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Dollar jumps as Fed rate guidance shows quiet confidence in US economy TOKYO: The dollar took the upper hand on Thursday after the Federal Reserve signalled it was on track to raise interest rates next year, altering a pledge to keep them near zero for a "considerable time" in a show of confidence in the US economy. The Fed said it would take a "patient" approach in deciding when to bump borrowing costs higher, guidance which it said is consistent with its previous statement that rates will be low "for a considerable time."Fed Chair Janet Yellen told a news conference that the statement meant it was unlikely to hike rates for "at least a couple of meetings," meaning April of next year at the earliest. "The markets have had some relief as the Fed is moving forward as planned, but not too fast, in raising rates," said Takako Masai, the head of market research at Shinsei Bank. The dollar index rose to ...

Ruble steady in Asia after Russia measures to halt collapse TOKYO: The ruble recovered in Asia Thursday after Russian authorities launched fresh measures to halt its collapse, while the Federal Reserve's indication that interest rates will not rise until mid-2015 supported the dollar.The struggling Russian unit was at 61.20 to the dollar after plunging to 80 earlier in the week, and at 74.92 against the euro after previously hitting 100.Moscow said Wednesday it would sell about $7 billion in foreign reserves to prop up its ...
China FX regulator says closely monitoring Russian rouble slide BEIJING: China is closely monitoring the slide in the Russian rouble, the foreign exchange regulator said on Thursday, as the currency of one of its major energy importers struggles to avoid a free-fall. Wang Yungui, head of policy and regulations for the State Administration of Foreign Exchange (SAFE), told a news conference that China was not overly concerned about signs of forex outflows in recent months."Under the circumstance, signs of capital outflows in certain months ...
China's yuan broadly steady on strong fixing HONG KONG: China's yuan held steady against the dollar on Wednesday after the central bank set its daily midpoint at a fresh 10-month high, an encouraging sign of stability in the Chinese unit amid fears of fallout from a currency crisis in Russia.Safe-haven assets were in demand with yields on British, German and Japan sovereign debt hitting record lows while investors retreated from emerging market currencies.Fresh economic data this week indicate Chinese economic growth may ...
Dollar pulls off lows but under pressure ahead of Fed TOKYO: The dollar nursed its losses in Asian trading on Wednesday, pulling away from lows hit overnight on skidding oil prices, Russia's financial crisis, and speculation that the Federal Reserve might take a more cautious tone on monetary policy.Data released earlier on Wednesday showed Japan's exports rose 4.9 percent in November, falling short of forecasts despite the weakening yen, which helped the dollar regain some of the ground it lost overnight against its Japanese counterpart. ...
Indian rupee, bonds continue to fall; foreign fund flows key MUMBAI: The rupee hit a new 13-month low on Wednesday, while bonds and shares fell to their weakest this month on concerns a brewing financial crisis in Russia would spark foreign selling even in India, one of the star performers among emerging markets this year.Overseas investors sold Indian shares worth $196.56 million on Tuesday, their biggest daily net sales since Oct. 17, and a sixth consecutive day of selling, according to exchange data.Foreign investors also ...
Asian currencies dampened by risk aversion on Russia turmoil  SINGAPORE: Emerging Asian currencies put in a mixed performance against the dollar on Wednesday as sentiment remained cautious in the wake of sliding oil prices and financial market turmoil in Russia.Worsening global risk sentiment has weighed on emerging Asian currencies this week, with Indonesia's rupiah sliding to a 16-year low of 12,930 versus the dollar on Tuesday and India's rupee hitting a new 13-month low on Wednesday."I think it's just a calm before the storm," ...


Index Closing Chg%
Arrow DJIA 17,356.87 1.69
Arrow Nasdaq 4,644.31 2.12
Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
Arrow DAX 9,544.43 0.20
Arrow CAC-40 4,111.91 0.46
Arrow Nikkei 16,819.73 0.38
Arrow H.Seng 22,585.84 0.37
Arrow Sensex 26,710.13 0.27

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln