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India's rupee gains after bank intervention MUMBAI: India's rupee rose marginally against the dollar on Tuesday after the central bank hiked short-term interest rates to shore up the beleaguered currency and reduce speculation.The partially-convertible Indian currency gained in opening trade to touch 59.42 to the greenback at 0515 GMT, from a previous close of 59.85 rupee level.The Reserve Bank of India announced on Monday night that it was raising the marginal standing rate used to lend to commercial banks when there is a shortage of funds in the market.It also raised the bank rate at which it lends to commercial banks in a sign deposit rates should be increased."The rupee will appreciate further from here," said Param Sarma, chief executive of NSP Forex, on Tuesday, expecting levels of 58.5 by next week.The rupee has been the worst performing major Asian currency this financial year, dropping to a record low of 61.20 to the dollar last week.The ...

Dollar up from selloff, Bernanke testimony to set outlook NEW YORK: The dollar rose against the yen on Monday as traders said a selloff last week was overdone because the Federal Reserve is still likely to be the first among major central banks to move away from ultra-loose monetary policy.The greenback's gains were trimmed after data showing US retail sales rose less than expected in June, thereby denting expectations of a reduction in stimulus by the Fed this year. But the impact was offset ...

C$ weaker as eyes turn to Bank of Canada TORONTO: The Canadian dollar weakened against the US dollar on Monday as a relief rally spurred by Chinese growth faded and investors geared up for a possible change in tone from the Bank of Canada, which may also downgrade Canada's economic growth outlook.The Bank of Canada is due to announce its first interest rate decision under new Governor Stephen Poloz and also release its quarterly Monetary Policy Report (MPR) on Wednesday, followed by a news ...

Dollar edges higher despite weak US retail sales NEW YORK CITY: The dollar Monday continued to regain strength after last week's retreat, even as US retail sales figures disappointed.The euro slipped to $1.3064 at 2100 GMT from $1.3066 at the same time Friday.The dollar also gained on the Japanese yen, trading at 99.82 compared with 99.29.The euro rose against the yen, buying 130.41 of the Japanese currency compared with 129.73 late Friday.The dollar also advanced modestly against the British pound and the Swiss ...

Sterling off lows, dovish BoE stance to check gains LONDON: Sterling recovered from lows on Monday as the dollar lost ground on disappointing US retail sales data, but gains will be capped by expectations that monetary policy in Britain will remain easy in the near term.The Bank of England (BoE) will release the minutes of its latest Monetary Policy Committee meeting on Wednesday. They are likely to retain a dovish bias after the Bank said two weeks ago that a recent rise in UK ...

Sterling steady, investors say BoE minutes to cement bearish tone LONDON: Sterling was steady on Monday, holding above recent lows against the dollar and the euro, with investors wary of buying the pound while monetary policy in Britain is expected to remain easy.The Bank of England (BoE) will release the minutes of its latest Monetary Policy Committee meeting on Wednesday. They are likely to retain a dovish bias after the Bank said two weeks ago that a recent rise in UK gilt yields was unwarranted.Traders ...

Dollar recovers, US retail sales, Bernanke testimony key LONDON: The dollar rose on Monday amid anticipation of improved US sales data which could hasten moves by the country's central bank to wind down its stimulus programme.The euro slipped against the dollar, vulnerable to re-emerging worries about both core and peripheral euro zone economies.Gains in the US currency were muted, however: market participants refrained from aggressively betting on further dollar strength ahead of Fed chief Ben Bernanke's congressional testimony on July 17-18, which will ...


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

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