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C$ firms as prospect of September US rate hike fades TORONTO: The Canadian dollar strengthened against its US counterpart on Thursday as the greenback weakened on softening expectations for a Federal Reserve interest rate hike in September.After the minutes of the Fed's latest policy meeting, released on Wednesday, indicated no rush to raise interest rates, investors exited dollar positions and the probability of a September rate hike fell to around 40 percent from 50 percent previously."The Canadian dollar is caught in the middle today. The market is suffering a severe case of indigestion worrying about what the Fed will do in September," said Adam Button, currency analyst at ForexLive in Montreal.The Canadian dollar finished at C$1.3081 to the greenback, or 76.45 US cents, firmer than the Bank of Canada's official close of C$1.3110, or 76.28 US cents, on Wednesday.The currency remained rangebound, trading between C$1.3060 and C$1.3176 during the session.Crude prices, another key driver for the Canadian dollar due to ...


Dollar struggles as Fed minutes dampen rate-hike hopes TOKYO: The dollar was under pressure against the yen and euro in Asia Thursday after surprisingly bearish minutes from the US Federal Reserve's last meeting dampened hopes for an imminent interest rate hike.In Tokyo, the dollar bought 124.04 yen, up from 123.89 yen in New York, but well down from 124.32 yen in Asian trading on Wednesday before the minutes' release.The euro ticked up to $1.1124 and 137.98 yen, from $1.1121 and 137.78 yen in ...

Kazakh currency falls 23pc after switch to free-float ASTANA: Energy-rich Kazakhstan announced Thursday it was abandoning its currency band for a free-floating exchange rate, in a move that triggered a 23-percent fall in the value of the tenge against the US dollar."The National Bank and the government have decided to implement a new monetary policy from August 20, 2015 based on an inflation-targeting regime, to cancel the trading band and move to a free-floating regime," Prime Minister Karim Massimov said at a Thursday ...

Dollar struggles as Fed minutes dampen rate-hike hopes TOKYO: The dollar was under pressure in Asian trading Thursday after surprisingly bearish minutes from the US Federal Reserve's last meeting dampened hopes for an imminent interest rate hike.In Tokyo, the dollar bought 123.92 yen, slightly up from 123.89 yen in New York, but sharply down from 124.32 yen in Asian trading on Wednesday before the minutes' release.The euro ticked up to $1.1136 and 137.98 yen, from $1.1121 and 137.78 yen in US trade, winning ...

Currencies under pressure, stocks hit multi-year lows LONDON: Some major emerging currencies took a breather on Wednesday after a bruising few days, but many smaller ones were still suffering, while stocks hit fresh multi-year lows on reverberations from the weakening yuan. Russia's rouble ended six straight days of losses to gain 0.2 percent against the dollar, while South Africa's rand matched those gains following the rout across emerging market currencies sparked by China's yuan devaluation last Tuesday. A weaker dollar provided some ...

Ugandan shilling unchanged, importer dollar demand could weigh KAMPALA: The Ugandan shilling was stable on Wednesday but was likely to weaken in the coming days due to higher demand for dollars from importers as the month draws to a close. At 0916 GMT, commercial banks quoted the shilling at 3,545/3,555, unchanged from Tuesday. "We have been getting a lot of inquiries from importing corporates," said Shahzad Kamaluddin, trader at Crane Bank. "So there's a clear sign some demand from these will be coming ...

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 ...


 



 
Index Closing Chg%
Arrow DJIA 16,102.38 1.66
Arrow Nasdaq 4,683.92 1.05
Arrow S&P 1,921.22 1.53
Arrow FTSE 6,042.92 2.44
Arrow DAX 10,038.04 2.71
Arrow CAC-40 4,523.08 2.81
Arrow Nikkei 17,792.16 2.15
Arrow H.Seng 20,840.61 0.45
Arrow Sensex 25,201.90 2.18





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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln