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Dollar recovers against euro on lower bund yields, upbeat US data NEW YORK: The US dollar recovered against the euro on Thursday after German bund yields retreated from their highs for the year and optimism grew that the US employment report for April would show strength after upbeat data on weekly jobless claims. German 10-year bund yields dipped from a 5-1/2 month high of 0.796 percent to last trade at 0.598 percent. The move lower made those yields less attractive compared with 10-year US Treasury yields, which were last at 2.22 percent, and helped the dollar regain some demand. "Now that yields are coming back, the euro is giving up some of its gains," said Richard Franulovich, senior currency strategist at Westpac in New York, in reference to bund yields slipping from their highs. The euro had built on recent gains against the dollar and risen to a 10-1/2 week high of $1.13920 earlier in the session. The dollar's recovery against ...

South Africa's rand softens after failing at key resistance JOHANNESBURG: South Africa's rand eased against the US dollar on Thursday after failing to push through the stubborn 12/$ resistance level, while investors waited for direction from US jobs numbers due in the next session. The weak state of the domestic economy was also in focus after Finance Minister Nhlanhla Nene told parliament a sluggish global recovery and domestic constraints such as power shortages were holding back growth. At 1504 the rand had softened 0.27 ...

Ugandan shilling flat on tepid demand for dollars KAMPALA: The Ugandan shilling was unchanged on Thursday amidst sluggish demand from banks and firms for dollars.At 0901 GMT, commercial banks quoted the shilling at 2,995/3,005, unchanged from Wednesday's close.Shahzad Kamaluddin, a trader at Crane Bank, said importers were waiting to see if the foreign exchange rate would come off in the event of the dollar weakening and the central bank propping up the local currency."Because of these factors corporate (firms) think there's room for ...

Swiss franc hits 2-week high after SNB reserves data LONDON: The Swiss franc hit a two-week high against the euro on Thursday after data showed Switzerland's foreign exchange reserves fell in April, suggesting it may have held off on buying significant amounts of euros to weaken the Swiss franc. The Swiss National Bank held 521.888 billion Swiss francs in foreign currency at the end of April, preliminary data from the International Monetary Fund showed, slightly lower than the 522.399 billion recorded in March. The ...

Dollar ticks up after drop on weak jobs data TOKYO: The dollar picked up Thursday after tumbling on weak US jobs data and a warning from Federal Reserve Chair Janet Yellen that stock markets were at risk of overheating.In Tokyo midday trading, the greenback fetched 119.55 yen, up from 119.44 yen in New York.The euro was mixed at $1.1342 and 135.60 yen, compared with $1.1348 and 135.54 yen in US trade, as traders keep a close eye on tense Greek bailout talks.Fresh US data ...

Vietnam devalues dong to boost growth HANOI: Vietnam's central bank said Thursday it would devalue the dong currency for the second time this year in a bid to boost exports and drive the economy forward.The State Bank of Vietnam (SBV) will devalue the reference rate by one percent to 21,673 Vietnamese dong per dollar to "cope with adverse impacts of international markets", it said in a statement.The dong was last devalued by one percent in January. The second devaluation of the ...

C$ firms on crude rally, soft greenback TORONTO: The Canadian dollar strengthened against its US counterpart on Wednesday as crude prices surged to 2015 highs and the US dollar stumbled on soft economic data, but gains were well-off highs hit earlier in the session.The big oil and greenback drivers appeared to overshadow any market reaction from an historic election in the oil-producing province of Alberta, in which the left-wing New Democrats won a crushing victory, ending the Progressive Conservatives' 44-year hold on ...


Index Closing Chg%
Arrow DJIA 18,041.54 1.04
Arrow Nasdaq 5,032.75 1.11
Arrow S&P 2,104.20 1.03
Arrow FTSE 6,948.99 1.18
Arrow DAX 11,625.13 1.61
Arrow CAC-40 5,083.54 0.66
Arrow Nikkei 20,437.48 0.12
Arrow H.Seng 28,249.86 0.92
Arrow Sensex 27,531.41 0.41

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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 $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln