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Sterling gains after BoE minutes shows ‘spread of views’ LONDON: Sterling rose from 14-month lows against the dollar on Wednesday after Bank of England minutes showed that two policymakers supporting an increase in interest rates were sticking to their guns despite a softening economic outlook.There had been some market speculation about a generally more dovish tone and that either Ian McCafferty or Martin Weale would reverse their support for an immediate hike in rates. However, the minutes said there had been a "material spread of views" on the Monetary Policy Committee."This is the key line for us," said Paul Robson, a strategist at RBS in London."Perhaps the market was prepared for the majority to be very set in the view that the outlook was weaker. That is not the case and so we have had a bit of position-squaring on some of the sterling shorts."Sterling recovered from a low of $1.5590 hit just before the data, gaining half a ...


Ugandan shilling weakens as commercial banks buy dollars KAMPALA: The Ugandan shilling lost ground on Wednesday as commercial banks bought dollars, but its weakening was expected to be limited by a shortage of local currency.At 1027 GMT, commercial banks quoted the shilling at 2,743/2,753, weaker than Tuesday's close of 2,730/2,740."Some banks are going long, I think the bullish trend of the dollar in international markets is driving their demand," said Shahzad Kamaluddin, trader at Crane Bank."However there's significant tightness in availability of the ...

Egyptian pound weakens on black market on Qatari repayment jitters CAIRO: The Egyptian pound was flat at a central bank dollar sale on Wednesday but weakened significantly on the black market as Egypt's plans to repay a $2.5 billion Qatari deposit raised concerns of a looming dollar shortage, traders said.The bank offered $40 million on Wednesday and said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Monday.The rates at which banks are allowed ...

Indian rupee hits 8-1/2 month low on dollar demand from oil firms MUMBAI: The Indian rupee hit an 8-1/2 month low on Wednesday as global gains in the dollar ahead of the release of U.S. Federal Reserve minutes later in the day and slumping crude prices spurred oil firms to accelerate their greenback purchases.Fed minutes come amid rising expectations the U.S. central bank is moving towards eventual rate hikes, in contrast to the European Central Bank or the Bank of Japan.Any U.S. rate hikes could end up ...

Sri Lankan rupee forwards fall slightly on importer dollar demand COLOMBO: Sri Lankan rupee forwards ended slightly weaker on Wednesday due to importer dollar demand, though moral suasion from the central bank limited the fall, dealers said.The local currency was under pressure as imports continue to rise in a stable exchange rate regime and a low interest rate environment, they said.The rupee will likely remain weak due to rising seasonal imports, at least through November and then start to inch up in December on remittances, ...

South Africa's rand a touch softer ahead of CPI, US Fed JOHANNESBURG: South Africa's rand retreated slightly against the dollar on Wednesday, although traders did not expect it to break out of current ranges ahead of the release of US Federal Reserve minutes. Domestic consumer inflation data set to be released at 0800 GMT was unlikely to impact the currency much, with economists polled by Reuters expecting the year-on-year rate to have stayed unchanged at 5.9 percent in October. This would be within the Reserve Bank's ...

Sri Lankan rupee forwards steady on central bank moral suasion COLOMBO: Sri Lankan rupee forwards traded steady on Wednesday despite importer dollar demand due to moral suasion from the central bank, dealers said. However, the local currency was under pressure as imports continue to rise in a stable exchange rate regime and a low interest rate environment, they said. The rupee will likely remain weak due to rising seasonal imports, at least through November and then start to inch up in December on remittances, they ...


 



 
Index Closing Chg%
Arrow DJIA 17,719.00 0.19
Arrow Nasdaq 4,701.87 0.56
Arrow S&P 2,052.75 0.20
Arrow FTSE 6,678.90 0.26
Arrow DAX 9,483.97 0.12
Arrow CAC-40 4,234.21 0.75
Arrow Nikkei 17,300.86 0.07
Arrow H.Seng 23,349.64 0.10
Arrow Sensex 28,067.56 0.12






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln