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Egyptian pound steady on official market, stronger on black market CAIRO: Egypt's central bank kept the pound's exchange rate steady at 7.53 to the dollar at a foreign exchange auction on Sunday, and the currency was slightly stronger on the black market.The central bank has held the official exchange rate steady for four months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading.In Sunday's auction the bank said it had offered and sold $40 million at a cut-off price of 7.5301 pounds per dollar , unchanged from Thursday's rate.The pound was trading at 7.67 pounds to the dollar, one trader said, slightly stronger from Thursday's rate.Another trader said it was also trading at 7.68 pounds like Thursday.Auctions take place on Sunday, Tuesday and Thursday every week.Black market traders say volumes have fallen sharply since the central bank's drive to stamp out their transactions, which, since February, has included ...

South Africa's rand pauses ahead of Greece talks JOHANNESBURG: South Africa's rand was largely unchanged against the dollar on Friday as a brief rally on hopes of a delayed US interest rate hike fizzled out and investors awaited the latest on Greece's debt crisis.At 0702 GMT the rand was trading 0.03 percent stronger at 12.2390 to the dollar compared with its New York closing level on Thursday.The rand gained 0.6 percent on Thursday as signals that the US Federal Reserve will not raise ...
South Africa JOHANNESBURG: South Africa's rand slipped against a firm dollar on Wednesday as headline inflation rose to a 2015 peak in May, opening the door for further losses ahead of a U.S. Federal Reserve meeting.At 1400 GMT the rand had weakened 0.55 percent to 12.4350 per dollar, closing in on the 12.50 technical point that could be breached as markets search the Fed's statement later in the session for clues on the timing of a rate ...
Kenyan shilling weakens on energy demand, stocks rise NAIROBI: Kenya's shilling closed a touch weaker on Tuesday after a late flurry of dollar demand from the energy sector, while stock rose.At market close of 1300 GMT, commercial banks quoted the shilling at 97.25/45 to the dollar, compared with Monday's close of 97.25/35. In afterhours trading the shilling weakened further, to 97.40/60."In the last hour or so we have seen quite a bit of demand from the energy sector," a trader at one Nairobi-based ...
South Africa's rand weakens; focus on Greece, Fed JOHANNESBURG: South Africa's rand weakened against the dollar early on Monday as demand for riskier assets waned after the latest talks aimed at ending Greece's debt crisis ended without a resolution.At 0615 GMT the rand was trading 0.46 percent weaker at 12.4350 to the dollar compared with its New York closing level on Friday."The rand is at risk of renewed weakness this week given the fears over Greece and caution in front of the (US ...
Egyptian pound steady at official auction, weaker on black market CAIRO: Egypt's central bank kept the pound's exchange rate steady at 7.53 to the U.S. dollar at a foreign exchange auction on Sunday, with black market rates slightly weaker.The central bank has held the official exchange rate unchanged for four months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading.In Sunday's auction the bank said it had offered $40 million and sold $37.8 ...
South Africa's rand steady ahead of S&P rating update JOHANNESBURG: South Africa's rand steadied against the US dollar early on Friday as investors held positions ahead of a Standard & Poor's credit rating update on Africa's most advanced economy later in the session.At 0607 GMT the rand was trading at 12.3775 to the dollar, not far off its Thursday New York closing level of 12.3550."The headline event today is S&P's rating review decision. We think it is extremely unlikely that they will change the ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln