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Yen dips after Bank of Japan cuts growth, inflation forecasts TOKYO: The yen edged lower Wednesday as Japan's central bank cut its annual growth and inflation forecasts for the world's third-largest economy, boosting the odds of more monetary easing measures this year.In Tokyo trading, the dollar ticked up to 123.44 yen from 123.38 yen in New York where it had weakened following disappointing US retail sales data.The euro rose to 135.86 yen from 135.82 yen in US trade, while it edged down to $1.1003 from $1.1008 as Greece prepares for a parliamentary vote on tough reforms demanded by eurozone creditors in exchange for a huge new bailout. The Bank of Japan's downgrade suggested second-quarter growth would be weak, and ups the chances that policymakers will expand their record asset-buying plan later this year.The weaker forecasts set off "limited yen selling because the bank could eventually take more action", said Yuji Saito, executive director of foreign exchange at Credit Agricole."There is ...

Sterling unmoved as UK inflation slips back to zero; wage data eyed LONDON: Sterling fell against the euro but inched up against the dollar on Tuesday, as investors bet a fall-back of British inflation to zero would be temporary, with prices still suffering from a slump in oil prices last year. Figures released on Tuesday showed that consumer price rises fell to zero percent in June after nudging into positive territory in May, as food and summer clothing prices fell. An underlying measure of inflation, which strips ...

Russian rouble slips after Iran nuclear deal reached MOSCOW: The Russian rouble tracked oil prices lower on Tuesday after Iran and six major powers reached a deal over the Islamic republic's disputed nuclear programme. Forex sales by exporters checked the rouble's losses, however, and the central bank said the market had already priced in a deal over Iran. At 0945 GMT, the rouble was 0.8 percent weaker against the dollar at 56.97 and had lost 1 percent to trade at 62.82 versus the ...

Turkey's lira hits firmest since late May ISTANBUL: The Turkish lira rallied some 0.6 percent against the dollar on Tuesday to below 2.63, its firmest since May 26, boosted by hopes for a coalition government, the Greek bailout and falling oil prices after the Iran nuclear deal. The positive mood extended to the main Istanbul share index , which rose 0.82 percent, while the benchmark 10-year government bond yield was steady at 9.48 percent. Copyright Reuters, 2015

Egyptian pound steady at auction, parallel market CAIRO: Egypt's central bank held the Egyptian pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday after a depreciation earlier this month. The currency also remained unchanged on the parallel market. The central bank said it had offered $40 million and sold $37.5 million at a cut-off price of 7.7301 pounds per dollar , unchanged from Sunday's rate. The central bank had held the pound at 7.5301 for the past five ...

Ugandan shilling holds steady as liquidity tightens KAMPALA: The Ugandan shilling held steady on Tuesday on the back of tighter liquidity in money markets as companies paid their mid-month taxes. Commercial banks quoted the shilling at 3,290/3,320 against the dollar at 0902 GMT, unchanged from Monday's close. "Liquidity is very tight as we have not had any injections in days," said Shahzad Kamaluddin, a trader at Crane Bank. Kamaluddin said the market now expects the currency to strengthen, aided by a combination ...

Dollar higher against euro after Greece deal TOKYO: The dollar rose against the euro in Asian trade Tuesday after Greece reached a tentative new bailout deal, with investors' focus now on the US Fed chief's testimony this week.On forex markets in Asia, the euro stood at $1.0986, slightly off from $1.1004 in New York late Monday.The euro eased to 135.74 yen against 135.84 yen in US trade, while the dollar moved higher to 123.59 yen from 123.45 yen.After gruelling 17-hour talks, Greek ...


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln