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Dollar firmer on rate differentials LONDON: The dollar extended gains against a basket of currencies on Monday to trade near its highest in over two weeks, boosted by expectations that US monetary stimulus will soon be scaled back.Federal Reserve Chairman Ben Bernanke said last Wednesday that the US central bank could taper its monthly $85 billion in asset purchases if the economy continues to improve.The dollar also gained support from risks of a credit crunch in China, which undermined growth-linked currencies like the Australian dollar.The Fed chief's remarks helped push up the benchmark 10-year US Treasury yield to its highest in almost two years in Asia on Monday with interest rate differentials moving in favour of the dollar and boding well for it.The dollar index, was up 0.4 percent at 82.661 after rising as high as 82.742, its highest since June 5. The gains built on last week's 2.2 percent rally, its biggest weekly rise ...


Yuan ends down for 3rd day, slight weakening expected SHANGHAI: The yuan closed lower versus the dollar on Monday for the third straight session, extending a recent mild downtrend amid slowing capital inflows into China, traders said.Dollar sales that had helped push up the Chinese currency in April and May are ebbing, which may herald a slight yuan weakening in coming weeks, traders said.Spot yuan closed at 6.1451 versus the dollar, down 0.2 percent from Friday's close after the People's Bank of China (PBOC) ...

Dollar extends Fed rally in Asian trading TOKYO: The dollar on Monday extended a rally stoked by signs the US Federal Reserve would start winding up its massive stimulus drive later this year as investors flocked back to the greenback.In Tokyo trade, the US unit fetched 98.41 yen from 97.87 yen in New York on Friday, continuing its march back toward the psychologically key 100-yen mark."Behind this US dollar lift are repatriation inflows from emerging markets as investors move to protect profits ...

Yuan slips vs dollar, slight weakening expected SHANGHAI: The yuan edged lower versus the dollar on Monday, extending a recent mild downtrend amid slowing capital inflows into China, traders said.Dollar sales that had helped push up the Chinese currency in April and May are ebbing, which may herald a slight yuan weakening in coming weeks, traders said.Spot yuan was trading at 6.1374 versus the dollar at midday, down 0.05 percent from Friday's close after the People's Bank of China (PBOC) fixed a ...

China cash squeeze caused by shadow banking: Xinhua SHANGHAI: There is ample liquidity in China and the latest spike in money market rates was a result of market distortions caused by widespread speculative trading and shadow financing, state news agency Xinhua said in a commentary on Sunday.China's central bank faced down the country's cash-hungry banks on Friday, letting interest rates again spike to extraordinary levels of some 25 percent for some banks as it stepped up the pressure to contain rampant informal lending.Comments ...

Fed plan sets dollar on course for prolonged strength LONDON: The prospect of Federal Reserve stimulus being wound down will underpin the dollar for the next few months as the lure of higher US yields drives traders to eschew other currencies in favour of the greenback.The Fed expects further gains in labour markets, supported by moderate growth that picks up over the coming quarters as near-term fiscal restraint diminishes, which will allow it to take its foot off the gas of monetary accommodation.If economic ...

Dollar rally pauses but robust outlook intact LONDON: The dollar retreated from a two-week high against a basket of major currencies on Friday but was still likely to clock its best weekly gains in a year on expectations of an eventual end to ultra-loose US monetary policy.After two straight days of sharp gains, some speculators booked profits on the dollar's rise. That helped the euro to recover from a two-week low struck on Thursday.But the euro's gains looked shaky as interest rate ...


 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95






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