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Dollar rebounds on US data, drop in 'currency war' anxiety NEW YORK: The US dollar recovered on Thursday after China's central bank said there was no basis for further yuan depreciation and on data showing U.S. retail sales rebounded in July, refocusing attention on the likelihood of a Federal Reserve interest rate increase in September.After hitting a roughly one-month low Wednesday, the U.S. dollar rose against a basket of major currencies as the yuan's decline slowed, easing worries that China's decision to devalue its currency was a deliberate attempt to gain a competitive advantage.U.S. retail sales increased 0.6 percent last month, broadly in line with economists' expectations, while June retail sales were revised higher. The data boosted expectations that the Fed would raise rates in September for the first time in nearly a decade."The retail sales data very much keeps September in play," said Ian Gordon, FX strategist at Bank of America Merrill Lynch in New York. Gordon said the ...

C$ falls as China's surprise devaluation hits oil price TORONTO: The Canadian dollar dropped against its US counterpart on Tuesday, reversing the previous session's hefty gains, as oil prices took a beating following China's surprise move to devalue its currency.The yuan had its biggest decline in more than two decades after the Chinese central bank devalued it by nearly 2 percent overnight in China's latest attempt to bolster its economy following a string of poor economic data.China is one of the world's largest natural ...
Latam currencies slide as China devalues yuan SAO PAULO: Latin American currencies fell on Tuesday after China's decision to devalue the yuan by nearly 2 percent fueled a sharp drop in commodities prices as well as concerns about the competitiveness of emerging market exporters.Latin America's most traded currencies - including those of Mexico, Brazil, Chile, and Colombia - all dropped about 1 percent following the Chinese move, which raised questions about Beijing's commitment to a strong yuan as part of a strategy ...
Yuan in biggest fall since 1994 after surprise devaluation NEW YORK: The yuan suffered its biggest fall in more than two decades on Tuesday, hitting a three-year low after the Chinese central bank surprised markets by devaluing it by almost 2 percent, firing a broadside in what some analysts saw as a looming currency war. The bank described the move as a "one-off depreciation" and billed it as free-market reform, but, after a run of weak Chinese data, with exports tumbling more than 8 ...
Dollar slips vs euro, yen after US jobs report NEW YORK: The dollar fell against the euro and the yen Friday, despite a solid US jobs report that raised expectations that the Federal Reserve will soon lift interest rates.The dollar initially rose after the report, which said the US economy added 215,000 jobs in July and that unemployment held steady at a seven-year low rate of 5.3 percent.However, the greenback later retreated against the euro and the yen, although it remained higher against the ...
Brazil's real plunges further on Rousseff poll SAO PAULO: Brazil's currency fell its most in nearly two weeks on Thursday after poll data showed President Dilma Rousseff's approval rating continued to deteriorate, raising fears of greater political turbulence and weaker economic discipline ahead.The Brazilian real dropped for a sixth straight session, losing about 2 percent to trade at 3.56 per dollar, its weakest since March 2003.Poll data by research firm Datafolha earlier Thursday showed Rousseff's approval rating at just 8 percent, with ...
Surprisingly strong exports lift C$ off 11-year low TORONTO: The Canadian dollar pulled back from an 11-year low against its US counterpart on Wednesday as data showed the country's trade deficit narrowed sharply in June due to soaring exports.The trade shortfall for the month was far less than analysts had expected and, coupled with disappointing US private-sector jobs data, helped push the loonie back below C$1.32 to the greenback.The improvement in the trade data was "very surprising and quite large in magnitude," said ...

 



 
Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61





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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