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Egyptian pound steady at official auction, weaker on black market CAIRO: Egypt's central bank kept the pound steady at 7.53 to the dollar at a foreign exchange auction on Sunday, while the currency weakened on the black market.The central bank has held the official exchange rate steady for more than three months since letting the pound weaken at the beginning of 2015. This weakening and other measures have helped reduce black market trading significantly.In Sunday's auction, the bank said it had offered $40 million and sold $37.8 million at a cut-off price of 7.5301 pounds per dollar, unchanged from Thursday's rate.On the black market, the pound was trading at 7.67 pounds to the dollar on Sunday, a trader said, weaker than the 7.65 pounds quoted on Thursday.Black market traders say volumes have fallen sharply since the central bank's drive to stamp out their transactions, including the introduction of a cap in February on the amount of dollars that can be ...

Dollar weakens against euro for first time this week NEW YORK: The US dollar weakened against the euro for the first time this week on Thursday as investors were reluctant to enter new positions after a dramatic selloff over the past month, and as some US economic data disappointed. The greenback had gained earlier this week as US and German government bonds recovered. The selloff sent the dollar as high of $1.1466 on May 15, from $1.0519 a month earlier. But nerves over whether ...

Sterling surges after UK retail sales boost LONDON: Sterling powered to a two-month high against the euro and erased much of this week's loss against the dollar on Thursday after data showed British retail sales rose more strongly than expected in April.The pound had taken a knock from a fall in inflation below zero for the first time since 1960 in April and the sales figures eased concerns that a slowdown in growth in the first quarter might be the start of ...

South Africa's rand softer, bonds flat on rate decision JOHANNESBURG: South Africa's rand was a touch softer against the dollar on Thursday, coming off the session's highs after the central bank left rates unchanged despite a hawkish policy statement that had fuelled last minute expectations for a hike.Governor Lesetja Kganyago said the bank's monetary policy committee voted 4:2 in favour of keeping the benchmark repo at 5.75 percent but warned the deteriorating inflation outlook meant the stance could not be "maintained indefinitely".The rand touched ...

Euro boosted by data, rise in Bund yields LONDON: The euro rose against the dollar on Thursday for the first time this week, helped by nascent signs of a recovery in euro zone activity and a rise in German Bund yields which narrowed the spread over U.S. Treasuries.Data on Thursday showed the composite flash PMI for the euro zone fell to 53.4 from 53.9, missing the 53.8 forecast in a Reuters poll. Despite the drop, data compiler Markit said, the euro zone is ...

Sterling surges after stronger-than-expected UK retail sales LONDON: Sterling hit a two-month high versus the euro and jumped against the dollar on Thursday after data showed British retail sales rose more strongly than expected in April, recovering from a fall the previous month.The pound had taken a knock earlier in the week on news that UK inflation had fallen below zero for the first time since 1960 in April. But the sales figures eased concerns that a slowdown in Britain's economy in ...

Euro lifted by French PMI survey, but weaker German data caps gains LONDON: The euro rose against the dollar for the first time in four days on Thursday, helped by signs of a recovery in French business activity, although a slowdown in Germany's private sector kept gains limited.Markit's flash composite Purchasing Managers' Index (PMI) for Germany, which tracks manufacturing and services activity accounting for more than two-thirds of the economy, dropped from April's final reading.For France, data compiler Markit said its preliminary composite purchasing managers index, moved ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln