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Sterling hurt by dollar surge, soft retail sales LONDON: Sterling traded near its lowest in more than four months against the dollar on Thursday after taking a hammering along with a raft of other currencies against the greenback overnight on the back of U.S. Federal Reserve meeting minutes.The pound, down more than six cents in the past month, had gained a foothold on Wednesday after minutes from the Bank of England's own last policy meeting showed the first dissenting votes on its policy committee for a rise in interest rates.But a similarly hawkish message from the Fed sent the dollar higher across the board after UK markets closed, driving the pound to less than $1.66 for the first time since early April.Slightly softer British retail sales on Thursday added to the pressure."Its all about the Fed this morning and possibly some digestion of the BoE minutes from yesterday," said Michael Sneyd, a strategist with French bank BNP Paribas ...

German data brings some relief to euro, Norwegian crown rallies LONDON: The euro recovered from a 11-month low against the dollar on Thursday after better-than-expected German private sector growth data, although gains were limited given the numbers did little to alter expectations of more monetary stimulus.Amongst the biggest movers in the European session was the Norwegian crown which hit a two-month high against the euro after forecast-busting growth data. Norway grew 1.2 in the second quarter, double of expectations, and piling pressure on the central ...
Turkey's lira weakens to almost its five-month low after Fed minutes ISTANBUL: The Turkish lira weakened to near its five-month lows after minutes of the Federal Reserve's last meeting led markets to price in a greater risk of an earlier hike in interest rates. The lira depreciated to 2.1880 against the dollar by 0534 GMT, its lowest level since March 28.Copyright Reuters, 2014 ...
Sterling rebounds after BoE minutes show split on rate decision LONDON: Sterling rebounded from four-month lows against the dollar on Wednesday after Bank of England minutes showed two policymakers voted for an interest rate hike in August, catching many investors by surprise.Bank of England policymakers Martin Weale and Ian McCafferty both voted this month to start raising interest rates, becoming the first officials on the nine-member Monetary Policy Committee (MPC) to do so in more than three years.Some in the market had expected only one ...
Sterling rebounds after BoE minutes show 2 policymakers favoured rate rise LONDON: Sterling rebounded from four-month lows against the dollar on Wednesday after Bank of England minutes showed two policymakers voted for an interest rate hike in August.Martin Weale and Ian McCafferty both voted to start raising interest rates this month, becoming the first officials to do so in more than three years.Some in the market had expected only one member of the bank's Monetary Policy Committee at most to vote for a rate rise and ...
Turkish assets weaken as Fed minutes, new cabinet eyed ISTANBUL: Turkish stocks and the lira weakened on Wednesday, in line with emerging market peers, as investors awaited policy signals from the U.S. Federal ReserveThat overshadowed optimism that key economic ministers would remain in a new Turkish cabinet.Senior ruling party officials told Reuters the key ministers responsible for the economy were likely to retain their roles when Prime Minister Tayyip Erdogan assumes the presidency later this month.Investors have been particularly concerned about the position of ...
Dollar breaks out to 11-month highs, eyes on Fed WARSAW: The dollar reached an 11-month high against the euro and a basket of major currencies on Wednesday, buoyed by optimism over the health of the US economy. The greenback broke through resistance around $1.3300 and last November's high of $1.3295 per euro in morning trade in Europe. It also climbed to a 4 1/2-month high against the yen. Dealers and analystssaid signals from the US economy and policy establishment - on Wednesday, minutes from ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln