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Middle East & Africa


South Africa's rand holds its own despite global tensions, local strike JOHANNESBURG: South Africa's rand traded virtually unchanged against the dollar on Tuesday, with market watchers expecting the currency to stay in narrow ranges given a lack of significant news to steer it.The rand has been resilient despite general global risk aversion spawned by political tensions in Ukraine and the Middle East, coupled with a domestic wage strike by metals and engineering workers now entering its fourth week.At 0647 GMT the currency traded at 10.6125 versus the greenback, just 0.09 percent off its previous close and within easy reach of Monday's three week high of 10.5975.Analysts said global markets were mainly focussed on U.S. consumer inflation data on Tuesday which could give pointers on when the Federal Reserve will start raising rates."The bigger worry for the rand remains an about-turn from the Fed on inflation risks and resultant re-pricing in the Treasury market which would negatively impact on capital flows towards ...

Kenyan shilling steady, seen in tight range NAIROBI: The Kenyan shilling was treading water against the dollar on Tuesday and looked likely to stay in a tight range in coming days as the market expects the central bank would step in to keep it from appreciating, traders said.At 0715 GMT, commercial banks quoted the shilling at 87.75/85 to the dollar, unchanged from Monday's close."It's going to be range bound for now," said Andlip Nazir, senior trader at I&M Bank.Traders forecast a range ...
Kenyan shilling steady, seen gaining NAIROBI: The Kenyan shilling was steady on Monday but traders said it could firm in coming days on dollar inflows from foreign investors bidding for a Treasury bond later this week.At 0744 GMT, commercial banks quoted the shilling at 87.70/90 to the dollar, compared with Friday's close of 87.75/85."It's likely there could be some dollar inflows into the market," said Nahashon Mungai, trader at KCB Bank Group, in reference to the two-year bond reopening.The central ...
Egyptian pound steady at central bank sale and on black market CAIRO: The Egyptian pound remained stable at a central bank dollar sale on Monday and on the black market.The central bank said it sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Thursday.The rate for the dollar sales has stayed within a very tight range since the beginning of June, after it had allowed the pound to weaken in May. It had offered $40 million on ...
South Africa's rand holds onto post rate-hike gains JOHANNESBURG: South Africa's rand held steady against the dollar on Monday, starting the week with a firmer tone after the central bank raised interest rates late last week and global risk aversion abated. At 0647 GMT, the rand traded at 10.6250 to the dollar, at its strongest since the start of the month, and compared with a 10.6420 close in New York on Friday. Global markets were calm on Monday after risk appetite was sapped ...
South Africa's rand, bonds firmer in post-MPC glow JOHANNESBURG: South Africa's rand recovered its footing against the dollar on Friday, shaking off the previous day's late bout of risk aversion triggered by the downing of a Malaysian plane in Ukraine.Investors were still applauding the South African Reserve Bank's 25 basis point hiking of interest rates on Thursday to stem inflation pressures, a move seen boosting the rand's yield appeal. The local unit was up 0.93 percent 10.6595 to the greenback by 1521 GMT, ...
Kenyan shilling eases slightly, seen under pressure NAIROBI: The Kenyan shilling eased slightly on Thursday because of interbank demand for dollars, and traders said it was expected to remain under pressure in the days ahead as the supply of shillings built up.At 0715 GMT, commercial banks quoted the shilling at 87.70/80 to the dollar, compared with Wednesday's close of 87.65/75."We have seen some interbank (dollar) buying," said a senior trader at one commercial bank.Traders said the shilling was expected to come under ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln