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Turkish lira down, Bank Asya shares hit record low ISTANBUL: The Turkish lira was trading at 5-1/2-month lows on Tuesday as fears of a hawkish shift in the US Federal Reserve's policy stance hit emerging market assets. Shares in Bank Asya fell 10 percent to 0.89 lira, a record low, amid uncertainty over its future.The bank's shares fell 20 percent on Monday as trading resumed after a suspension of more than a month due to uncertainty regarding its ownership.The lira fell to 2.2203 against the dollar by 0641 GMT from 2.2133 late on Monday. Emerging markets worldwide have suffered in the last week as investors re-assess the likely timing and speed of rate hikes by the Fed. This has boosted the dollar and US Treasury yields. The Fed begins a two-day policy meeting on Tuesday. Turkey is susceptible to global liquidity conditions due to its large current account deficit. "While the Fed is getting ready for a rate hike, ...


Sterling slips as Scottish vote nears, soft UK inflation could hurt LONDON: Sterling fell back towards recent lows on Tuesday, keeping the cost of hedging against sharp swings over the next week at its highest in four years, as nervousness intensified before Scotland's vote on independence in two days time. After days of choppiness caused by the heated Scottish referendum debate where the pound is centre-stage, investors will focus on economic data for a brief while on Tuesday. UK inflation data is due out at 0830 ...

Kenyan shilling steady, seen weaker on pent-up dollar demand NAIROBI: The Kenyan shilling was flat on Tuesday but was expected to weaken due to expected demand from importers for dollars amid scant hard currency inflows.At 0830 GMT, commercial banks quoted the shilling unchanged at 88.90/89.00 to the dollar.The currency of East Africa's biggest economy on Monday slipped briefly to a 32-month low of 88.95/89.05, Reuters data showed.Traders said there was little inflow of dollars from the tea and tourism sectors, which are leading foreign ...

Dollar climbs as Fed seen turning more hawkish this week NEW YORK: The dollar rose against major currencies on Monday, bolstered by expectations the Federal Reserve this week will acknowledge anew improvements in the US economy and provide fresh details about the US central bank's looming tightening policy. The dollar index, a measure of the greenback's value against six major currencies, has posted weekly gains for nine straight weeks on evidence the US economy has continued to gain traction relative to other major nations.The index ...

C$ firms as it bounces off key resistance level TORONTO: The Canadian dollar firmed against the greenback on Monday, recovering from a more than five-month low hit overnight as the currency pairing backed away from resistance at C$1.11.Investors started the week with some major events on the horizon, including a policy statement by the US Federal Reserve on Wednesday and a speech from the head of the Bank of Canada on Tuesday.Also, Scotland's referendum on whether to leave the United Kingdom will come on ...

Australia & NZ dollars bounce off multi-month lows, but vulnerable WELLINGTON/SYDNEY: The Australian and New Zealand dollars rebounded from multi-month lows on Tuesday after recent sharp losses left the currencies overstretched, with investors cautious ahead of a Federal Reserve policy meeting. The Australian dollar bounced to $0.9042, having been as deep as $0.8984.That was the lowest since March and a major support level as it marks the 61.8 percent retracement of the rally from $0.8660 in January to $0.9505 in July. The rebound came as ...

China's yuan edges down on weak midpoint and FDI data SHANGHAI: China's yuan softened against the dollar on Tuesday for the fourth straight day after the central bank set a weaker midpoint and in response to weak foreign direct investment (FDI) figures.The People's Bank of China set the midpoint at 6.1462 per dollar prior to market open, down 0.02 percent from the previous fix. The spot rate is currently allowed to trade 2 percent above or below the midpoint.Spot yuan opened at 6.1501 per dollar, ...


 



 
Index Closing Chg%
Arrow DJIA 17,031.14 0.26
Arrow Nasdaq 4,518.90 1.07
Arrow S&P 1,984.13 0.07
Arrow FTSE 6,804.21 0.04
Arrow DAX 9,659.63 0.09
Arrow CAC-40 4,428.63 0.29
Arrow Nikkei 15,948.29 0.25
Arrow H.Seng 24,356.99 0.97
Arrow Sensex 26,816.56 0.90





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln