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JERUSALEM, April 21 (Reuters) - Israel is prepared to tap international markets for a benchmark-sized sovereign debt offering in 2021 with the timing and size still to be determined and dependent on market conditions, the country’s accountant general said.
The issue will most likely be euro-denominated after large dollar-denominated offerings in 2020. Israel typically alternates between dollar and euro every year, and the bonds typically attract a huge number of foreign, thanks to the country’s relatively strong economy.
“We do both dollar and euro but right now the euro market is more attractive,” Accountant General Yali Rothenberg said in response to a question from Reuters on bond issues.
Kenya's and Nigeria's currencies are expected to trade within existing ranges in the coming week, analysts and traders said. Tanzania's currency is seen holding steady, while Uganda's is expected to firm.
By Reuters Staff
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NAIROBI, April 29 (Reuters) - Kenya’s and Nigeria’s currencies are expected to trade within existing ranges in the coming week, analysts and traders said. Tanzania’s currency is seen holding steady, while Uganda’s is expected to firm.
NIGERIA
The naira is seen range-bound next week as the central bank tries to boost forex sales through direct interventions to local firms and foreign investors, traders said.
The currency traded within a range of 410.46 naira to 422 naira on the over-the-counter spot market on Thursday after the central bank last week re-priced its futures rate upwards and sold dollars to foreign investors.
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ISTANBUL (Reuters) - Turkey’s lira edged lower in early trading on Monday, adding to a recent slide and nearing an all-time low as a chill settled on relations with the United States and after the new central bank chief signalled that rate hikes would harm the economy.
FILE PHOTO: Turkish lira banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration
The currency, among the worst performers in emerging markets this year, touched 8.425 versus the dollar, nearing its low water mark in 2021 and close to its record 8.58 reached in early November.
“Market negativity is intense. (The) risk of an overshooting episode is unfortunately elevated,” said Robin Brooks, chief economist at the Institute of International Finance.
4 Min Read
ISTANBUL (Reuters) -Turkey’s lira slid on Monday to near an all-time low as a chill settled on relations with the United States, and after the new central bank chief signalled that rate hikes would harm the economy.
FILE PHOTO: Turkish lira banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration
The currency, among the worst performers in emerging markets this year, weakened as much as 0.6% to 8.48 versus the dollar, close to its 2021 low water mark and closing in on its record of 8.58 reached in early November.
“Market negativity is intense. (The) risk of an overshooting episode is unfortunately elevated,” Robin Brooks, chief economist at the Institute of International Finance, said on Twitter.