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China's yuan broadly steady on strong fixing HONG KONG: China's yuan held steady against the dollar on Wednesday after the central bank set its daily midpoint at a fresh 10-month high, an encouraging sign of stability in the Chinese unit amid fears of fallout from a currency crisis in Russia.Safe-haven assets were in demand with yields on British, German and Japan sovereign debt hitting record lows while investors retreated from emerging market currencies.Fresh economic data this week indicate Chinese economic growth may be stabilizing at lower levels and raising expectations the yuan is unlikely to weaken sharply.The People's Bank of China (PBOC) fixed the official midpoint at 6.1137 per dollar, its strongest level since Feb. 19 and 0.07 percent higher from Tuesday's fixing of 6.1182.Spot yuan changed hands at 6.1937, broadly unchanged from Tuesday's close of 6.1903."I expect the yuan to remain steady or maintain a slightly appreciating bias next year as the economic growth stabilises and ...

Dollar pulls off lows but under pressure ahead of Fed TOKYO: The dollar nursed its losses in Asian trading on Wednesday, pulling away from lows hit overnight on skidding oil prices, Russia's financial crisis, and speculation that the Federal Reserve might take a more cautious tone on monetary policy.Data released earlier on Wednesday showed Japan's exports rose 4.9 percent in November, falling short of forecasts despite the weakening yen, which helped the dollar regain some of the ground it lost overnight against its Japanese counterpart. ...

Indian rupee, bonds continue to fall; foreign fund flows key MUMBAI: The rupee hit a new 13-month low on Wednesday, while bonds and shares fell to their weakest this month on concerns a brewing financial crisis in Russia would spark foreign selling even in India, one of the star performers among emerging markets this year.Overseas investors sold Indian shares worth $196.56 million on Tuesday, their biggest daily net sales since Oct. 17, and a sixth consecutive day of selling, according to exchange data.Foreign investors also ...

Asian currencies dampened by risk aversion on Russia turmoil  SINGAPORE: Emerging Asian currencies put in a mixed performance against the dollar on Wednesday as sentiment remained cautious in the wake of sliding oil prices and financial market turmoil in Russia.Worsening global risk sentiment has weighed on emerging Asian currencies this week, with Indonesia's rupiah sliding to a 16-year low of 12,930 versus the dollar on Tuesday and India's rupee hitting a new 13-month low on Wednesday."I think it's just a calm before the storm," ...

Kenyan shilling steady, bond sale, subdued demand seen helping  NAIROBI: Kenya's shilling firmed on Wednesday, with traders expecting more gains, helped by offshore investor flows to buy government bonds later in the day and subdued dollar demand as companies close down for the holidays.At 0857 GMT, commercial banks quoted the shilling at 90.40/60 to the dollar, compared with Tuesday's close of 90.55/65.The central bank is due to auction a new two-year Treasury bond and a re-opened 15-year bond worth a total 20 billion shillings ...

Dollar pulls away from lows as it awaits the Fed LONDON: The dollar edged higher on Wednesday after falling the previous day, when a Russian currency crisis took hold and speculation grew that the Federal Reserve might take a more cautious tone on monetary policy.After skidding oil prices helped Russia's rouble to plunge as much as 25 percent on Tuesday, an uneasy calm took hold, as Russia's finance ministry said it had started selling foreign currency from its leftover stock. That helped the rouble to ...

Turkish lira recovers amid daily tightening, forex support ISTANBUL: Turkey's lira recovered on Wednesday after the central bank reassured the market that monetary tightening would continue until inflation improves.The currency hit record lows on Tuesday due to an emerging market sell-off and domestic political tensions.Turkey's central bank governor, Erdem Basci, said on Wednesday the bank would keep its monetary policy tight until there was a clear improvement in the inflation outlook.The central bank sets interest rates monthly, but is able to tweak the ...


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