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Dollar firms before Fed verdict, all eyes on Yellen debut LONDON: The dollar rose against the yen and euro on Wednesday, drawing comfort from expectations the Federal Reserve will further unwind monetary stimulus, looking beyond the impact on the economy of a harsh winter. Some trepidation before Janet Yellen's inaugural policy review as Federal Reserve chief will keep gains muted, traders said. The Fed is widely expected to reduce the size of its monthly bond purchase programme by a further $10 billion at the end of its two-day policy meeting. Yellen, widely regarded as a dove, is due to address a news conference later in the day.Most are focused on the Fed's forward guidance on policy. Most expect it to assure investors that rate hikes are a long way off despite the unemployment rate easing faster than expected. The dollar edged up 0.2 percent to 101.625 yen, staying above a one-month low of 101.20 yen hit on March 3. The ...

Sterling hooked on jobs numbers, budget in background LONDON: Sterling inched higher on Wednesday on a busy day for the UK economy and government policy, which holds the risk of a break lower for a currency that increasingly looks to have peaked for now. The pound, the biggest gainer among developed world currencies in the second half of last year, hit a three-month low against the euro on Tuesday, hit by talk of outflows to pay for a European acquisition by British telecoms ...

Sri Lankan rupee firmer on remittances; stocks down COLOMBO: The Sri Lankan rupee traded a tad firmer on Wednesday as inflows from inward remittances outpaced thin importer dollar demand, dealers said. The spot rupee was at 130.55/60 per dollar at 0609 GMT, compared with Tuesday's close of 130.58/64. "Lack of importer demand was the main reason. There were normal remittances which helped the currency to appreciate," said a currency dealer on condition of anonymity. Contrary to market expectations, the local currency has been ...

China's yuan falls to near one-year low as economy worries mount HONG KONG: China's yuan fell beyond 6.20 to the dollar on Wednesday for the first time since April last year amid market speculation the central bank will keep the currency weak as economic growth slows down.The yuan has tumbled 0.8 percent this week after the People's Bank of China (PBOC) doubled the daily trading band for the currency to 2 percent from the mid-point set each day by the central bank.Spot yuan briefly fell to ...

South Africa's rand, bonds hold steady ahead of data JOHANNESBURG: South Africa's rand steadied against the dollar early on Wednesday with investors wary of taking strong positions before inflation data and the Federal Reserve's interest rate meeting. The rand tracked the sideways move on euro/dollar to trade at 10.7455 to the dollar by 0633 GMT, little changed from Tuesday's close in New York at 10.7395. South Africa is releasing keenly awaited February consumer inflation data at 0800 GMT, which will give clues about interest ...

Dollar rises in Asia ahead of Fed meeting TOKYO: The dollar edged cautiously higher against the yen and euro in Asia on Wednesday as investors awaited the outcome of the US Federal Reserve's monetary policy meeting, the first under new chair Janet Yellen. Investors were hoping for some guidance from the bank's new head on her plans for interest rates after the conclusion of the meeting later Wednesday. Analysts said that the dollar and euro showed resilience amid easing fears that the crisis ...

Soft yuan, Fed caution weigh on Asia FX; baht outperforms SEOUL: Most emerging Asian currencies fell on Wednesday, pressured by a weaker Chinese yuan and caution before the Federal Reserve's policy decision due later in the day.Thailand's baht, however, hit a three-month high as the government lifted a state of emergency in Bangkok, taking a step to restore some confidence as anti-government protests subside.The Philippine peso fell to its weakest level in nearly five weeks on bond outflows and corporate dollar demand. The South Korean ...


Index Closing Chg%
Arrow DJIA 17,776.12 1.11
Arrow Nasdaq 4,900.89 0.94
Arrow S&P 2,067.89 0.88
Arrow FTSE 6,773.04 1.72
Arrow DAX 11,966.17 0.99
Arrow CAC-40 5,033.64 0.98
Arrow Nikkei 19,206.99 1.05
Arrow H.Seng 24,900.89 0.81
Arrow Sensex 27,957.49 0.07

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 20, 2015
Reserves $16.132 bln