2,605/2,615 to the dollar, unchanged from Monday's close."Our eyes are on what happens tomorrow at the auction," Ali Abbas, a trader at Crane Bank, said."Maybe if rates climb up it could produce a favourable sentiment for the shilling ...
Kenyan shilling steady, seen weaker on pent-up dollar demand NAIROBI: The Kenyan shilling was flat on Tuesday but was expected to weaken due to expected demand from importers for dollars amid scant hard currency inflows.At 0830 GMT, commercial banks quoted the shilling unchanged at 88.90/89.00 to the dollar.The currency of East Africa's biggest economy on Monday slipped briefly to a 32-month low of 88.95/89.05, Reuters data showed.Traders said there was little inflow of dollars from the tea and tourism sectors, which are leading foreign ...
Egyptian pound steady on official market, down on black market CAIRO: Egypt's pound held steady at a central bank dollar sale on Monday, with the bank saying it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from Thursday's rate.In the unofficial market, the pound was trading at 7.38 to the dollar, slightly weaker than Thursday's rate of 7.35, one trader said.The rate for dollar sales has stayed in a tight range since the beginning of June, after the bank allowed ...
Kenyan shilling hits 32-month low NAIROBI: The Kenyan shilling touched a 32-month low on Monday, under pressure from dollar buying by importers and lower hard currency inflows.At the close of trade, commercial banks quoted the shilling at 88.90/89.00 to the dollar, compared with Friday's close of 88.80/88.90. The shilling had fallen to an intra-day low of 88.95/89.05 last seen in January 2012, Reuters data showed."The shilling lost on intensified dollar buying by mostly telecommunications and manufacturing firms, and attempted to ...
Ugandan shilling stable with demand for dollars weak KAMPALA: The Ugandan shilling was unchanged on Monday amid weak demand and a withdrawal of excess liquidity by the central bank, and traders said it was likely to remain in a stable range this week.At 1003 GMT, commercial banks quoted the shilling at 2,605/2,615, unchanged from Friday's close.Faisal Bukenya, head of market making at Barclays Bank, said demand for dollars was limited."There's a lot of liquidity, but since we've had a mop-up I expect the ...
South Africa's rand under pressure ahead of CPI, rate call JOHANNESBURG: South Africa's rand extended recent losses to a fresh seven month low against the dollar on Monday, and was expected to remain under pressure ahead of inflation data and the central bank's rate decision later in the week. The rand has weakened more than 2 percent over the past week, reflecting a stronger dollar as investors bet on the US Federal Reserve tightening policy sooner than earlier expected. The rand hit a trough of ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln