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Brazil real weakens as central bank defends currency  RIO DE JANEIRO: The Brazilian real weakened o n Wednesday after the country's central bank intervened to halt four sessions of gains that drove the currency near an informal floor of 2 reais per dollar. The bank sold $1.37 billion in reverse currency swaps as part of its efforts to curb the real's gains, which had been spurred in previous sessions by optimism about additional monetary stimulus from the European Central Bank and the US Federal Reserve. On Wednesday, the likelihood of further gains increased after Germany's Constitutional Court approved the euro zone's new bailout fund. The court's green light was a key requirement for the ECB's new plan to buy bonds of struggling euro members. The ruling restored hopes for a recovery of the region's economy, lifting global stock prices. The real weakened 0.2 pct to 2.0194 per dollar after the auction, however. Jo?o Medeiros, a partner at Pioneer Corretora de Cambio Ltda, a ...

Argentina currency policy creates multi-headed monster  BUENOS AIRES: Argentina's increasingly tough currency controls have spawned multiple exchange rates that hurt savers without helping exporters, and they could backfire by depressing investment and driving up inflation. President Cristina Fernandez is trying to lock in currency stability and end Argentines' long obsession with dollars in a country scarred by devaluations, most recently in 2002. The onerous controls are distorting the economy. The multiple exchange rate system - which the government does not acknowledge - forces ...
Euro rises ahead of German court ESM ruling  NEW YORK: The euro gained against the dollar Tuesday amid rising expectations that a German court will rule in favor of the eurozone rescue fund and the Federal Reserve will take new easing measures. At 2100 GMT, the euro was at $1.2848, compared to $1.2758 on Monday. The dollar fell against the yen, to 77.73 yen from 78.27 yen, while the euro was barely higher against the Japanese currency, rising to 99.88 yen. Markets were focused on the ...
Latam currencies gain on Fed bets, Moody SAO PAULO: Latin American currencies gained on Tuesday as a Moody's warning on US credit ratings weighed on the dollar globally, adding to bets the greenback will further underperform higher-yielding currencies as central banks deploy additional stimulus measures. The Brazilian real erased part of its gains to trade at 2.0177, however, after traders said the central bank was considering selling reverse currency swap contracts to stop the currency from strengthening past the level of 2 per ...
US dollar falls as Fed, Moody NEW YORK: The US dollar fell against most major currencies on Tuesday on expectations the Federal Reserve will soon unveil new economic stimulus measures and losses accelerated after Moody's Investors Service raised fears about a credit rating downgrade of the United States. Moody's said the US could lose its triple-A debt rating if next year's government budget talks do not result in a lower debt to GDP ratio. The euro also hit a four-month high on expectations ...
Aussie dollar rises 3-week high NEW YORK: Australian dollar rose to a nearly three-week high versus a broadly struggling greenback on Tuesday, boosted by increased expectations the Federal Reserves will announce further easing measures this week to boost the U.S economy. The Aussie dollar also traded past a key US$1.04 options barrier that had capped it the last few weeks. It traded as high as US$1.0442, its strongest level since Aug. 24, and was last at US$1.0440, up 1 percent. Copyright Reuters, ...
Euro drops first time in 4 days but Fed could limit downside  NEW YORK: The euro fell against the dollar for the first time in four days on Monday, a reversal that may prove to be transitory given high expectations that the US Federal Reserve this week will unveil new stimulus measures to bolster the economy. The euro remained close to an almost four-month high touched on Friday when disappointing US jobs data spurred speculation the Fed would launch a third round of quantitative easing, called QE3, at ...


Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
Arrow CAC-40 4,382.31 0.32
Arrow Nikkei 17,407.62 0.29
Arrow H.Seng 23,843.91 0.21
Arrow Sensex 28,338.05 0.57

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln