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Kenyan shilling weakens, shares fall as Kenya Airways dips NAIROBI: The Kenyan shilling weakened on Monday after banks bought dollars to cover short positions, traders said.At the close of trade, commercial banks quoted the shilling at 88.20/88.30 to the dollar, from 88.05/88.15 on Friday.The shilling has been supported by tighter conditions on the interbank market, where the weighted average lending rate rose to 11.9492 percent on Friday from about 7.5 percent in mid-July.Sheikh Mehran, head of trading at I&M Bank, said there was little dollar buying by companies and most of the trade was by banks."I have not sighted any corporate demand for dollars, they stayed away at these levels, but there are banks buying. This is short-covering most likely," Mehran said.Some traders said the government has delayed the release of funds to departments and local authorities, causing a tightening of the money market.Mercy Mbature, a trader at National Bank, said some of the buying could be position-taking by ...

South African rand steady versus the dollar, bond yields mixed JOHANNESBURG: The rand held steady against the dollar on Monday ahead of major economic data releases locally and abroad, with the market keeping a keen eye on South African and U.S. consumer inflation numbers later in the week.The local unit edged 0.01 percent firmer, to 10.5900 versus the greenback by 0642 GMT, just shy of the 10.6000 mark."The local unit held around a 100-day moving average of R10.56 against the dollar, after advancing about R0.30 ...
Egyptian pound steady on official and black markets CAIRO: The Egyptian pound remained stable at a central bank dollar sale and on the black market on Monday.The central bank said it sold $39.6 million at a cut-off price of 7.1401 pounds per dollar.The rate for the dollar sales has stayed in a very tight range since the beginning of June, after the bank allowed the pound to weaken in May. It had offered $40 million on Thursday.On the black market, the dollar changed ...
Kenyan shilling flat, seen vulnerable NAIROBI: The Kenyan shilling was steady on Monday but was seen vulnerable if the tight money market conditions ease up, traders said. At 0705 GMT, commercial banks quoted the shilling at 88.05/88.15 to the dollar, unchanged from its closing level on Friday. The shilling has been supported by tighter conditions on the interbank market, where the weighted average lending rate rose to 11.9492 percent on Friday from about 7.5 percent in mid-July. Commercial Bank of ...
South African rand steady versus the dollar, bond yields mixed JOHANNESBURG: The rand held steady against the dollar on Monday ahead of major economic data releases locally and abroad, with the market keeping a keen eye on South African and US consumer inflation numbers later in the week. The local unit edged 0.01 percent firmer, to 10.5900 versus the greenback by 0642 GMT, just shy of the 10.6000 mark. "The local unit held around a 100-day moving average of R10.56 against the dollar, after advancing ...
South Africa's rand steady, pauses near 10.50 resistance JOHANNESBURG: South Africa's rand held steady against the dollar early on Friday, pausing in its recent march towards the key 10.5000 resistance level. At 0610 GMT, the unit was trading at 10.5420 to the dollar, slightly firmer from its close in New York on Thursday. The rand, which has notched up five days of daily gains against the dollar, received a boost from a rise in US jobless claims the previous session, climbing to its ...
Kenyan shilling steady on tight liquidity, stocks inch up NAIROBI: The Kenyan shilling was little changed on Thursday after a slowdown in dollar demand from companies put off by tight liquidity, while stocks nudged higher. At the 1300 GMT market close, commercial banks quoted the shilling at 88.05/88.15 to the dollar, barely changed from its closing level of 88.00/88.10 on Wednesday. "Tight liquidity has kept position-taking at bay," said Sheikh Mehran, head of trading at I&M Bank. "Today has been a very flat day ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln