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Egyptian pound strengthens in black market after volatile week CAIRO: Egypt's pound held steady at a central bank dollar sale on Thursday, while black market prices were volatile but generally stronger, traders said.The bank offered $40 million on Thursday and said it had sold $37.6 million at a cut-off price of 7.1401 pounds per dollar, unchanged from its last sale on Wednesday.The price of dollars at the thrice-weekly auctions has stayed in a very tight range since the beginning of June, after the bank allowed the pound to weaken in May.The rates at which banks are allowed to trade dollars are determined by the results of central bank sales, giving the bank effective control over official exchange rates.In the unofficial market, the pound was trading at 7.55 according to one trader, who said he had sold dollars for 7.57 pounds on Wednesday. Another trader said he was trading pounds at 7.65, stronger than his Wednesday rate of 7.67.The strengthening ...


Indian rupee recoups losses to end nearly flat MUMBAI: The Indian rupee ended nearly flat on Thursday after a fall to a nine-month low had sparked mild intervention from the central bank, as emerging market currencies were hit by a weak reading in a private survey of China's manufacturing.The China flash HSBC/Markit manufacturing purchasing managers' index (PMI) fell to a six-month low in November, with output contracting for the first time in six months.The falls in the rupee are raising the prospect of ...

Yen hits fresh lows on BoJ easing speculation TOKYO: The yen drifted lower in Asia on Thursday, hitting multi-year lows against the dollar and euro as investors bet on further Bank of Japan monetary easing measures.The dollar rose to 118.15 yen in midday Tokyo trade, from 118.01 yen in New York and hovering around its highest level since August 2007.The euro bought 148.24 yen against 148.11 yen in US trade, the highest level since October 2008.The common European currency slipped to $1.2536 against ...

C$ weakens after Keystone; US Fed minutes in focus TORONTO: The Canadian dollar weakened against the US dollar on Wednesday, driven by overnight flows out of Asia and after the US Senate voted down a bill that would force the approval of the Keystone XL oil pipeline.The US dollar touched a seven-year high against the yen ahead of the Federal Reserve's October meeting minutes, due later on Wednesday, which may shed more light on the divergence in monetary policy between the US central bank ...

Dollar at seven year high against yen before Fed minutes NEW YORK: The dollar hit a seven-year high against the yen on Wednesday ahead of Federal Reserve meeting minutes that could shed more light on the divergence in monetary policy between the U.S. central bank and its major global peers.The yen also weakened to a six-year trough against the euro, after Japanese Prime Minister Shinzo Abe postponed a sales tax hike in a move seen as supportive for stock markets but negative for the currency.The ...

Kenyan shilling hovers at 3-year lows, stocks rise NAIROBI: Kenya's shilling eased slightly to hover at 3-year lows on Wednesday on moderate dollar demand from companies, while stocks inched higher.At close of trade at 1300 GMT, commercial banks quoted the shilling at 90.15/25 to the dollar, compared with Tuesday's close of 90.10/20."It has weakened a bit. There was a bit of demand, not much, nothing to write home about," Chris Muiga, senior trader at National Bank of Kenya, said, adding that the local ...

Pound pushes up after two policymakers vote again for UK rate hike LONDON: Sterling rose from a 14-month low against the dollar on Wednesday after Bank of England minutes showed two policymakers continuing to vote for an immediate interest rate rise despite a weakening economic outlook.There had been some market speculation that either Ian McCafferty or Martin Weale - the two members of the BoE's Monetary Policy Committee who have since August voted for a rate hike - would reverse their support for policy tightening, given recently ...


 



 
Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln