Tag Archives: Nigeria

Africa 8 and 3 Cities to Watch

Two recent stories caught my attention for their deeper analysis of African economic growth:

A post in LinkedIn’s African Financial Professionals group links to an article about the Africa 8. The Africa 8 are 8 countries highlighted in a study by Ecobank, a pan African bank based in Togo. Ecobank predicts Angola, Republic of the Congo, Cote d’Ivoire, Ghana, Kenya, Mozambique, Nigeria, and Rwanda to be the drivers of growth on the the continent. Ghana, Nigeria and Kenya are known to be attractive due to their political stability (Ghana), size (Nigeria) and tech driven dynamism (Kenya). Cote d’Ivoire has put its civil conflict in the past and in some ways is like a francophone version of Ghana. Congo and Angola are all about oil. Mozambique shows high rates of growth but one wonders if its influence is felt beyond its borders.

The question for all these countries is whether they will evolve into more than just natural resource plays which are vulnerable to market swings and technological and social trends such as the global imperative to move away from fossil fuels. Many of these economies are also carrying large amounts of public debt which could become a problem if US interest rates rise or commodity prices fall.

The second story identifies three African cities that are at the beginning of their growth curve: 1) Abidjan, Cote d’Ivoire, 2) Dakar, Senegal, 3) Ouagadougou, Burkina Faso. http://www.emia.org/news/story/978 This is another way of acknowledging the growth prospects of the countries for which these are the major cities.

In addition to Cote d’Ivoire’s positive outlook, Abidjan is considered one of the most attractive cities in West Africa and is an important center for meetings, tourism and commerce. Dakar, the capital of Senegal is a port at the westernmost location on the African continent, giving it easy access to Europe, North and South America. If West Africa is serious about regional integration then Dakar will become even more attractive as a gateway city. Ouagadougou stands out in this group in that although it is a national capital it is not one of the region’s most important cities. It is included largely because of growth in Burkina Faso’s gold mines.

Investors and entrepreneurs considering entry into Africa should start by investigating the locations cited above. Each is brimming with opportunities and fraught with challenges—all for different reasons. Knowledgeable advisors both at home and on the ground can help point the way.

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3 African Currencies – Outlook for Direct Investors

What follows is a brief analysis of the behavior of currencies in 3 important African economies.

GHANA CEDI
The persistent trade deficit that is the norm in Ghana seems to be increasing. That deficit contributes to price inflation and the two conditions combine to weaken the currency.
The Ghana Central Bank is fighting back by raising interest rates which are already high. The cedi is likely to remain weak until the general pattern of Ghanaian trade changes. One of the reasons for Ghana’s growing trade deficit is the increase in equipment imported to support oil production which has not yet reached the desired production levels. When oil production will grows to the point at which it reduces the need to import, and when Ghana develops additional sources of high value export earnings, then a lower trade deficit will become the norm.
Although investors should build currency weakness into their assessment of Ghanaian deals and projects, they should also build the ability to raise prices locally into financial forecasts, and consider Ghana as a possible export platform.

KENYA SHILLING
The shilling has fallen only about 1% in the last year and a half through March 2014. Since then it has stayed within a narrow range.
Kenya’s trade surplus is rising and so are international reserves. The Kenyan Central Bank has kept interest rates steady and treasury bills have fallen slightly. It seems a radical devaluation is not likely, though the shilling/dollar rate might move outside the 86-88 range where it has been for about the last 18 months.

NIGERIA NAIRA
Recent inflation has been falling on a quarter on quarter basis. Nigeria’s trade surplus increased during 2013. Interest rates held within a narrow band during 2013 and have fallen a bit in 2014. Naira has stayed between 155-165 for 2 years. While the naira could lose a little ground vs the dollar simply due to much lower US inflation, many investors consider it stable for investment purposes.

 

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Emerging Markets Exchange Rates & Interest Rates 14 March 2014

 

 

EXCHANGE RATES 3/7/2014 3/14/2014 %CHG
AMERICAS
 
ARGENTINA 7.8613 7.8945 -0.42%
BRAZIL 2.3407 2.3598 -0.81%
CHILE 565.3500 571.5900 -1.09%
COLUMBIA 2,038.3300 2,041.4800 -0.15%
COSTA RICA 559.6900 549.9650 1.77%
JAMAICA 108.2650 108.7450 -0.44%
MEXICO 13.1922 13.2290 -0.28%
PERU 2.8035 2.8040 -0.02%
TRINIDAD & TOBAGO 6.3820 6.3810 0.02%
VENEZUELA 6.2921 6.2921 0.00%
 
 
AFRICA
 
BOTSWANA 8.7873 8.8456 -0.66%
COTE D’IVOIRE (CFA) 473.2050 471.0640 0.45%
GHANA 2.5333 2.5520 -0.73%
KENYA 86.5500 86.5000 0.06%
NAMIBIA 10.7383 10.7215 0.16%
NIGERIA 164.6000 164.6500 -0.03%
SENEGAL (CFA) 473.2050 471.0640 0.45%
SOUTH AFRICA 10.7383 10.7215 0.16%
TANZANIA 1,633.0000 1,635.5000 -0.15%
UGANDA 2,515.0000 2,520.0000 -0.20%
ZAMBIA 5.9600 6.0500 -1.49%
ZAMBIA-Boz Bid 5.9401 6.0208 -1.34%
ZAMBIA-Boz Ask 5.9501 6.0308 -1.34%
ZIMBABWE 378.0000 378.0000 0.00%
 
INDIA 61.0950 61.1650 -0.11%
 
 
INTEREST RATES 3/7/2014 3/14/2014
 
UNITED STATES
3 month T-Bill 0.06% 0.05%
6 Month T-Bill 0.09% 0.08%
10 Year T-Bond 2.80% 2.65%
30 Yr Fixed Mortgage-Bankrate.com 4.45% 4.50%
30 Yr Fixed Mortgage-MBA 4.52%
 
 
AMERICAS
 
BRAZIL
SELIC Rate-Daily 10.65% 10.65%
 
MEXICO
3 Month T-Bill 3.29% 3.30%
6 Month T-Bill 3.45% 3.44%
1 Year T-Bill 3.64% 3.62%
 
PERU
Central Bank Reference Rate 4.00% 4.00%
 
AFRICA
 
GHANA
3 Month T-Bill 21.23% 22.89%
6 Month T-Bill 20.99% 21.11%
1 Year T-Bill 17.00% 20.00%
2 Year T-Bill 17.50% 20.00%
3 Year T-Bill
5 Year T-Bill
 
KENYA
3 Month T-Bill 9.12% 8.95%
6 Month T-Bill 10.35% 10.05%
1 Year T-Bond 10.61% 10.41%
4 Year T-Bond
 
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
 
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 12.25% 12.25%
182 Day Gov’t Security-PMO 14.31% 14.31%
364 Day Gov’t Security-PMO 15.61% 15.61%
 
SOUTH AFRICA
3 Month T-Bill 5.76% 5.75%
6 Month T-Bill 6.21% 6.21%
1 Year T-Bill 6.63% 6.50%
10.5% (2026) 8.44% 8.54%
13.5% (2015) 6.94% 7.01%
 
UGANDA
3 month T-Bill 9.76% 9.76%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 13.72% 13.72%
3 Year T-Bond 13.19% 13.19%
5 Year T-Bond 13.92% 13.92%
10 Year T-Bond 13.94% 13.94%
 
ZAMBIA
3 Month T-Bill 8.00% 8.00%
6 Month T-Bill 14.90% 15.00%
1 Year T-Bill 15.23% 15.45%
2 Year T-Bill 14.00% 14.00%
3 Year T-Bill 15.00% 15.00%
5 Year T-Bond 16.00% 16.00%
10 Year T-Bond 17.90% 17.90%
15 Year T-Bond 17.90% 17.90%
INDIA
3 Month T-Bill 9.19% 9.27%
6 Month T-Bill 9.10% 9.12%
1 Year T-Bill 9.03% 9.03%
Base Lending Rate 10.25% 10.25%
Policy Rate 9.00% 9.00%

 

 

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Emerging Markets Exchange Rates & Interest Rates – 7 March 2014

 

 

EXCHANGE RATES 2/28/2014 3/7/2014 %CHG
AMERICAS  
   
ARGENTINA 7.8725 7.8613 0.14%
BRAZIL 2.3360 2.3407 -0.20%
CHILE 557.9550 565.3500 -1.31%
COLUMBIA 2047.4500 2,038.3300 0.45%
COSTA RICA 546.0600 559.6900 -2.44%
JAMAICA 108.0050 108.2650 -0.24%
MEXICO 13.2443 13.1922 0.39%
PERU 2.7985 2.8035 -0.18%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
   
   
AFRICA  
   
BOTSWANA 8.8339 8.7873 0.53%
COTE D’IVOIRE (CFA) 474.9350 473.2050 0.37%
GHANA 2.5800 2.5333 1.84%
KENYA 86.4500 86.5500 -0.12%
NAMIBIA 10.7418 10.7383 0.03%
NIGERIA 164.9500 164.6000 0.21%
SENEGAL (CFA) 474.9350 473.2050 0.37%
SOUTH AFRICA 10.7418 10.7383 0.03%
TANZANIA 1625.0000 1,633.0000 -0.49%
UGANDA 2535.0000 2,515.0000 0.80%
ZAMBIA 5.8250 5.9600 -2.27%
ZAMBIA-Boz Bid 5.8012 5.9401 -2.34%
ZAMBIA-Boz Ask 5.8112 5.9501 -2.33%
ZIMBABWE 378.0000 378.0000 0.00%
   
INDIA 61.9800 61.0950 1.45%
 
 
INTEREST RATES 2/28/2014 3/7/2014
 
UNITED STATES
3 month T-Bill 0.05% 0.06%
6 Month T-Bill 0.08% 0.09%
10 Year T-Bond 2.56% 2.80%
30 Yr Fixed Mortgage-Bankrate.com 4.48% 4.45%
30 Yr Fixed Mortgage-MBA
 
 
AMERICAS
 
BRAZIL
SELIC Rate-Daily 10.65% 10.65%
 
MEXICO
3 Month T-Bill 3.30% 3.29%
6 Month T-Bill 3.49% 3.45%
1 Year T-Bill 3.66% 3.64%
 
PERU
Central Bank Reference Rate 4.00% 4.00%
 
AFRICA
 
GHANA
3 Month T-Bill 21.08% 21.23%
6 Month T-Bill 20.94% 20.99%
1 Year T-Bill 17.00% 17.00%
2 Year T-Bill 17.50% 17.50%
3 Year T-Bill
5 Year T-Bill
 
KENYA
3 Month T-Bill 9.15% 9.12%
6 Month T-Bill 10.36% 10.35%
1 Year T-Bond 10.67% 10.61%
4 Year T-Bond
 
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
 
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 12.26% 12.25%
182 Day Gov’t Security-PMO 14.06% 14.31%
364 Day Gov’t Security-PMO 15.20% 15.61%
 
SOUTH AFRICA
3 Month T-Bill 5.59% 5.76%
6 Month T-Bill 6.16% 6.21%
1 Year T-Bill 6.67% 6.63%
10.5% (2026) 8.56% 8.44%
13.5% (2015) 7.13% 6.94%
 
UGANDA
3 month T-Bill 9.56% 9.76%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 13.72% 13.72%
3 Year T-Bond 13.19% 13.19%
5 Year T-Bond 13.92% 13.92%
10 Year T-Bond 13.94% 13.94%
 
ZAMBIA
3 Month T-Bill 8.00% 8.00%
6 Month T-Bill 14.90% 14.90%
1 Year T-Bill 15.23% 15.23%
2 Year T-Bill 14.00% 14.00%
3 Year T-Bill 15.00% 15.00%
5 Year T-Bond 16.00% 16.00%
10 Year T-Bond 17.90% 17.90%
15 Year T-Bond 17.90% 17.90%
INDIA
3 Month T-Bill 9.15% 9.19%
6 Month T-Bill 9.10% 9.10%
1 Year T-Bill 9.00% 9.03%
Base Lending Rate 10.25% 10.25%
Policy Rate 9.00% 9.00%

 

 

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Emerging Markets Exchange Rates & Interest Rates 28 February 2014

 

 

EXCHANGE RATES 2/21/2014 2/28/2014 %CHG
AMERICAS    
     
ARGENTINA 7.8375 7.8725 -0.44%
BRAZIL 2.3556 2.3360 0.84%
CHILE 554.1400 557.9550 -0.68%
COLUMBIA 2,045.2300 2047.4500 -0.11%
COSTA RICA 529.8500 546.0600 -2.97%
JAMAICA 107.7600 108.0050 -0.23%
MEXICO 13.2690 13.2443 0.19%
PERU 2.8065 2.7985 0.29%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
   
   
AFRICA  
   
BOTSWANA 8.9928 8.8339 1.80%
COTE D’IVOIRE (CFA) 477.2330 474.9350 0.48%
GHANA 2.5200 2.5800 -2.33%
KENYA 86.2000 86.4500 -0.29%
NAMIBIA 10.9455 10.7418 1.90%
NIGERIA 165.0000 164.9500 0.03%
SENEGAL (CFA) 477.2330 474.9350 0.48%
SOUTH AFRICA 10.9455 10.7418 1.90%
TANZANIA 1,627.0000 1625.0000 0.12%
UGANDA 2,460.0000 2535.0000 -2.96%
ZAMBIA 5.7850 5.8250 -0.69%
ZAMBIA-Boz Bid 5.7742 5.8012 -0.47%
ZAMBIA-Boz Ask 5.7842 5.8112 -0.46%
ZIMBABWE 378.0000 378.0000 0.00%
   
INDIA 62.0750 61.9800 0.15%
 
 
INTEREST RATES 2/21/2014 2/28/2014
 
UNITED STATES
3 month T-Bill 0.05% 0.05%
6 Month T-Bill 0.08% 0.08%
10 Year T-Bond 2.73% 2.56%
30 Yr Fixed Mortgage-Bankrate.com 4.49% 4.48%
30 Yr Fixed Mortgage-MBA 4.53%
 
 
AMERICAS
 
BRAZIL
SELIC Rate-Daily 10.40% 10.65%
 
MEXICO
3 Month T-Bill 3.36% 3.30%
6 Month T-Bill 3.50% 3.49%
1 Year T-Bill 3.69% 3.66%
 
PERU
Central Bank Reference Rate 4.00% 4.00%
 
AFRICA
 
GHANA
3 Month T-Bill 20.79% 21.08%
6 Month T-Bill 20.27% 20.94%
1 Year T-Bill 17.00% 17.00%
2 Year T-Bill 17.50% 17.50%
3 Year T-Bill 23.00%
5 Year T-Bill
 
KENYA
3 Month T-Bill 9.15% 9.15%
6 Month T-Bill 10.36% 10.36%
1 Year T-Bond 10.67% 10.67%
4 Year T-Bond
 
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
 
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 12.10% 12.26%
182 Day Gov’t Security-PMO 13.01% 14.06%
364 Day Gov’t Security-PMO 14.07% 15.20%
 
SOUTH AFRICA
3 Month T-Bill 5.50% 5.59%
6 Month T-Bill 6.07% 6.16%
1 Year T-Bill 6.58% 6.67%
10.5% (2026) 8.65% 8.56%
13.5% (2015) 7.34% 7.13%
 
UGANDA
3 month T-Bill 9.27% 9.56%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 13.04% 13.72%
3 Year T-Bond 13.19% 13.19%
5 Year T-Bond 13.92% 13.92%
10 Year T-Bond 13.94% 13.94%
 
ZAMBIA
3 Month T-Bill 8.00% 8.00%
6 Month T-Bill 14.99% 14.90%
1 Year T-Bill 15.30% 15.23%
2 Year T-Bill 14.00% 14.00%
3 Year T-Bill 15.00% 15.00%
5 Year T-Bond 16.00% 16.00%
10 Year T-Bond 17.90% 17.90%
15 Year T-Bond 17.90% 17.90%
INDIA
3 Month T-Bill 9.11% 9.15%
6 Month T-Bill 9.08% 9.10%
1 Year T-Bill 9.00% 9.00%
Base Lending Rate 10.25% 10.25%
Policy Rate 9.00% 9.00%

 

 

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Emerging Markets Exchange Rates & Interest Rates 21 February 2014

 

 

EXCHANGE RATES 2/14/2014 2/21/2014 %CHG
AMERICAS  
   
ARGENTINA 7.7900 7.8375 -0.61%
BRAZIL 2.3875 2.3556 1.35%
CHILE 547.1050 554.1400 -1.27%
COLUMBIA 2022.4500 2,045.2300 -1.11%
COSTA RICA 524.2150 529.8500 -1.06%
JAMAICA 107.5600 107.7600 -0.19%
MEXICO 13.2538 13.2690 -0.11%
PERU 2.8155 2.8065 0.32%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
   
   
AFRICA  
   
BOTSWANA 8.9326 8.9928 -0.67%
COTE D’IVOIRE (CFA) 479.2910 477.2330 0.43%
GHANA 2.5500 2.5200 1.19%
KENYA 86.4000 86.2000 0.23%
NAMIBIA 10.8690 10.9455 -0.70%
NIGERIA 162.9300 165.0000 -1.25%
SENEGAL (CFA) 479.2910 477.2330 0.43%
SOUTH AFRICA 10.8690 10.9455 -0.70%
TANZANIA 1625.0000 1,627.0000 -0.12%
UGANDA 2465.0000 2,460.0000 0.20%
ZAMBIA 5.7300 5.7850 -0.95%
ZAMBIA-Boz Bid 5.6932 5.7742 -1.40%
ZAMBIA-Boz Ask 5.7032 5.7842 -1.40%
ZIMBABWE 378.0000 378.0000 0.00%
   
INDIA 62.0900 62.0750 0.02%
 
 
INTEREST RATES 2/14/2014 2/21/2014
 
UNITED STATES
3 month T-Bill 0.02% 0.05%
6 Month T-Bill 0.07% 0.08%
10 Year T-Bond 2.75% 2.73%
30 Yr Fixed Mortgage-Bankrate.com 4.48% 4.49%
30 Yr Fixed Mortgage-MBA 4.50%
 
 
AMERICAS
 
BRAZIL
SELIC Rate-Daily 10.40% 10.40%
 
MEXICO
3 Month T-Bill 3.40% 3.36%
6 Month T-Bill 3.51% 3.50%
1 Year T-Bill 3.71% 3.69%
 
PERU
Central Bank Reference Rate 4.00% 4.00%
 
AFRICA
 
GHANA
3 Month T-Bill 20.12% 20.79%
6 Month T-Bill 19.85% 20.27%
1 Year T-Bill 17.00% 17.00%
2 Year T-Bill 16.30% 17.50%
3 Year T-Bill 23.00%
5 Year T-Bill
 
KENYA
3 Month T-Bill 9.15% 9.15%
6 Month T-Bill 10.36% 10.36%
1 Year T-Bond 10.67% 10.67%
4 Year T-Bond
 
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
 
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 12.10% 12.10%
182 Day Gov’t Security-PMO 13.01% 13.01%
364 Day Gov’t Security-PMO 14.07% 14.07%
 
SOUTH AFRICA
3 Month T-Bill 5.54% 5.50%
6 Month T-Bill 6.06% 6.07%
1 Year T-Bill 6.54% 6.58%
10.5% (2026) 8.75% 8.65%
13.5% (2015) 7.16% 7.34%
 
UGANDA
3 month T-Bill 9.27% 9.27%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 13.04% 13.04%
3 Year T-Bond 13.19% 13.19%
5 Year T-Bond 13.92% 13.92%
10 Year T-Bond 13.94% 13.94%
 
ZAMBIA
3 Month T-Bill 8.00% 8.00%
6 Month T-Bill 14.99% 14.99%
1 Year T-Bill 15.30% 15.30%
2 Year T-Bill 14.00% 14.00%
3 Year T-Bill 15.50% 15.00%
5 Year T-Bond 16.50% 16.00%
10 Year T-Bond 18.15% 17.90%
15 Year T-Bond 18.00% 17.90%
INDIA
3 Month T-Bill 9.11% 9.11%
6 Month T-Bill 9.08% 9.08%
1 Year T-Bill 8.97% 9.00%
Base Lending Rate 10.25% 10.25%
Policy Rate 9.00% 9.00%

 

 

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Emerging Markets Exchange Rates & Interest Rates 14 February 2014

 

 

EXCHANGE RATES 2/7/2014 2/14/2014 %CHG
AMERICAS    
     
ARGENTINA 7.8555 7.7900 0.84%
BRAZIL 2.3908 2.3875 0.14%
CHILE 554.0350 547.1050 1.27%
COLUMBIA 2,050.2300 2022.4500 1.37%
COSTA RICA 525.8800 524.2150 0.32%
JAMAICA 107.3700 107.5600 -0.18%
MEXICO 13.3525 13.2538 0.74%
PERU 2.8215 2.8155 0.21%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
   
   
AFRICA  
   
BOTSWANA 8.9969 8.9326 0.72%
COTE D’IVOIRE (CFA) 481.6660 479.2910 0.50%
GHANA 2.4100 2.5500 -5.49%
KENYA 86.0000 86.4000 -0.46%
NAMIBIA 11.0790 10.8690 1.93%
NIGERIA 163.3700 162.9300 0.27%
SENEGAL (CFA) 481.6660 479.2910 0.50%
SOUTH AFRICA 11.0790 10.8690 1.93%
TANZANIA 1,621.0000 1625.0000 -0.25%
UGANDA 2,467.0000 2465.0000 0.08%
ZAMBIA 5.6100 5.7300 -2.09%
ZAMBIA-Boz Bid 5.5985 5.6932 -1.66%
ZAMBIA-Boz Ask 5.6085 5.7032 -1.66%
ZIMBABWE 378.0000 378.0000 0.00%
   
INDIA 62.3600 62.0900 0.43%
 
 
INTEREST RATES 2/7/2014 2/14/2014
 
UNITED STATES
3 month T-Bill 0.08% 0.02%
6 Month T-Bill 0.09% 0.07%
10 Year T-Bond 2.71% 2.75%
30 Yr Fixed Mortgage-Bankrate.com 4.43% 4.48%
30 Yr Fixed Mortgage-MBA 4.45%
 
 
AMERICAS
 
BRAZIL
SELIC Rate-Daily 10.40% 10.40%
 
MEXICO
3 Month T-Bill 3.41% 3.40%
6 Month T-Bill 3.51% 3.51%
1 Year T-Bill 3.69% 3.71%
 
PERU
Central Bank Reference Rate 4.00% 4.00%
 
AFRICA
 
GHANA
3 Month T-Bill 19.52% 20.12%
6 Month T-Bill 19.34% 19.85%
1 Year T-Bill 17.00% 17.00%
2 Year T-Bill 16.00% 16.30%
3 Year T-Bill
5 Year T-Bill
 
KENYA
3 Month T-Bill 9.17% 9.15%
6 Month T-Bill 10.34% 10.36%
1 Year T-Bond 10.67% 10.67%
4 Year T-Bond
 
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
 
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 12.10% 12.10%
182 Day Gov’t Security-PMO 13.01% 13.01%
364 Day Gov’t Security-PMO 14.07% 14.07%
 
SOUTH AFRICA
3 Month T-Bill 5.59% 5.54%
6 Month T-Bill 6.13% 6.06%
1 Year T-Bill 6.79% 6.54%
10.5% (2026) 8.69% 8.75%
13.5% (2015) 7.09% 7.16%
 
UGANDA
3 month T-Bill 9.27% 9.27%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 13.04% 13.04%
3 Year T-Bond 13.19% 13.19%
5 Year T-Bond 13.92% 13.92%
10 Year T-Bond 13.92% 13.94%
 
ZAMBIA
3 Month T-Bill 8.00% 8.00%
6 Month T-Bill 14.99% 14.99%
1 Year T-Bill 15.30% 15.30%
2 Year T-Bill 14.00% 14.00%
3 Year T-Bill 15.50% 15.50%
5 Year T-Bond 16.50% 16.50%
10 Year T-Bond 18.15% 18.15%
15 Year T-Bond 18.00% 18.00%
INDIA
3 Month T-Bill 8.98% 9.11%
6 Month T-Bill 8.95% 9.08%
1 Year T-Bill 8.97% 8.97%
Base Lending Rate 10.25% 10.25%
Policy Rate 9.00% 9.00%

 

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Emerging Markets Exchange Rates & Interest Rates – 7 February 2014

 

 

EXCHANGE RATES 1/31/2014 2/7/2014 %CHG
AMERICAS
 
ARGENTINA 8.0200 7.8555 2.09%
BRAZIL 2.4218 2.3908 1.30%
CHILE 556.2750 554.0350 0.40%
COLUMBIA 2,023.7800 2,050.2300 -1.29%
COSTA RICA 512.5100 525.8800 -2.54%
JAMAICA 107.1900 107.3700 -0.17%
MEXICO 13.3818 13.3525 0.22%
PERU 2.8215 2.8215 0.00%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
 
 
AFRICA
 
BOTSWANA 9.1366 8.9969 1.55%
COTE D’IVOIRE (CFA) 486.4170 481.6660 0.99%
GHANA 2.3800 2.4100 -1.24%
KENYA 86.4500 86.0000 0.52%
NAMIBIA 11.1688 11.0790 0.81%
NIGERIA 162.2500 163.3700 -0.69%
SENEGAL (CFA) 486.4170 481.6660 0.99%
SOUTH AFRICA 11.1688 11.0790 0.81%
TANZANIA 1,624.0000 1,621.0000 0.19%
UGANDA 2,475.0000 2,467.0000 0.32%
ZAMBIA 5.5850 5.6100 -0.45%
ZAMBIA-Boz Bid 5.5765 5.5985 -0.39%
ZAMBIA-Boz Ask 5.5865 5.6085 -0.39%
ZIMBABWE 378.0000 378.0000 0.00%
 
INDIA 62.6550 62.3600 0.47%
 
 
INTEREST RATES 1/31/2014 2/7/2014
 
UNITED STATES
3 month T-Bill 0.02% 0.08%
6 Month T-Bill 0.06% 0.09%
10 Year T-Bond 2.67% 2.71%
30 Yr Fixed Mortgage-Bankrate.com 4.50% 4.43%
30 Yr Fixed Mortgage-MBA 4.47%
 
 
AMERICAS
 
BRAZIL
SELIC Rate-Daily 10.40% 10.40%
 
MEXICO
3 Month T-Bill 3.43% 3.41%
6 Month T-Bill 3.57% 3.51%
1 Year T-Bill 3.69%
 
PERU
Central Bank Reference Rate 4.00% 4.00%
 
AFRICA
 
GHANA
3 Month T-Bill 19.62% 19.52%
6 Month T-Bill 19.44% 19.34%
1 Year T-Bill 17.00% 17.00%
2 Year T-Bill 16.00% 16.00%
3 Year T-Bill
5 Year T-Bill
 
KENYA
3 Month T-Bill 9.17% 9.17%
6 Month T-Bill 10.34% 10.34%
1 Year T-Bond 10.67% 10.67%
4 Year T-Bond
 
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
 
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 11.05% 12.10%
182 Day Gov’t Security-PMO 12.70% 13.01%
364 Day Gov’t Security-PMO 13.92% 14.07%
 
SOUTH AFRICA
3 Month T-Bill 5.18% 5.59%
6 Month T-Bill 5.57% 6.13%
1 Year T-Bill 5.88% 6.79%
10.5% (2026) 8.83% 8.69%
13.5% (2015) 7.29% 7.09%
 
UGANDA
3 month T-Bill 8.76% 9.27%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 13.04% 13.04%
3 Year T-Bond 13.19% 13.19%
5 Year T-Bond 13.92% 13.92%
10 Year T-Bond 13.92% 13.92%
 
ZAMBIA
3 Month T-Bill 8.00% 8.00%
6 Month T-Bill 14.99% 14.99%
1 Year T-Bill 15.40% 15.30%
2 Year T-Bill 14.00% 14.00%
3 Year T-Bill 15.50% 15.50%
5 Year T-Bond 16.50% 16.50%
10 Year T-Bond 18.15% 18.15%
15 Year T-Bond 18.00% 18.00%
INDIA
3 Month T-Bill 8.90% 8.98%
6 Month T-Bill 8.95% 8.95%
1 Year T-Bill 8.67% 8.97%
Base Lending Rate 10.25% 10.25%
Policy Rate 9.00% 9.00%

 

 

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Emerging Markets Exchange Rates & Interest Rates – 31 January 2014

 

 

EXCHANGE RATES 1/24/2014 1/31/2014 %CHG
AMERICAS
 
ARGENTINA 8.0400 8.0200 0.25%
BRAZIL 2.4125 2.4218 -0.38%
CHILE 551.5950 556.2750 -0.84%
COLUMBIA 2,001.8900 2,023.7800 -1.08%
COSTA RICA 504.3450 512.5100 -1.59%
JAMAICA 106.7000 107.1900 -0.46%
MEXICO 13.5050 13.3818 0.92%
PERU 2.8225 2.8215 0.04%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
 
 
AFRICA
 
BOTSWANA 9.0293 9.1366 -1.17%
COTE D’IVOIRE (CFA) 479.3080 486.4170 -1.46%
GHANA 2.4300 2.3800 2.10%
KENYA 85.9000 86.4500 -0.64%
NAMIBIA 11.1121 11.1688 -0.51%
NIGERIA 160.4500 162.2500 -1.11%
SENEGAL (CFA) 479.3080 486.4170 -1.46%
SOUTH AFRICA 11.1121 11.1688 -0.51%
TANZANIA 1,620.0000 1,624.0000 -0.25%
UGANDA 2,477.0000 2,475.0000 0.08%
ZAMBIA 5.5250 5.5850 -1.07%
ZAMBIA-Boz Bid 5.5209 5.5765 -1.00%
ZAMBIA-Boz Ask 5.5309 5.5865 -1.00%
ZIMBABWE 378.0000 378.0000 0.00%
 
INDIA 62.4900 62.6550 -0.26%
 
 
INTEREST RATES 1/24/2014 1/31/2014
 
UNITED STATES
3 month T-Bill 0.04% 0.02%
6 Month T-Bill 0.06% 0.06%
10 Year T-Bond 2.75% 2.67%
30 Yr Fixed Mortgage-Bankrate.com 4.56% 4.50%
30 Yr Fixed Mortgage-MBA 4.52%
 
 
AMERICAS
 
BRAZIL
SELIC Rate-Daily 10.40% 10.40%
 
MEXICO
3 Month T-Bill 3.41% 3.43%
6 Month T-Bill 3.56% 3.57%
1 Year T-Bill
 
PERU
Central Bank Reference Rate 4.00% 4.00%
 
AFRICA
 
GHANA
3 Month T-Bill 19.60% 19.62%
6 Month T-Bill 19.43% 19.44%
1 Year T-Bill 17.00% 17.00%
2 Year T-Bill 16.50% 16.00%
3 Year T-Bill
5 Year T-Bill
 
KENYA
3 Month T-Bill 9.17% 9.17%
6 Month T-Bill 10.34% 10.34%
1 Year T-Bond 10.67% 10.67%
4 Year T-Bond
 
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
 
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 11.20% 11.05%
182 Day Gov’t Security-PMO 12.59% 12.70%
364 Day Gov’t Security-PMO 13.63% 13.92%
 
SOUTH AFRICA
3 Month T-Bill 5.16% 5.18%
6 Month T-Bill 5.54% 5.57%
1 Year T-Bill 5.80% 5.88%
10.5% (2026) 8.48% 8.83%
13.5% (2015) 6.36% 7.29%
 
UGANDA
3 month T-Bill 8.76% 8.76%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 13.04% 13.04%
3 Year T-Bond 14.13% 13.19%
5 Year T-Bond 13.92% 13.92%
10 Year T-Bond 14.38% 13.92%
 
ZAMBIA
3 Month T-Bill 8.00% 8.00%
6 Month T-Bill 14.99% 14.99%
1 Year T-Bill 15.40% 15.40%
2 Year T-Bill 14.00% 14.00%
3 Year T-Bill 15.50% 15.50%
5 Year T-Bond 16.50% 16.50%
10 Year T-Bond 18.15% 18.15%
15 Year T-Bond 18.00% 18.00%
INDIA
3 Month T-Bill 8.69% 8.90%
6 Month T-Bill 8.71% 8.95%
1 Year T-Bill 8.67% 8.67%
Base Lending Rate 10.25% 10.25%
Policy Rate 8.75% 9.00%

 

 

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Emerging Markets Exchange Rates & Interest Rates – 24 January 2014

 

 

EXCHANGE RATES 1/17/2014 1/24/2014 %CHG
AMERICAS  
   
ARGENTINA 6.8125 8.0400 -15.27%
BRAZIL 2.3597 2.4125 -2.19%
CHILE 539.2250 551.5950 -2.24%
COLUMBIA 1961.8700 2,001.8900 -2.00%
COSTA RICA 501.2050 504.3450 -0.62%
JAMAICA 106.4250 106.7000 -0.26%
MEXICO 13.2640 13.5050 -1.78%
PERU 2.8055 2.8225 -0.60%
TRINIDAD & TOBAGO 6.4100 6.4100 0.00%
VENEZUELA 6.2921 6.2921 0.00%
   
   
AFRICA  
   
BOTSWANA 8.9326 9.0293 -1.07%
COTE D’IVOIRE (CFA) 483.8330 479.3080 0.94%
GHANA 2.3850 2.4300 -1.85%
KENYA 85.9600 85.9000 0.07%
NAMIBIA 10.8370 11.1121 -2.48%
NIGERIA 159.8500 160.4500 -0.37%
SENEGAL (CFA) 483.8330 479.3080 0.94%
SOUTH AFRICA 10.8370 11.1121 -2.48%
TANZANIA 1611.0000 1,620.0000 -0.56%
UGANDA 2495.0000 2,477.0000 0.73%
ZAMBIA 5.5300 5.5250 0.09%
ZAMBIA-Boz Bid 5.5073 5.5209 -0.25%
ZAMBIA-Boz Ask 5.5173 5.5309 -0.25%
ZIMBABWE 378.0000 378.0000 0.00%
   
INDIA 61.4750 62.4900 -1.62%
 
 
INTEREST RATES 1/17/2014 1/24/2014
 
UNITED STATES
3 month T-Bill 0.05% 0.04%
6 Month T-Bill 0.07% 0.06%
10 Year T-Bond 2.84% 2.75%
30 Yr Fixed Mortgage-Bankrate.com 4.57% 4.56%
30 Yr Fixed Mortgage-MBA 4.57%
 
 
AMERICAS
 
BRAZIL
SELIC Rate-Daily 10.40% 10.40%
 
MEXICO
3 Month T-Bill 3.35% 3.41%
6 Month T-Bill 3.54% 3.56%
1 Year T-Bill
 
PERU
Central Bank Reference Rate 4.00% 4.00%
 
AFRICA
 
GHANA
3 Month T-Bill 19.41% 19.60%
6 Month T-Bill 19.24% 19.43%
1 Year T-Bill 17.00% 17.00%
2 Year T-Bill 16.50% 16.50%
3 Year T-Bill
5 Year T-Bill
 
KENYA
3 Month T-Bill 9.40% 9.17%
6 Month T-Bill 10.38% 10.34%
1 Year T-Bond 10.50% 10.67%
4 Year T-Bond
 
NAMIBIA
3 month T-Bill
6 Month T-Bill
1 Year T-Bill
 
NIGERIA
91 Day Gov’t Security-OMO
182 Day Gov’t Security-OMO
364 Day Gov’t Security-OMO
91 Day Gov’t Security-PMO 11.20% 11.20%
182 Day Gov’t Security-PMO 12.59% 12.59%
364 Day Gov’t Security-PMO 13.63% 13.63%
 
SOUTH AFRICA
3 Month T-Bill 5.24% 5.16%
6 Month T-Bill 5.55% 5.54%
1 Year T-Bill 5.77% 5.80%
10.5% (2026) 8.33% 8.48%
13.5% (2015) 6.22% 6.36%
 
UGANDA
3 month T-Bill 8.89% 8.76%
6 Month T-Bill
1 Year T-Bill
2 Year T-Bond 13.04% 13.04%
3 Year T-Bond 14.13% 14.13%
5 Year T-Bond 13.92% 13.92%
10 Year T-Bond 14.38% 14.38%
 
ZAMBIA
3 Month T-Bill 7.75% 8.00%
6 Month T-Bill 14.80% 14.99%
1 Year T-Bill 15.65% 15.40%
2 Year T-Bill 14.00% 14.00%
3 Year T-Bill 15.50% 15.50%
5 Year T-Bond 16.50% 16.50%
10 Year T-Bond 18.15% 18.15%
15 Year T-Bond 18.00% 18.00%
INDIA
3 Month T-Bill 8.73% 8.69%
6 Month T-Bill 8.77% 8.71%
1 Year T-Bill 8.74% 8.67%
Base Lending Rate 10.25% 10.25%
Policy Rate 8.75% 8.75%

 

 

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