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Turkish lira hits fresh record on renewed worries on political pressure ISTANBUL: Turkey's lira plumbed a new record low against the US dollar on Wednesday, after a central bank presentation failed to assuage investors concerns about its appetite to defy political pressure and lift rates. A day after the bank kept its rates steady on Tuesday, it told economists in a presentation that it had started to raise its policy rate in line with the US Federal Reserve's hikes, reflecting the impact of political pressure from Ankara. "Generally speaking, the hikes in the policy rate in the coming months will be tied to Fed rate hikes. Hence the steps taken by the central bank in the coming period will be determined by the Fed," Muammer Komurcuoglu, an economist at Is Invest, who attended the meeting, told Reuters. The lira fell to 2.9070 to the dollar, a new record. Copyright Reuters, 2015

Dollar edges down as traders await Fed lift-off signal LONDON: The dollar edged down across the board on Wednesday, with investors cautious ahead of US inflation data and minutes from the Federal Reserve that could signal whether the central bank is on track to raise interest rates next month. As an erratic Chinese stock market stoked fears about the stability of the world's second-largest economy, investors sought refuge in the safe-haven Swiss franc, which hit its highest level for almost two weeks against the ...

Sri Lankan rupee ends firmer as state-run bank cuts dollar peg COLOMBO: The Sri Lankan rupee ended higher on Wednesday after a state-run bank, through which the central bank usually directs the market, reduced the currency's peg against the dollar by 10 cents to allow the exchange rate to appreciate to 133.90. The market had expected the central bank to allow a slight depreciation in the rupee, in line with other regional currencies that have declined against the dollar. The rupee ended at 133.90 per dollar, ...

Dollar up on rate hike hopes, baht falls after Bangkok blast TOKYO: The dollar rose against the yen Tuesday as strong housing data bolstered hopes for a US interest rate hike, while the Thai baht slumped to a fresh six-year low after a deadly Bangkok bombing.In Tokyo, the greenback edged up to 124.44 yen, against 124.41 yen in New York, after the National Association of Home Builders said homebuilder sentiment hit its highest level since the recession ended in 2009. The positive news come ahead of ...

South Africa's rand slips before July inflation report, Fed minutes JOHANNESBURG: South Africa's rand weakened on Monday as pressure on the currency mounted before local inflation numbers and minutes of a policy meeting by the U.S. Federal Reserve.At 1530 GMT, the rand slipped 0.44 percent to 12.8825 per dollar, up from the 14-year low of 12.9225 reached earlier in the session.The rand tumbled over 2 percent against the dollar last week, after a surprise decision by China's central bank to weaken its currency. The rand ...

Kenyan shilling weakens as liquidity improves NAIROBI: The Kenyan shilling weakened on Monday as liquidity increased in domestic money markets after a new monthly liquidity requirement cycle kicked in.The main share index eked out slight gains.At the 1300 GMT close of trade, commercial banks posted the shilling at 102.75/85 per dollar, compared with Friday's close of 102.15/25."Liquidity is back," said a trader at one commercial bank.The weighted average lending rates on the overnight interbank market dropped to 20.9107 percent on Friday ...

Dollar gains on Fed rate outlook, dimming yuan scare NEW YORK: The dollar advanced on Monday, rising against a basket of currencies for the third straight session, as traders focused on potential US interest rate hikes and shook off worries about a China-led "currency war." The dollar index hit a one-month low last week after the People's Bank of China unexpectedly devalued the yuan, dampening expectations that the US Federal Reserve will raise interest rates in September. But after the PBOC set the yuan ...


Index Closing Chg%
Arrow DJIA 16,058.35 2.84
Arrow Nasdaq 4,636.11 2.94
Arrow S&P 1,913.85 2.96
Arrow FTSE 6,058.54 3.03
Arrow DAX 10,015.57 2.38
Arrow CAC-40 4,541.16 2.40
Arrow Nikkei 18,165.69 3.84
Arrow H.Seng 21,185.43 2.24
Arrow Sensex 25,696.44 2.23

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln