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Egypt's pound steady on official auction, slightly weaker on black market CAIRO: Egypt's central bank kept the pound steady at 7.53 pounds to the dollar at a foreign exchange auction on Wednesday, and the pound remained marginally weaker albeit relatively stable on the black market.The central bank said it offered $40 million on Wednesday and sold $38.3 million at a cut-off price of 7.5301 pounds per dollar.The central bank has now kept the official exchange rate steady for more than a month after letting the pound weaken in an effort to wipe out black market trading.The pound was slightly weaker on the parallel market, with one trader quoting a rate of 7.66 pounds compared to Monday's 7.65 pounds.Analysts say the central bank may have decided to stabilise the currency to stop it from depreciating too much and because it hopes other recent measures will have an impact.The central bank cancelled a regular dollar auction on Sunday and instead sold $420 million ...


Kenyan shilling firms after banks sell dollars, stocks fall NAIROBI: Kenya's shilling firmed on Wednesday after banks sold dollars to unwind their long positions in the face of scant demand so far this week, while stocks were down for a second day.At close of trade at 1300 GMT, commercial banks quoted the shilling at 91.15/25 to the dollar, compared with Tuesday's close of 91.25/35. It firmed to an intra-day high of 91.00/20 during the session before reversing some gains."We have seen modest gains on ...

C$ stronger after Bank of Canada holds rates TORONTO: The Canadian dollar strengthened to a session high against its U.S. counterpart on Wednesday after the Bank of Canada kept interest rates unchanged and said it was satisfied with how the market and the economy had reacted to its surprise cut in January.The Canadian dollar firmed to $1.2449 to greenback, or 80.32 U.S. cents, much stronger than just prior to the announcement and stronger than Tuesday's finish at C$1.2490, or 80.06 U.S. cents.Copyright Reuters, ...

Sterling hits 3-week low as Britain's services sector growth lags US LONDON: Sterling fell to a three-week low against the dollar on Wednesday after growth in Britain's dominant services sector eased in February lagging the United States where growth picked up modestly last month.The UK Markit/CIPS UK Services Purchasing Managers' Index (PMI) slipped more than expected to 56.7, from 57.2 in January, and well below a Reuters forecast of 57.5. For the United States, the index rose to 57.1, its highest level since October. The reading ...

South Africa's rand falls to three week-low on economy woes JOHANNESBURG: South Africa's rand hit a three-week low on Wednesday as the U.S. currency strengthened and the deputy central bank governor warned domestic economic growth continued to disappoint.At 1520 GMT the rand was trading 0.75 percent weaker at 11.8500 to the dollar, its weakest level since Feb 12.Deputy Central Bank Governor Francois Groepe said on Wednesday economic growth was disappointing, but the bar for South Africa to ease monetary policy remained high, with underlying inflationary ...

Zloty rebounds as Poland says big cut ended rate easing BUDAPEST: The zloty jumped and Central European government bonds slipped on Wednesday after the Polish central bank said a 50-basis-point cut in interest rates it delivered earlier in the day would end its monetary easing cycle.The bank's meeting caused wobbles in the region's currency and government bond markets. The cut, which lowered the main rate to a record low 1.5 percent, was twice the size most analysts had forecast.It weakened the zloty by 0.3 percent ...

Dollar gets boost from US data as euro sags below $1.11 NEW YORK: The dollar climbed to a fresh 11-1/2-year high on Wednesday, boosted by strong U.S. private-sector jobs growth ahead of the launch of quantitative easing by the European Central Bank.The dollar hit its highest since September 2003 against a basket of currencies and was last up 0.6 percent at 95.958. Earlier it struck a high of 96.059.The ADP National Employment Report showed a gain of 212,000 private-sector jobs. Economists surveyed by Reuters had forecast ...


 



 
Index Closing Chg%
Arrow DJIA 17,856.78 1.54
Arrow Nasdaq 4,927.37 1.11
Arrow S&P 2,071.26 1.42
Arrow FTSE 6,911.80 0.71
Arrow DAX 11,550.97 0.41
Arrow CAC-40 4,964.35 0.02
Arrow Nikkei 18,971.00 1.17
Arrow H.Seng 24,164.00 0.12
Arrow Sensex 29,448.95 0.23







ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln