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China forex chief says to launch china international payment system this year HONG KONG: China will launch its international payment system this year, said Yi Gang, head of China's State Administration of Foreign Exchange (SAFE). "We plan to launch it this year," Yi told Reuters on Tuesday.Reuters exclusively reported on Monday that China aimed to launch the so-called CIPS system as early as September or October.CIPS, which would be a worldwide payments superhighway for the yuan, will replace a patchwork of existing networks that make processing renminbi payments a more cumbersome process.Copyright Reuters, 2015 ...

Sri Lankan rupee steady; downward pressure seen easing COLOMBO: The Sri Lankan rupee traded steady on Monday on moral suasion by the central bank, with the market expecting the downward pressure on the currency to ease due to government borrowing amid rising interest rates."The rise in interest rate and heavy demand for the rupee by the government will ease the pressure. Exporters will start converting dollars when the rise in the interest rates become attractive to convert their dollars into rupees," a currency ...
South Korean won hits 3-month low as US jobs data keeps Fed in play, stocks drop SEOUL: South Korea's won and shares slumped on Monday, tracking their Asian peers after a strong U.S. jobs report on Friday heightened expectations of the Federal Reserve raising interest rates sooner than thought.The South Korean won ended onshore trade at 1,112.1, down 1.2 percent from Friday's close at 1,098.7 and capped the worst daily percentage fall since late October last year.During Monday's session it touched 1,112.6, the lowest level against the dollar since Dec. 9.The ...
China's yuan falls on central bank guidance, shrugs off record trade surplus  SHANGHAI: China's yuan weakened against the dollar on Monday, after the central bank set its midpoint rate at the lowest level since November, which traders said signalled that monetary authorities intend to guide the currency mildly lower.Before the market opened, the People's Bank of China set the midpoint at 6.1563 per dollar, than Friday's fix at 6.1533.The spot market opened at 6.2651 per dollar and the yuan was changing hands at 6.2656 at midday, 27 ...
Dollar holds firm after US jobs data rally TOKYO: The dollar held its gains Monday after soaring on an upbeat US jobs report that boosted expectations for an early interest rate hike, while it sat at 12-year highs against the euro as the European Central Bank prepares to launch a massive stimulus programme.In Tokyo, the greenback bought 120.92 yen, up from 120.78 yen on Friday in New York, while the euro bought $1.0841 -- around its lowest since early 2003 -- compared with ...
Sri Lankan rupee ends steady; central bank says cuts FX intervention COLOMBO: The Sri Lankan rupee closed unchanged on Friday on sustained moral suasion by the central bank amid calls by the International Monetary Fund to limit its intervention in the foreign exchange market. Central Bank Governor Arjuna Mahendran however said on Thursday the monetary authority was not intervening as aggressively in the forex market as earlier. "In my view, we are not intervening aggressively. In fact, reserves are rising," Mahendran told Reuters on the sidelines ...
Dollar steady ahead of US jobs report TOKYO: The dollar was steady ahead of a key US jobs report later Friday, while the euro struggled after the European Central Bank released details of an unprecedented monetary easing plan designed to lift the faltering eurozone economy.In afternoon Tokyo trade, the greenback bought 120.01 yen, weakening from 120.14 yen in New York but it was still up from 119.85 yen in Tokyo earlier Thursday.The single currency bought $1.1024 against $1.1028 in US trade where ...


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln