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Sterling a whisker away from $1.70 as BoE meets LONDON: Sterling held firm on Wednesday, hovering around its highest level in nearly five years against the dollar amid increased expectations among investors that the Bank of England may have to tighten policy sooner rather than later. The BoE's monetary policy committee starts a two-day meet on Wednesday, with a slew of upbeat activity data and a rise in house prices piling pressure on it to lift interest rates from record lows of 0.5 percent. Those expectations have widened interest rate differentials between British government bond yields over their US and euro zone counterparts, drawing more investors and speculators to the British pound. Sterling was firm at $1.6980, having risen to $1.6996 on Tuesday with bulls targeting $1.70, a level last seen in August 2009. Sterling, on a trade-weighted basis, rose to its highest since late 2008 of 86.9, and up nearly 12 percent since lows struck in March 2013. ...


Kenyan shilling eases, seen losing more ground NAIROBI: The Kenyan shilling eased slightly against the dollar on Wednesday due to demand for the US currency in the energy sector and traders said they expected it to remain under pressure after weekend bomb attacks unsettled market confidence.At 0820 GMT, commercial banks quoted the shilling 87.00/10 to the dollar, compared with Tuesday's close of 86.95/87.05. In early trade the shilling weakened to touch 87.05/15."It's losing ground a bit on importer demand. There's a bit ...

Sri Lankan rupee steady amid upward pressure; stocks up COLOMBO: The Sri Lankan rupee traded flat on Wednesday in thin trade and dealers expect the currency to be stable in the near term until private sector credit demand and imports pick up. The rupee was at 130.60/65 per dollar by 0736 GMT, little changed from Tuesday's close of 130.60/61. "There was nothing much happening and we are awaiting to see the direction. The rupee is under appreciation pressure, but no big movement is taking ...

Kiwi rattled by central bank warning, dollar steadies LONDON: The New Zealand dollar was the main mover on developed currency markets overnight, falling more than half a cent after its central bank warned it could intervene against a currency boosted by rises in official interest rates. The Reserve Bank of New Zealand has led its peers this year in raising interest rates, driving a 13 percent rally for the kiwi against the US dollar since last August. The US dollar's failure so far ...

India rupee hits 1 month high, but more gains seen capped MUMBAI: The Indian rupee strengthened to above 60 per dollar on Wednesday boosted by gains in other Asian currencies and corporate greenback sales, although traders said broader gains would be capped ahead of national election results next week. The partially convertible rupee was trading at 60.00/01 per dollar at 10:20 a.m. (0450 GMT), after hitting as much as 59.96, its strongest since April 9 and above its close of 60.11/12 on Tuesday. Traders said some ...

Dollar wallowing close to recent lows as Yellen awaited TOKYO/SYDNEY: The US dollar languished close to six-month lows against a basket of major currencies on Wednesday, as investors braced for the possibility that dovish comments from Federal Reserve Chair Janet Yellen could further undermine the greenback.Yellen is widely expected to hammer home the Fed's dovish position at her congressional hearings on Wednesday and Thursday, even after last Friday's upbeat US payrolls report."She might be more confident about the US labor market, but I think ...

South Korea won climbs to near 6-year high, stocks on losing streak SEOUL: The South Korean won rose to a fresh nearly six-year high on Wednesday morning after a long public holiday as the dollar eased, while local stocks extended losses to a six-week trough.South Korean financial markets were closed on Monday and Tuesday for public holidays.The local currency was quoted at 1,027.0 against the dollar as of 0237 GMT, up 0.3 percent from Friday's onshore close at 1,030.3. The won hit as high as 1,026.0, the ...


 



 
Index Closing Chg%
Arrow DJIA 18,162.99 0.67
Arrow Nasdaq 5,106.59 1.47
Arrow S&P 2,123.48 0.92
Arrow FTSE 7,033.33 1.21
Arrow DAX 11,771.13 1.26
Arrow CAC-40 5,182.53 1.95
Arrow Nikkei 20,472.58 0.17
Arrow H.Seng 28,081.21 0.60
Arrow Sensex 27,564.66 0.12





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln