Currency Forecasts

In spite of recent volatility, we expect the Iranian Rial to continue to gradually depreciate against the dollar, as the government seeks to ensure non-oil exports remain competitive.... 2008-06-25

The primary risks are to the upside. The government has a more optimistic forecast for copper output growth, targeting 1mn tonnes of refined copper per year by 2011, above our 2011... 2008-06-05

We remain bullish the Israeli shekel in the short-term particularly in light of the Bank of Israel's (BoI) decision to raise the key lending rate on 24 December by 25bps to 3.5%.... 2008-05-29

On the back of strong foreign investor demand for local currency government bonds and seasonal donor inflows, the Ugandan shilling has appreciated rapidly since the beginning of May,... 2008-05-15

We expect the Central Bank of Iraq (CBI) to maintain its strategy of allowing gradual appreciation of the dinar, while keeping interest rates generally stable, in order to ensure... 2008-05-14

The dinar has appreciated steadily against the US dollar since mid-2006 due to a combination of upside pressures. Firstly, the greenback has dropped to record lows against almost... 2008-04-18

We see a reversal in the dinar's long-term appreciation against the dollar during 2008, forecasting a move back to DZD66.5/US$ by year-end. Looking further ahead, easing oil prices... 2008-04-14

The South African rand has had a bad year so far, depreciating by more than 16.0% and 23.0% against the US dollar and the euro respectively year-to-date, and we forecast that the... 2008-03-13

We are forecasting broad stability against the dollar at around KWD0.2735/US$, but with the new basket peg regime (thought to be around 70% US$, with the majority of the remainder... 2008-02-21

In the short term we see the shilling making slight gains towards TZS1,140/US$ from TZS1,150/US$ in the next few months, on the back of solid macroeconomic fundamentals, donor inflows... 2008-02-14