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Dollar recovers broadly on favorable US monetary policy view NEW YORK: The US dollar recovered against a basket of major currencies on Thursday on the view that Wednesday's selloff was overdone given the relative strength of the U.S. economy and the Federal Reserve's commitment to tightening U.S. monetary policy.A disappointing auction of Spanish debt and data showing deflation hit five peripheral euro zone countries in September underscored the relative health of the U.S. economy and the divergence between the Fed's path toward hiking interest rates and the European Central Bank's potential to further loosen monetary policy."The market is unwinding some of the moves that we saw yesterday as we come to the conclusion that, even if a Fed liftoff comes a bit later, that still means the U.S. dollar continues to have an advantage relative to most measures," said Martin Schwerdtfeger, currency strategist at TD Securities in Toronto.The dollar gained traction after hitting a three-week low against the euro ...


Kenyan shilling gains on offshore investors; Safaricom sinks shares NAIROBI: The Kenyan shilling strengthened for a second straight session on Thursday dollars flowed in from offshore investors. Stocks edged lower.The shilling closed at 88.90/89.00, stronger than Wednesday's 89.10/89.20.A surge of dollars, most likely from offshore investors seeking to buy government debt, supported the local currency, said Eric Gathecha, a trader at I&M Bank."I'm thinking it must be for the government bonds coming up... we've seen quite a bit of (dollar) inflows," said Gathecha.Kenya will ...

Euro slides to 11-month low against yen, volatility rises LONDON: The euro skidded to a fresh 11-month low against the safe-haven yen on Thursday as euro zone peripheral bonds came under pressure and as global growth worries sent investors in search of refuge.The euro fell 1 percent against the Japanese currency to 134.36 yen on trading platform EBS. Against the dollar, the euro fell 0.8 percent to $1.2720.The moves came as Greek 10-year bond yields rose by one percentage point, on mounting worries over ...

Euro dives on debt worries, Norway's crown hammered LONDON: The euro fell along with dramatic losses for higher-yielding currencies like the Norwegian crown and Australian dollar on Thursday as a sell-off of Spanish and Italian debt added to a growing sense of panic in financial markets.Another day of turmoil on European stocks was spurred by a spread of concerns from Greece to other debt-laden southern European nations, with Spain struggling to place all of a planned sale of bonds. U.S. stock futures also ...

Rouble's plunge shows Russia's reliance on Western money MOSCOW: A steep plunge in the rouble, caused by sanctions over the Ukraine crisis and falling oil prices, has underlined Russia's heavy dependence on Western finance to balance its dollar-thirsty economy.For all President Vladimir Putin's anti-Western bravado and talk of shifting Russia's economic ties to Asia, the last few weeks show the opposite - that the cogs of the economy are oiled by financial flows from the West.A fall in foreign exchange inflows has prompted ...

Sterling held back by dampened UK rate hike expectations LONDON: Sterling fell against the dollar on Thursday, moving back towards the previous session's 11-month low, on expectations that a rise in British interest rates will be delayed.The dollar stabilised after a sharp sell-off on Wednesday following weaker-than-expected retail sales data. That pushed back expectations for a rate rise in the United States into 2016 and investors cut favourable dollar bets.Sterling was down 0.3 percent against the dollar at $1.5975 , having hit $1.5875 on ...

Sri Lanka rupee forwards edge up on mild dollar buying COLOMBO: Sri Lankan rupee forwards traded a tad firmer on Thursday as tepid dollar purchases and mild exporter conversions helped the currency edge up.Three-day forwards or spot next was traded at 130.80/85 per dollar at 0655 GMT, compared to Wednesday's close of 130.90/131.00.The spot currency was not traded on Thursday, currency dealers said."There was no restriction from the central bank, but nobody wants to deal with the spot currency," a dealer said on condition of ...


 



 
Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln