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Rouble decline to continue for two years: Russian ex-minister MOSCOW: Russia's rouble, which has fallen almost 30 percent against the dollar this year, will continue to decline over the next two years, Interfax news agency quoted former Finance Minister Alexei Kudrin as saying on Saturday.The rouble has sunk during an economic downturn, made worse by a fall in global oil prices and sanctions imposed by the West over the crisis in Ukraine."In the next two years, it (the rouble) will be weakening, meaning it will continue to decline a little. This will be happening slowly," Kudrin, a long-time ally of President Vladimir Putin, told reporters on the sidelines of a conference.Analysts have predicted that the currency will be volatile since the central bank decided this month to let the rouble float freely.Kudrin said in a commentary published on Friday that it would take years of economic growth to woo foreign investors back to Russia and restore trust in the ...

Yen rebound lifts regional peers; Asia FX down for week SINGAPORE: Emerging Asian currencies rose on Friday as the yen rebounded after Japan's Finance Minister Taro Aso warned against the currency's recent swift fall, although most regional units were set for another week of losses.The yen gained as Aso earlier described the currency's weakening as "too rapid," but ruled out intervention to halt the slide.The rebound caused investors to cover short positions in emerging Asian currencies.Still, most regional units were poised to post weekly losses, ...

Kenyan shilling lifted by central bank dollar sales NAIROBI: Kenya's shilling was lifted off three-year lows on Friday after the central bank sold dollars to support the weakening currency for a second consecutive day."They have sold (dollars) to mid-sized banks," said one trader, who asked not to be named because of sensitivities about publicly discussing central bank intervention and policies.By 0836 GMT, the shilling was quoted at 89.90/90.10, compared with 90.10/30 earlier in the session.The currency initially strengthened to 89.75/95 on Friday but ...

Sterling dips after anti-EU party wins second by-election LONDON: Sterling inched lower on Friday after anti-EU party UKIP took a second parliamentary seat from Prime Minister David Cameron's Conservatives, a harbinger of growing political risk ahead of next May's general election. Dealers played down any major impact from the vote in a constituency just south of London, but said concerns about the political outlook were clearly one of the factors behind a continuing downbeat tone on sterling. The pound is down 1.5 percent ...

Yen rises after Japan fin min warns against rapid fall LONDON: The yen rose on Friday after Japanese Finance Minister Taro Aso said the currency's fall over the past week was too rapid, in one of the strongest warnings against a weak yen since Japan started its aggressive monetary stimulus two years ago. The dollar fell to 117.355 from around 118 yen before his comments. It was last at 117.65 yen, down 0.5 percent on the day, and below a 7-year high of 118.98 yen ...

Swiss franc eases on growing talk of SNB intervention LONDON: The Swiss franc eased to a nine-day low against the euro on Friday, with dealers citing market talk that the Swiss National Bank may be intervening to weaken the currency as it hovers close to a three-year old cap. The euro rose 0.1 percent to 1.2033 francs, its highest level in over a week. "Price action over the last few days suggests to us that the Swiss National Bank might have started to purchase ...

Euro extends losses as Draghi's comments on more action weigh LONDON: The euro fell sharply against the dollar and the yen on Friday after European Central Bank chief Mario Draghi said inflation expectations were declining to levels that would be deemed excessively low, keeping the door open for further easing. The euro shed 1 percent against the yen to 146.72 yen, while it dropped 0.6 percent against the dollar to trade at $1.2450. Draghi also said the central bank is ready to act in a ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln