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Dollar rallies to two-month high, euro retreats  LONDON: The dollar rose to a two-month high against a basket of currencies on Wednesday as investors looked past US President Barack Obama's re-election to the country's fiscal problems.   Analysts said the dollar would benefit from safe-haven flows amid mounting worries over the looming US 'fiscal cliff'.   The world's largest economy risks an economic slowdown and policy paralysis over a sharp budget tightening due to start next year unless a deal is reached in Congress to avert it.   The dollar was up 0.3 percent against its basket at 80.863, its highest in two months.   The euro fell to a two-month low against the dollar, hurt by grim economic forecasts for the euro zone and continued sovereign debt-related worries in Greece and Spain.   The common currency fell to $1.2749, retreating from a session high of $1.28765 as weaker-than-expected German economic data also weighed.   The currency faced further pressure ahead of a Greek parliamentary vote on austerity measures ...


Swiss forex reserves dip for first time in 8 months  ZURICH: Switzerland's foreign exchange reserves fell for the first time in eight months in October and price pressures were low, giving its central bank more ammunition to extend its cap on the franc.   The Swiss National Bank held 424.38 billion Swiss francs ($449.70 billion) compared with 429.48 billion in September, according to data published on Thursday.   The reserves declined for the first time since February, trimming the central bank's currency holdings to the equivalent of 72 percent ...

Ukraine forex reserves fall to $26.8bn in October  KIEV: Ukraine's foreign currency reserves fell to $26.812 billion as of Oct. 31 compared to $29.255 billion on Sept. 30, the State Statistics Service said on Wednesday.   Ukraine's central bank intervenes in the local interbank market regularly, selling dollars to keep the hryvnia pegged at about 8 per dollar.   Copyright Reuters, 2012

Yuan closes firmer as dollar sags after US election  SHANGHAI: China's yuan closed stronger near the strong-side limit of its trading range on Wednesday, supported by a dollar that sagged in reaction to the re-election of US President Barack Obama.   The central bank set its midpoint at 6.3067 per dollar, slightly stronger than Tuesday's fix of 6.3078.   Spot yuan closed at 6.2437 per dollar, one pip above the intra-day strong-side limit.   The exchange rate can rise or fall 1 percent from the midpoint each day.   However, traders said ...

Euro pares gains after German industry output data  LONDON: The euro pared gains on Wednesday after data showed a bigger-than-expected drop in German industrial output, raising concerns about the problems facing Europe's largest economy.   The euro fell to $1.2823 from around $1.2842 before the data, with traders saying stop loss sell orders were triggered on the break below $1.2825.   However, it remained just in positive territory, trading up 0.1 percent on the day.   German industrial output dropped by 1.8 percent on the month in September, coming ...

Swiss franc gains vs dollar, markets eye more loose US policy  ZURICH: The Swiss franc strengthened against the dollar, with the greenback broadly on the back foot as US President Barack Obama won re-election, ensuring that the Federal Reserve's quantitative easing will stay in place.   Republican challenger Mitt Romney conceded the election to Obama early on Wednesday morning after a bitterly fought battle.   Due to the cap of 1.20 per euro set by the Swiss National Bank on the safe-haven unit a year ago to prevent a recession, ...

Won leads gains as Obama SINGAPORE: The South Korean won hit a 14-month high on Wednesday, leading gains in emerging Asian currencies, as the re-election of US President Barack Obama is expected to maintain accommodative policies which will keep funds flowing to the region.   Offshore macro funds and domestic exporters including shipbuilders chased the won although the foreign exchange authorities were suspected of stemming the local unit's strength, dealers said.   The Taiwan dollar hit a three-week high on inflows of foreign financial ...


 



 
Index Closing Chg%
Arrow DJIA 16,563.30 1.88
Arrow Nasdaq 4,369.77 2.09
Arrow S&P 1,930.67 2.00
Arrow FTSE 6,730.11 0.64
Arrow DAX 9,407.48 1.94
Arrow CAC-40 4,246.14 1.53
Arrow Nikkei 15,620.77 0.16
Arrow H.Seng 24,756.85 0.10
Arrow Sensex 25,894.97 0.74





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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln