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Euro dives on debt worries, Norway's crown hammered LONDON: The euro fell along with dramatic losses for higher-yielding currencies like the Norwegian crown and Australian dollar on Thursday as a sell-off of Spanish and Italian debt added to a growing sense of panic in financial markets.Another day of turmoil on European stocks was spurred by a spread of concerns from Greece to other debt-laden southern European nations, with Spain struggling to place all of a planned sale of bonds. U.S. stock futures also indicated a weak opening for Wall Street.Currency investors' chief response was to head for the traditional security of the dollar and yen and the Aussie and Norwegian crown both fell by more than 1.5 percent against the U.S. currency."It was a bit of a surprise yesterday given the action on stocks that the Aussie and the other carry currencies held up so well," said Chris Turner, head of FX strategy with ING in London."Today we're ...


Rouble's plunge shows Russia's reliance on Western money MOSCOW: A steep plunge in the rouble, caused by sanctions over the Ukraine crisis and falling oil prices, has underlined Russia's heavy dependence on Western finance to balance its dollar-thirsty economy.For all President Vladimir Putin's anti-Western bravado and talk of shifting Russia's economic ties to Asia, the last few weeks show the opposite - that the cogs of the economy are oiled by financial flows from the West.A fall in foreign exchange inflows has prompted ...

Sterling held back by dampened UK rate hike expectations LONDON: Sterling fell against the dollar on Thursday, moving back towards the previous session's 11-month low, on expectations that a rise in British interest rates will be delayed.The dollar stabilised after a sharp sell-off on Wednesday following weaker-than-expected retail sales data. That pushed back expectations for a rate rise in the United States into 2016 and investors cut favourable dollar bets.Sterling was down 0.3 percent against the dollar at $1.5975 , having hit $1.5875 on ...

Sri Lanka rupee forwards edge up on mild dollar buying COLOMBO: Sri Lankan rupee forwards traded a tad firmer on Thursday as tepid dollar purchases and mild exporter conversions helped the currency edge up.Three-day forwards or spot next was traded at 130.80/85 per dollar at 0655 GMT, compared to Wednesday's close of 130.90/131.00.The spot currency was not traded on Thursday, currency dealers said."There was no restriction from the central bank, but nobody wants to deal with the spot currency," a dealer said on condition of ...

Dollar creeps back as growth worries dominate LONDON: The dollar recovered a third of a percent in value against other major currencies on Thursday after recording its steepest daily fall against the euro in well over a year in the previous session. A day of carnage on markets on Wednesday was marked by a return of the concerns over Greece which have haunted Europe for five years and some much poorer than expected US data, all adding to worries over global growth. ...

Kenyan shilling holds steady against the dollar NAIROBI: The Kenyan shilling held steady against the dollar on Thursday and traders said payment of monthly taxes by firms could curb liquidity and offer mild support for the currency.At 0715 GMT, the shilling was trading at 89.10/20, unchanged from Wednesday's close.A trader with a leading commercial bank said that companies paying their monthly taxes this week are creating support for the shilling. "But it's a temporary support," he said.The shilling could come under pressure ...

Dollar under pressure in Asia after US sell-off TOKYO: The dollar struggled against the yen in Asia on Thursday after tumbling in New York trade in response to a weak batch of US data that has sparked fears about the world's number one economy.In the afternoon Tokyo trade, the dollar bought 106.19 yen, up from 105.91 yen in New York, but sharply lower than 107.33 yen in Tokyo earlier Wednesday. At the start of the month, the greenback broke 110 yen for the ...


 



 
Index Closing Chg%
Arrow DJIA 16,614.81 1.31
Arrow Nasdaq 4,419.48 2.40
Arrow S&P 1,941.28 1.96
Arrow FTSE 6,372.33 1.68
Arrow DAX 8,886.96 1.94
Arrow CAC-40 4,081.24 2.25
Arrow Nikkei 14,804.28 2.03
Arrow H.Seng 23,088.58 0.08
Arrow Sensex 26,575.65 0.55





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln