Middle East & Africa
Monday, 29 April 2013 21:14
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LAGOS: Nigeria's naira currency firmed to its highest in more than two weeks against the U.S dollar on the interbank market on Monday, supported by dollar sales by two energy companies, traders said. The naira closed at 157.95 to the dollar on the interbank market, a level last seen on April 12. It had closed at 158.70 to the dollar on Friday. Dealers said a unit of ExxonMobil sold about $62.7 million, while Royal Dutch shell sold an undisclosed amount to some lenders, boosting dollar liquidity. The local currency had fallen to 159.02 last Thursday, its lowest in more than eight months against the dollar, on the back of strong demand by fuel importers and foreign investors repatriating their dividends back home. On the official window on Monday, the central bank sold $300 million at 155.75 to the dollar, compared with $272.25 million sold at the same rate at the ...
NAIROBI: The Kenyan shilling was steady on Thursday, with traders expecting it to strengthen because of foreign investors selling dollars to pay for Treasury bonds auctioned in the previous session.At 0822 GMT, commercial banks quoted the shilling at 83.65/85 against the dollar, the same level it closed at on Wednesday."Demand (for dollars) is muted for now, but we expect to see offshore investors coming in to sell dollars today and tomorrow before the payments fall ...
KAMPALA: The Ugandan shilling weakened against the dollar on Wednesday, hurt by thin dollar inflows, and traders said the local currency will come under more pressure if the government raises taxes to plug a huge budget deficit.
At 0953 GMT commercial banks in Kampala quoted the currency of east Africa's third-largest economy at 2,575/2,585, compared with Tuesday's close of 2570/2580.
Bank of Uganda (BoU) was on Wednesday due to release results of a Treasury bond auction worth ...
JOHANNESBURG: South Africa's rand came under pressure against the dollar on Monday as the prospect of blackouts this winter revived fears about the country's economic growth prospects.The rand was at 9.2664 to the dollar at 1518 GMT, 0.5 percent weaker than Friday's close.Eskom, the utility which provides 95 percent of the power to Africa's biggest economy, said on Monday that it was prepared to introduce rolling blackouts this winter in some parts of the grid ...
JOHANNESBURG: South Africa's rand pulled back slightly from overnight lows against the dollar but could resume a downward slide on Tuesday as investors remained cautious of taking risks in the aftermath of weak Chinese economic data.The rand was at 9.1465 to the greenback by 0636 GMT, a 0.96 percent gain from Monday's close at 9.2350.The local currency slumped to a 1-1/2 week low of 9.2550 against the dollar on Monday, in line with a sharp ...
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