1.CBN slashes BDCs’ dollar sales to $10,000:
The Central Bank of Nigeria (CBN) will this week sell $10,000 to each of the 2,839 Bureaux de Change (BDC) operators it approved last week
2.Uganda to Aquire More Concessional Loans for Infrastructure Plans:
Uganda will lift concessional borrowing by more than a quarter in the coming budget year to fund infrastructure projects, according to Finance Ministry.
3.Hyundai Posts First China Sales Loss for more than 8 years on Shift to SUVs:
Hyundai Motors Co. posted its first annual sales loss in China for more than 8 years as a slowing economy and shift in consumer preferences to cheap sport utility vehicles hurt demand for its sedan-heavy lineup.
4.India’s Rupee Rebounds After Biggest Decline Since November:
India’s rupee rebounded from the biggest drop since November as sentiment toward riskier assets improved after Chinese authorities moved to calm investors following an equity-market selloff.
5.South African rand flat, stocks open a touch firmer,Reuters:
South Africa’s rand was flat against the dollar on Tuesday, with traders and analysts expecting sideways trade as the market slowly gets back to full steam after the year-end break.
6.Oil prices steady with Asian equities, but oversupply drags:
Crude prices stabilized on Tuesday along with Asian stock markets, following heavy losses late in the previous session, although weak market fundamentals with production levels persistently above demand kept a lid on gains.
7.China has weakened its yuan again:
The USD/CNY rate was set at 6.5169 overnight on Tuesday, higher than Monday’s fix of 6.5032 but below yesterday’s closing level of 6.5338. A higher figure indicates that the US dollar has strengthened against the Chinese currency.
