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Australian & NZ dollars weighed by iron ore and dairy declines SYDNEY/WELLINGTON: The Australian and New Zealand dollars struggled to make friends on Wednesday, following another slide in commodity prices - particularly iron ore and dairy. The Australian dollar dropped to $0.8683, from $0.8728 in early trade, pulling away from a high of $0.8796 touched Monday. Support was found at $0.8667, and more solidly around $0.8637-40. It hit a four-year trough of $0.8540 earlier this month. Much of the weakness came after the price of iron ore, Australia's top export earner, slipped to its lowest in five years at $72.10 a tonne. Not helping were comments made late Tuesday by Reserve Bank of Australia's Governor Glenn Stevens who reiterated his view that the Australian dollar remained above its fundamental value and a fall would help the economy. The Aussie was also dragged lower by a pressured New Zealand dollar following a weak Fonterra milk auction. The kiwi eased to $0.7886, from ...

Australian & NZ dollars supported by carry trades SYDNEY/WELLINGTON: The Australian and New Zealand dollars edged up on Tuesday, as the outlook for sustained monetary policy support from the European Central Bank and Bank of Japan favoured carry trades. The Australian dollar was holding at $0.8710, having met stiff resistance just ahead of $0.8800 on Monday. The Aussie received some support after Australia and India said they will push for a free trade pact.The news came a day after the finalisation of a ...
Australia, NZ dollars jump on yen as Japan slips into recession SYDNEY: The Australian and New Zealand dollars extended their meteoric rise on the yen on Monday as dismal Japanese economic data only served to reinforce the case for aggressive stimulus in the country, including from a weaker currency. The Aussie shot to a 20-month peak of 102.40 at one stage before steadying at 101.90, a rise of three yen in just five sessions.The kiwi reached its loftiest level since August 2007 around 92.79 yen. The ...
Australian & NZ dollars scale new heights against yen SYDNEY/WELLINGTON: The Australian and New Zealand dollars surged on the yen on Wednesday as investors went hunting for yields, helping them in turn recoup a little ground on their US counterpart. The Australian dollar edged up to $0.8687, having rallied 0.7 percent in the last session and pulling away from a four-year trough of $0.8540 hit last week. The biggest move was against the yen, with the Aussie back above 100 yen for the first ...
Aussie & Kiwi steady but off highs as US dollar regains footing WELLINGTON: The Australian and New Zealand dollars were sitting lower in subdued trading on Tuesday as the US dollar regained some of the ground lost after last week's softer than expected jobs numbers.The Australian dollar was at $0.8635, having been knocked from its overnight high of $0.8683 as investors saw the non-farm payrolls data as pointing to a bright US economic outlook and took the opportunity to rebuild long positions. "The market has been taking ...
Dollar keeps marching higher, Euro cowers as ECB looms SYDNEY/TOKYO: The dollar kept marching higher on Thursday in anticipation of a strong US payrolls report, while the euro dangled just above a two-year trough with investors waiting to see how European Central Bank chief Mario Draghi deals with dissent. The euro last traded at $1.2484, having fallen nearly a full US cent from Tuesday's high of $1.2577. It was flirting once again with a two-year low of $1.2439 set early in the week. Disappointing ...
Australia & NZ shares slip as commodity prices fall, China data awaited SYDNEY/WELLINGTON: Australian and New Zealand shares slipped on Wednesday with weaker iron ore, copper and oil prices dragging down Australia's heavyweight resources sector amid concerns about global demand.The S&P/ASX 200 index fell 29.9 points to 5,490 by 01:20 GMT, pulling away from a two-month peak set on Monday. Energy and basic materials suffered the most with 1 percent losses, while miners added to the pain. Spot iron ore prices dropped to their weakest level since ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln