‘Risk-off’ wave weakens Rand; Rising imports weaken Kenyan Shilling

‘Risk-off’ wave weakens Rand The Rand came under pressure this week amid a wave of ‘risk-off’ sentiment, with global coronavirus cases continuing to rise and tensions between the US and China increasing as Trump banned TikTok and WeChat. South Africa’s manufacturing output fell 16.3% year on year in June, after shrinking by 32.4% in May. […]

Naira activity subdued post-Eid; Importer obligations weigh on Kenyan shilling

Naira activity subdued post-Eid With minimal activity after the two-day Eid holiday, the Naira appreciated slightly to 473 per dollar in the parallel market at the beginning of the week before slipping back to 474. A shortage of dollars persists given recent weeks of lower revenue from oil, Nigeria’s biggest foreign exchange earner. Demand has […]