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Swiss franc strengthens after SNB posts record losses LONDON: The Swiss franc rose to a one-week high against the euro and jumped 0.8 percent against the dollar on Friday, after the Swiss National Bank unveiled record losses that raised questions about how long it can keep intervening to check the strength of the franc. The euro fell to 1.05315 francs while the dollar dropped to 0.96165 francs, retreating from a three-month high hit earlier this week on expectations that the Federal Reserve will raise interest rates later this year. Switzerland's central bank posted a first-half loss of 50.1 billion Swiss francs ($51.8 billion) as it stepped up intervention in the currency market, buying euros whose value has fallen as the European Central Bank embarked on its one-trillion euro asset purchase buying programme in March. Having stunned financial markets in January by abandoning its cap on the value of the franc versus the euro, it has continued to intervene ...

Sterling bucks dollar bull trend with help from UK rate outlook LONDON: Sterling hit a one-week high on a trade-weighted basis on Thursday, bucking a broad dollar rally on expectations that the Bank of England is likely to follow the US Federal Reserve in raising interest rates in the coming months. The pound was the only major currency to remain steady versus the greenback on Thursday, which was boosted by data that showed US economic growth accelerated in the second quarter as consumer spending picked up, ...
Sterling rises above $1.56 as UK growth gathers pace in Q2 LONDON: Sterling rose against the dollar and the euro on Tuesday after data showed the British economy picking up pace in the second quarter, supporting a view that the Bank of England could start raising interest rates in the coming months.Gross domestic product grew 0.7 percent on the quarter in the April-June period -- in line with forecasts -- after a first-quarter expansion of 0.4 percent. Second-quarter output was 2.6 percent higher than a year ...
Russian ruble drops to past 60 per dollar MOSCOW: The Russian ruble on Tuesday plummeted past 60 against the dollar for the first time since March on falling oil prices, complicating the central bank's efforts to jump-start the battered economy.The ruble reached 60.30 per dollar in early afternoon trading in Moscow after having lost two percent of its value on Monday. The new weakening of the ruble, which comes after the embattled currency bounced back somewhat in recent months, is expected to further ...
Sterling climbs as UK growth gathers pace in Q2 LONDON: Sterling rose against the dollar and the euro on Tuesday, after data showed the British economy picking up pace in the second quarter, supporting a view that the Bank of England could start raising interest rates in the coming months.Gross domestic product grew 0.7 percent on the quarter in the April-June period -- in line with forecasts -- after a first-quarter expansion of 0.4 percent.Second-quarter output was 2.6 percent higher than a year earlier, ...
Russian ruble hits 4-month low on falling oil prices MOSCOW: The Russian ruble on Monday plummeted to a four-month low after stabilising to a degree in spring, hurt by falling oil prices amid a global oversupply of crude.The ruble hit the psychological threshold of 66 rubles per euro in afternoon trading in Moscow, a four-month low. The Russian currency also edged closer to 60 rubles per dollar, weakening to 59.8 against the dollar.The "short-term outlook for the ruble looks cloudy," said Dmitry Polevoi, chief ...
Euro up 0.7pc vs flagging dollar, awaits German IFO survey LONDON: The euro hit a two-week high against a subdued dollar on Monday, with traders awaiting Germany's IFO survey, which is likely to indicate Europe's largest economy is on track to post a reasonable pace of growth.The dollar fell broadly, after a drop in US shares and bond yields dimmed its allure, with markets focused on this week's Federal Reserve policy meeting. It fell 0.35 percent against the safe-haven yen with a 7 percent drop ...

 



 
IndexClosingChg%
ArrowDJIA 17,689.86 0.03
ArrowNasdaq 5,128.28 0.01
ArrowS&P 2,103.84 0.23
ArrowFTSE 6,696.28 0.41
ArrowDAX 11,308.99 0.46
ArrowCAC-40 5,082.61 0.72
ArrowNikkei 20,585.24 0.30
ArrowH.Seng 24,636.28 0.56
ArrowSensex 28,114.56 1.48





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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln