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Dollar rallies broadly after Fed signals 2015 rate hike NEW YORK: The US dollar posted its biggest daily gain against major currencies since early October on Wednesday after the Federal Reserve signaled it was on track to hike interest rates sometime next year. The dollar hit its highest levels against the euro and Swiss franc in over a week after the Fed altered a pledge to keep rates near zero for a "considerable time" in a show of confidence in the US economy. "Markets are taking the dollar higher, as they should be, because the Fed is on track to hike rates in 2015," said Win Thin, currency strategist at Brown Brothers Harriman in New York. Any rate increases would boost the greenback by driving investment flows into the United States. A comment from Fed Chair Janet Yellen at a press conference that the Fed's policymaking committee considered it unlikely to begin the normalization process for "at least the ...


Dollar jumps as Fed rate guidance shows quiet confidence in US economy TOKYO: The dollar took the upper hand on Thursday after the Federal Reserve signalled it was on track to raise interest rates next year, altering a pledge to keep them near zero for a "considerable time" in a show of confidence in the US economy. The Fed said it would take a "patient" approach in deciding when to bump borrowing costs higher, guidance which it said is consistent with its previous statement that rates will ...

Australian & NZ dollars feel the Fed pinch SYDNEY/WELLINGTON: The Australian and New Zealand dollars nursed deep losses on Thursday after the Federal Reserve showed enough confidence in the US economy to stay on track to raise interest rates next year, giving the US dollar a fillip. The kiwi slipped to a one-week low of $0.7690 in volatile trade, brushing off domestic data showing stronger-than-expected quarterly economic growth. "The data doesn't change our forecast for the first Reserve Bank of New Zealand (RBNZ) ...

Ruble steady in Asia after Russia measures to halt collapse TOKYO: The ruble recovered in Asia Thursday after Russian authorities launched fresh measures to halt its collapse, while the Federal Reserve's indication that interest rates will not rise until mid-2015 supported the dollar.The struggling Russian unit was at 61.20 to the dollar after plunging to 80 earlier in the week, and at 74.92 against the euro after previously hitting 100.Moscow said Wednesday it would sell about $7 billion in foreign reserves to prop up its ...

China FX regulator says closely monitoring Russian rouble slide BEIJING: China is closely monitoring the slide in the Russian rouble, the foreign exchange regulator said on Thursday, as the currency of one of its major energy importers struggles to avoid a free-fall. Wang Yungui, head of policy and regulations for the State Administration of Foreign Exchange (SAFE), told a news conference that China was not overly concerned about signs of forex outflows in recent months."Under the circumstance, signs of capital outflows in certain months ...

Dollar gains as Fed stays course on monetary policy NEW YORK: The dollar jumped against other major currencies Wednesday as the US Federal Reserve signaled no shift in its expectation to raise interest rates in 2015.The Fed left its key interest rate, the federal funds rate, at the 0-0.25 percent level, where it has been for six years to help the US emerge from deep recession.The Federal Open Market Committee "judges that it can be patient in beginning to normalize the stance of monetary ...

South Africa's rand inches higher, remains vulnerable JOHANNESBURG: South Africa's rand was slightly firmer in late afternoon trade on Wednesday, having recouped losses after the collapsing Russian rouble slowed its decline.The rouble's tumble - it is down 50 percent so far this year - has impacted other emerging market currencies, such as the rand. But the drop slowed slightly as Russia's finance ministry said it had started selling foreign currency, helping the rand stage a tentative recovery.Still, the South African currency remains ...


 



 
Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln