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Euro hits 1-year low vs dollar on ECB bets; sterling falls NEW YORK: The euro sagged on Tuesday to fresh one-year lows against the dollar on bets the European Central Bank will do more to help a wobbly euro zone economy, while the pound fell to a near five-month low versus the greenback on worries about a Scottish secession.The dollar rose against a basket of major currencies, hitting its highest since July 2013. It traded above 105 yen for the first time in eight months on signs of relative strength in the world's biggest economy.The ECB will hold a policy meeting on Thursday and traders will watch for signs President Mario Draghi is moving towards quantitative easing, which would pump more cash into the economy in a bid to stimulate lending and spending.Such a move however would hurt the euro, which has declined 3.4 percent against the dollar in the past three months and 1.1 percent against the yen."For the ECB, ...


Dollar jumps after US data; bond prices slump NEW YORK: The dollar jumped to its highest this year against the yen on Tuesday, lifted by strong US economic data, while the euro slipped to a one-year low on speculation the European Central Bank will move toward looser monetary policy when it meets later this week.US manufacturing activity rose to its highest level in nearly 3-1/2 years in August and construction spending rebounded strongly in July, in the latest signs of the US economy's ...

South Africa's rand falls to three-week lows in risk-averse trade JOHANNESBURG: South Africa's rand traded at its weakest in more than three weeks against the dollar on Tuesday, as political tensions between Russia and Ukraine dented appetite for riskier emerging market assets.Yields on longer dated government bonds rose after demand for debt at the higher end of the curve came in much lower at the latest weekly auction, compared with previous sales.The yield for on the 2026 benchmark jumped 12 basis points to 8.115 percent, ...

Dollar index to rise into 83.16-83.373 range SINGAPORE: The dollar index is expected to rise into a range of 83.16-83.373 in a week, as it has broken a resistance at 82.662.The resistance had been formed at the 138.2 percent Fibonacci projection level of an upward wave c. The next resistance will be at 83.16, the 161.8 percent level.A Fibonacci retracement on the fall from the July 9, 2013 high of 84.753 to the May 8 low of 78.906 reveals the index has ...

Sterling hit hard by growing support for Scottish independence LONDON: Sterling fell and the cost of hedging against sharp currency swings surged on Tuesday, after a poll showed record support for Scottish independence just two weeks before a referendum that poses risks for the pound.The YouGov poll showed support for the pro-independence "Yes" campaign had risen to 47 percent, a four point gain since mid-August and up eight points since the start of the month. The lead held by the "No" campaign to reject ...

Ugandan shilling firms on thin liquidity, debt auctions KAMPALA: The Ugandan shilling strengthened on Tuesday on a shortage of the local currency and an interbank sell-off in expectation of dollar inflows from offshore investors targeting Treasury auctions.At 0927 GMT commercial banks quoted the shilling at 2,600/2,610, stronger than Monday's close of 2,608/2,618.The central bank conducted a seven-day repo on Monday, sucking out local currency, though it did not disclose how much it had taken out."There isn't much liquidity to fund building of (dollar) ...

Sterling 1-month implied volatility jumps on Scottish poll LONDON: The cost of hedging against sharp swings in the British pound in the near term jumped on Tuesday, on track for its biggest one-day rise in three years as investors sought to insure against the risk Scotland breaks away from the United Kingdom.One-month sterling/dollar implied volatility rose to around 6.10 percent, its highest level in five-months, up from 5.10 percent on Monday.A YouGov poll late on Monday showed support for the pro-independence "Yes" campaign ...


 



 
Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,825.31 0.08
Arrow DAX 9,479.03 0.09
Arrow CAC-40 4,379.73 0.03
Arrow Nikkei 15,476.60 0.34
Arrow H.Seng 24,752.09 0.04
Arrow Sensex 26,867.55 0.86





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln