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South Korea's won surges to pre-crisis level SEOUL: South Korea's won surged Wednesday to its highest level since before the global financial crisis, sparking concern the stronger currency might undermine the export-reliant economy.The won ended at 1,041.40 to the dollar, up 10.80 won from the previous session and close to the 1,039.80 per dollar reached on August 14, 2008.The country's continuously strong trade surplus and a recent global weakening of the greenback combined to bolster the won, analysts said."Many people believed the won would not strengthen beyond the 1,050 won per dollar in the forseeable future", economist Park Sungwook of the Korea Institute of Finance told AFP."But once the won rose past that level, a very large amount of orders to buy the won came in."Finance Minister Hyun Oh-Seok appeared to hint Wednesday that Seoul would not intervene to stop the rise.He said Seoul was paying more attention to the won's "volatility rather than the exchange rate ...

Dollar claws back some losses against yen in Asia TOKYO: The dollar on Wednesday edged up against the yen after tumbling in New York trade after the head of the Bank of Japan poured cold water on hopes it will add to its stimulus programme in the near future.In Tokyo midday trade, the greenback bought 101.89 yen, up from 101.75 yen late in New York but still well down from 102.90 yen in Tokyo earlier Tuesday.The euro was at 140.51 yen and $1.3789, compared ...
Yen rises in Asia after BoJ chief quashes stimulus hopes TOKYO: The yen rose in Asia Tuesday as the head of the Bank of Japan quashed hopes for an imminent expansion to its stimulus programme, and said the economy would not be severely hurt by a recent sales tax rise.The dollar slipped to 102.56 yen in late Tokyo afternoon trade from 102.90 yen before the BoJ governor's comments and 103.09 yen in New York Monday.The euro also weakened to 141.22 yen from 141.65 yen in ...
Sri Lankan rupee recovers on inflows, exporter dollar sales; shares up COLOMBO: The Sri Lankan rupee recovered on Tuesday due to remittances from migrant workers and exporter dollar sales ahead of the festive season, dealers said.The spot rupee was traded at 130.60/65 per dollar at 0522 GMT, firmer from Monday's close of 130.68/70. "Inflows from remittances and exporter conversions strengthen the rupee," said a currency dealer. Dealers said the rupee is likely to trade between 130.50 and 130.80 in the short to medium term and could ...
Yuan rises slightly in minimal volatility after US warning SHANGHAI: The yuan strengthened slightly on Tuesday as the central bank firmed the official guidance rate, but volatility remained minimal as traders await new signs of direction from Beijing.Returning from a three-day weekend, the central bank set the official midpoint rate at 6.1527 per dollar on Tuesday morning, 0.05 percent firmer than Friday's close, and the spot rate also strengthened to 6.2070 by midday.But the spot rate traded within an extremely tight range, as it ...
Yen gains in Asia after BoJ wraps up meeting TOKYO: The yen extended its gains in Asia Tuesday as the Bank of Japan stood pat on its monetary easing programme while it assesses the impact of a sales tax rise on the world's third-largest economy.The dollar slipped to 102.90 yen in Tokyo midday trade from 103.09 yen in New York Monday, while the euro also weakened to 141.45 yen from 141.65 yen in US trade.The European single currency bought $1.3743, little changed from $1.3740.The ...
US jobs data supports Asia FX; won dips on intervention caution SINGAPORE: Most emerging Asian currencies rose on Monday after the latest US jobs report was not seen as strong enough to raise expectations of an early rate hike by the Federal Reserve, while the won turned weaker on growing caution over intervention.The South Korean won ended local trade down 0.2 percent at 1,055.4 per dollar as offshore funds sold the currency and domestic importers bought the dollar for payments, traders said.Investors became more wary that ...


Index Closing Chg%
Arrow DJIA 17,757.91 0.79
Arrow Nasdaq 5,013.13 0.53
Arrow S&P 2,077.42 0.69
Arrow FTSE 6,608.59 1.34
Arrow DAX 11,180.50 2.15
Arrow CAC-40 4,883.19 1.94
Arrow Nikkei 20,329.32 0.46
Arrow H.Seng 26,250.03 1.09
Arrow Sensex 28,020.87 0.86

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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln