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Dollar slides after weak US retail sales suggest dovish Fed NEW YORK: The US dollar hit a more than three-month low against a basket of major currencies on Wednesday after weaker-than-expected US retail sales data for April supported expectations that the Federal Reserve would wait until later to hike rates. US retail sales were unchanged in April as households cut back on purchases of automobiles and other big-ticket items. The data suggested the economy was struggling to make a strong rebound after barely growing in the first quarter, when harsh winter weather and low energy prices weighed on the US economy. In addition to the retail sales data, other information released Wednesday showed the 10th straight month of declining import prices in April."So much for the cold-weather snapback," said Richard Franulovich, senior currency strategist at Westpac in New York. "The Fed can afford to be very patient." Traders are watching US economic data closely for signs of when the Fed ...

Latin American currencies gain on weak US data SAO PAULO: Latin American currencies strengthened on Wednesday following disappointing US economic data, though Brazil's real stayed anchored near the key 3-per-dollar level.Equities markets were mixed, with MSCI Latin American stock index edging slightly higher, though Brazil's Bovespa index dropped for a second straight day.Data on Wednesday showed US retail sales were flat in April, indicating the economy was struggling to rebound strongly after barely growing in the first quarter.Disappointing economic data from the US ...

Euro ticks up despite Greek debt worries TOKYO: The euro rose Wednesday on cautious hopes for the eurozone economy, even as Greece admitted that it raided an emergency account to pay off an IMF loan, aggravating concerns about Athens' finances.In Tokyo, the European single currency strengthened to $1.1250 and 134.96 yen from $1.1213 and 134.44 yen in New York.The dollar edged up to 119.96 yen from 119.90 yen.An improving eurozone inflation picture suggested the European Central Bank may wrap up a quantitative ...

South Africa's rand firmer on manufacturing data, bonds weaken JOHANNESBURG: South Africa's rand strengthened against the dollar on Tuesday after manufacturing unexpectedly grew in March, while bond yields continued to climb affected by the Greek debt crisis.At 1550 GMT the local unit inched 0.24 percent firmer to 12.0750 per dollar, having traded weaker for most of the session around a two-week low of 12.1490.Data from Statistics SA showed manufacturing production expanded by a more than expected 3.8 percent year-on-year in March, helping to offset ...

Dollar tumbles against euro on spike in Bund yields NEW YORK: The US dollar slumped against the euro and Swiss franc on Tuesday after a spike higher in German Bund yields overshadowed a similar rise in U.S. Treasury yields and generated demand for the European currencies.German 10-year Bund yields shot up 22 basis points from Monday's session low of 0.52 percent to a session high of 0.74 percent on Tuesday. While benchmark 10-year U.S. Treasury yields hit six-month highs of 2.37 percent, analysts said ...

Sterling races to 5-month high on robust UK data, awaits BoE report LONDON: Sterling hit a five-month high on Tuesday, rising past $1.57 against the dollar after better-than-expected industrial output data bolstered the view that the British economy is outpacing many of its developed world peers.Industrial output rose 0.5 percent in March -- the strongest growth since September and above economists' forecasts of no change -- after inching up 0.1 percent in February, the Office for National Statistics said. That led to talk that first-quarter growth data ...

Kenyan shilling gains slightly on central bank dollar sale NAIROBI: Kenya's shilling recovered some of its losses on Tuesday when the central bank sold dollars to the interbank market, traders said, and the bank warned it would act to curtail speculation in the currency.Traders at commercial banks said the central bank sold an undisclosed amount of dollars after the shilling weakened to lows last seen in November 2011. The intervention buoyed the shilling, although it remained at three-year lows, where it has traded for ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln