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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 erode consumption and fuel inflation, which stood at 15.3 percent last month. "Inflation is already extremely high, and another sharp fall in the ruble would fuel it even further, which, in turn, would intensify the squeeze on households' real incomes," Liza Ermolenko, an emerging markets economist at Capital Economics, told AFP.Low energy prices, brought on by the global oversupply of crude oil, have sent the Russian currency into its most recent decline, causing it to ...

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 ...
Sterling slides vs resurgent euro LONDON: Sterling fell against the euro on Monday, continuing last week's decline against the resurgent single currency, with investors looking ahead to British growth data later in the week.With China's economic and financial market travails throwing doubt over the strength of global growth, some sterling traders are starting to question whether the Bank of England will raise interest rates as soon as many had pencilled in.Upbeat German business sentiment added fuel to the euro's fire ...
Sterling weakens to hit 10-day low vs dollar LONDON: Sterling eased against the dollar on Friday, on track for its weakest weekly performance in three, after recent data disappointed and falling oil prices raised some doubts over when the Bank of England would hike interest rates. Sterling dropped to $1.5469, down 0.3 percent on the day, and its lowest in 10 days. It has retreated from last Friday's high of $1.5673 when it was underpinned by indications that the BoE was edging towards ...
Russian rouble continues retreat as low oil price weighs MOSCOW: The Russian rouble fell further against the dollar on Friday, retreating for a third day as international oil prices hovered close to three-and-a-half-month lows. At 0830 GMT, the rouble was 0.4 percent weaker against the dollar at 58.10 and had gained 0.1 percent to 63.52 versus the euro. The rouble has shed around 2 percent against the dollar since Wednesday as a result of declines in the Brent oil price, which has returned to ...

 



 
Index Closing Chg%
Arrow DJIA 17,440.59 0.73
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Arrow S&P 2,067.64 0.58
Arrow FTSE 6,505.13 1.13
Arrow DAX 11,056.40 2.56
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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