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Euro has potential to hit 1.30 Swiss francs LONDON: The Swiss franc has scope to weaken to 1.30 against the euro in the first quarter of 2013 as investors' cautious optimism towards the euro zone reduces the franc's appeal as a safe haven.   Huge bets that relied on the franc holding firm were built up as the currency spent month after month pinned near the 1.20 ceiling imposed by the Swiss National Bank since September 2011.   But a marked weakening in the franc in the past week is threatening the profitability of these positions, prompting traders to scale back their franc holdings and generating a scramble for protection in the options market.   These adjustments will take far more than a few days to work through the foreign exchanges, not least because liquidity is sometimes proving to be a problem when large amounts of Swiss francs have to be traded.   And the reasons for the euro to extend its gains against the Swiss ...

Swiss franc lower vs euro on improving euro zone outlook ZURICH: The Swiss franc eased against the euro in early trading on Tuesday as signs of improving conditions in the euro zone continued to buoy the single currency and weighed on the safe haven greenback.   Until recently, the franc had traded largely in tandem with the euro since September 2011, when the Swiss National Bank imposed a 1.20 per euro cap after the soaring franc had threatened to push Switzerland's economy into recession.   After trading in a ...
Euro hits 11-month high versus struggling pound LONDON: The euro extended gains into a fifth straight session on Tuesday to hit a 11-month high against sterling, with the British pound hurt by grim prospects for an economic recovery in the UK.   The euro was up 0.2 percent at 84.36 pence, its highest since late February with the common currency also buoyed by a reversal of safe-haven inflows that bolstered the British pound during the euro zone debt crisis last year.   Worries about the euro ...
Zloty hits two-month low on rate cut prospects BUDAPEST/PRAGUE: Poland's zloty fell to a fresh two-month-low against the euro on Monday after two hawkish policymakers signalled their support for near-term interest rate cuts to aid the economy.   Central banks are in sharper focus in emerging European markets, with the forint under pressure over impending changes at Hungary's central bank and investors watching for clues on whether the Czech bank might intervene against the crown.   The zloty lost up to half a percent after Polish rate ...
Sterling weak as investors brace for poor UK data LONDON: Sterling hovered near a 10-month low against the euro on Monday and looked vulnerable as market players braced for data expected to show the UK economy contracted in the fourth quarter.   In Asian trade, the pound fell to its lowest since mid-March against the euro and hit a nine-week low versus the dollar, dragging its trade-weighted index to a 9-1/2 month trough.   It partly recovered later after failing to breach key chart support levels. But the ...
Zloty hits two months low BUDAPEST: Poland's zloty fell over half a percent on Monday to hit a fresh two-month-low to the euro after two hawkish central bank rate-setters signalled their support for near-term policy easing to aid the economy.   At 1144 GMT, the zloty was down 0.5 percent, followed by the Romanian leu and the Croatian kuna which shed 0.3 percent each.   The Czech crown and the Hungarian forint gained 0.1-0.2 percent.   Poland's Adam Glapinski, a strong advocate of tight monetary policy ...
Yen rises on profit taking before BOJ decision LONDON: The yen recovered from a 2-1/2 year low against the dollar on Monday with traders trimming large bets against the currency in case easing measures expected from a Bank of Japan meeting fall short of expectations.   The yen is likely to stay firm until the BOJ's policy decision is known after the two-day meeting ends on Tuesday. The central bank, which is expected to double its inflation target and increase its asset purchase programme, said ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln