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Nigerian naira weakens 2.3pc against dollar on black market LAGOS: The Nigerian naira weakened against the dollar on Monday on the parallel market after a boost in liquidity and a surge in demand for dollars, traders said. The naira was trading at 218 to the dollar in the bureau de change market, 2.34 percent weaker than the 213 it closed at on Friday. "There is an upsurge in demand for the dollar due to increase in liquidity in the system, with some buyers wiling to pick up dollars at any available rate," Aminu Gwadabe, president of Bureau de change operators said. The naira hovered between 208-210 to the dollar last week after the central bank increased dollar sales to bureau de change operators in a bid to narrow the margin between parallel and interbank market rates. Another dealer said a number of people are buying up dollars to pay school fees and other commitments abroad, fuelling a surge in ...

Kenyan shilling holds steady, liquidity pressure expected NAIROBI: The Kenyan shilling was steady against the dollar on Monday but expected to come under pressure from strong liquidity in the money markets. At 0725 GMT commercial banks quoted the shilling at 103.80/104.00 to the dollar, barely changed from Friday's close of 103.80/90. "In the money market there is quite a bit of liquidity and we still keep getting customers who are interested in buying (dollars). I don't see why the shilling would gain," ...
Kenyan shilling holds steady, liquidity pressure expected NAIROBI: The Kenyan shilling was steady against the dollar on Monday but expected to come under pressure from strong liquidity in the money markets.At 0725 GMT commercial banks quoted the shilling at 103.80/104.00 to the dollar, barely changed from Friday's close of 103.80/90."In the money market there is quite a bit of liquidity and we still keep getting customers who are interested in buying (dollars). I don't see why the shilling would gain," one Nairobi-based ...
Ugandan shilling weakens due to increased liquidity KAMPALA: The Ugandan shilling weakened on Friday, due to increased dollar demand from commercial banks after the central bank injected liquidity into the money markets. At 0854 GMT commercial banks quoted the shilling at the shilling at 3,630/3,650, weaker than Thursday's close of 3600/3610. The central Bank of Uganda (BOU) injected 134 billion shillings ($36.91 million) into the interbank market using reverse repurchase agreements on Friday. A lack of liquidity had pushed rates on overnight ...
South Africa's rand gains for a third day as markets recover JOHANNESBURG: South Africa's rand firmed to the dollar for a third straight session on Thursday as calm returned to global financial markets after U.S. economic data and a surge in Chinese equities increased appetite for risk.At 1549 GMT the rand was up 0.17 percent at 13.1100 per dollar compared with Wednesday's close, extending its recovery after tumbling to an all-time low of 14.00 at the start of the week."Global market sentiment is dictating the rand ...
Uganda shilling weaker on current account deficit worries KAMPALA: The Ugandan shilling was weaker on Wednesday as traders brushed off intervention by the central bank the previous session and focused on a widening current account deficit. At 0922 GMT, commercial banks quoted the shilling at 3,580/3,610 to the US dollar, compared with Tuesday's close of 3,570/3,580. Bank of Africa trader Ahmed Kalule said the central bank's action would provide only a temporary brake on the currency's devaluation. "In the market, the current account ...
Egyptian pound steady at official auction, weaker at exchange bureaus CAIRO: Egypt's central bank kept the pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday, and the currency was slightly weaker at exchange bureaus. The central bank said it had offered $40 million and sold $37.8 million at a cut-off price of 7.7301 pounds per dollar , unchanged from the rate at the last auction on Sunday. The central bank kept the pound at 7.5301 for five months until last month, ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln