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South Africa's rand edges off 14-year low, China risks loom JOHANNESBURG: South Africa's rand recovered slightly early on Tuesday after touching a fresh 14-year in the previous session as emerging markets wobble on concerns over China's economy.At 0630 GMT the rand edged 0.18 percent firmer to 12.5945 per dollar, recovering from a low of 12.69 on Monday when the unit failed to breach the key 12.70 technical support."Worth noting that the last time the rand traded at these levels, the ensuing correction saw us revisit 12.0550 before the bull trend resumed," said Oliver Alwar of Standard Bank.Chinese equity markets plunged by their most in 8 years on Monday, threatening to drag emerging markets with them as appetite for riskier assets suffered, a day ahead of a US Federal Reserve monetary policy announcement.Bets that the US central bank will lift rates in September have seen the greenback rally, and in early trade the dollar index had ticked 0.15 percent firmer.The rand ...

South Africa's rand wobbly ahead of trade data JOHANNESBURG: South Africa's rand struggled against the dollar on Monday, with traders and analysts seeing scope for further weakness if local trade data comes out softer than expected and the Federal Reserve issues a hawkish statement later this week. The rand touched a fresh 14-year low of 12.6900 to the dollar, extending Friday's sharp losses, and traded at 12.6235 at 1604 GMT, slightly weaker than its previous close at 12.6165. Government bonds also ended the ...
South Africa's rand sinks to 14-year low as China worries weigh JOHANNESBURG: South Africa's rand sunk close to its weakest in a decade and a half on Friday as emerging markets suffered when more worrying signs of China's economic slowdown rattled sentiment toward riskier assets. The rand slid more than 1.5 percent to 12.6800 at 1316 GMT , its weakest against the dollar since December 2001. A preliminary survey of thousands of Chinese companies showed the Asian behemoth's factory sector contracting at the fastest pace in ...
Kenyan shilling eases, main share index near 2-1/2 year low NAIROBI: The Kenyan shilling eased on Friday, while stocks fell to a two-year and five-month low as both markets closed early due to the visit of US President Barack Obama.At close of trade at 1000 GMT, commercial banks quoted the shilling at 101.15/25 to the dollar versus Thursday's close of 100.75/85 as banks covered their short dollar positions."It's a thin market, so people wanted to square off their positions because the forex market is closing ...
South Africa's rand weakens after below forecast inflation data JOHANNESBURG: South Africa's rand weakened against the dollar on Wednesday ahead of Thursday's interest rate decision after a lower-than-expected inflation number reduced the odds of a rate hike.At 1433 GMT, the rand was trading 0.59 percent weaker at 12.3990 to the dollar compared with its closing level on Tuesday. "The downside surprise to CPI generated some selling pressure given that the market interpreted it as an indication that the (central bank) is going to refrain ...
Kenya's shilling firms, stocks fall for 10th straight session NAIROBI: The Kenyan shilling gained ground on Tuesday after tight local currency liquidity forced commercial banks to sell dollars, while stocks fell for a tenth straight session.At close of trade, commercial banks quoted the shilling at 101.30/50 to the dollar, from Monday's close of 102.50/60.Tight liquidity makes it expensive to hold dollars, which gives the shilling a boost."The market was a bit overbought and people have been squaring off positions," a senior trader at a ...
South Africa's rand firms as commodity prices recover JOHANNESBURG: South Africa's rand strengthened against the dollar on Tuesday supported by a recovery in commodity prices and as the greenback paused its recent rally against a basket of currencies. At 1435 GMT, the rand was trading 0.59 percent firmer at 12.3615 to the dollar compared with its closing level on Monday. The dollar was down 0.52 percent against a basket of major currencies. "The dollar is weaker and we have seen commodities lifting a ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln