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Turkey's lira recovers to pre-election level against dollar ISTANBUL: Turkey's lira rose to its highest in three weeks on Thursday, touching a level last seen before voters went to the polls on June 7, as investors bet the AK Party was moving closer to forming a coalition government. The lira was hammered after the AKP lost its single-party government, raising concerns about political gridlock and the possibility of a snap election. But investors are increasingly betting the party will be able to form a coalition government, some thinking it could pick the main opposition People's Republican Party (CHP) in a move that would be favourably viewed by the business elite. "With the chances of a coalition rising, there is a general positive mood on the dollar/lira front," said Pinar Uslu, strategist at ING's Turkey unit. "But it's hard to go beyond 2.66 unless there are new developments to ease the uncertainty." The lira was at 2.6606 to the ...

Rouble eases on reduced demand from exporters for taxes MOSCOW: Russia's rouble slipped on Wednesday because of reduced demand for the Russian currency from exporters to pay their monthly taxes, but it felt some support from a stronger oil price, traders said.At 0947 GMT, the rouble was 0.5 percent weaker against the dollar at 54.11 and lost just under 1 percent to trade at 60.64 versus the euro.The rouble had been supported by monthly tax payments which require Russian exporters to convert their foreign ...
Dollar takes a pause after rally, rate hike view in focus LONDON: The dollar index eased on Wednesday after hitting its highest in over a week as US 10-year Treasury yields dipped, with investors' focus slowly shifting from Greece to prospects for higher US interest rates. The index shed 0.3 percent to 95.155. On Tuesday it had climbed to 95.636, its highest level since June 12. It held onto the bulk of the gains made on Tuesday, when it climbed 1.2 percent -- its best daily ...
Euro falls in face of higher US yields, Greek doubts LONDON: The euro fell back on Tuesday, hurt by a rise in US bond yields and as traders fretted over whether Greece and its creditors could overcome still-formidable political barriers in the way of sealing a debt deal.The euro's move above $1.14 late in European time on Monday followed a series of headlines indicating an agreement may be reached later this week that would prop Greece up for another period and keep the euro zone's ...
Euro falls as FX investors worry, a little, about Greece LONDON: The euro fell against the dollar on Friday, while the cost of hedging against further euro weakness jumped, on concerns about the fate of Greece as it teetered on the edge of default and an exit from the euro zone. The euro has so far proved surprisingly resilient to worries over Greece. Although it was half a percent weaker against the dollar on Friday at $1.1307, it was still on track for a third ...
Sterling index at highest since mid-2008 after British wages rise LONDON: Sterling climbed to a seven-year high against a trade-weighted basket of currencies on Wednesday after wage growth data gave the strongest indication in some time that Britain's economy is on track to deliver higher inflation and interest rates.Total average weekly earnings in the three months to April, including bonuses, rose by 2.7 percent compared with the same period a year earlier, speeding up from 2.3 percent year-on-year growth in the three months to March.Economists ...
Sterling inches higher vs euro in tight trade LONDON: Sterling gained some ground against a broadly weaker euro on Thursday while falling back from a near-three-week high against the dollar in a market struggling for new direction after six months of political and economic jitters.Some analysts said the pound, which hit 7-year highs after last month's election generated none of the predicted trouble in forming a government, had suffered from the lack of any hints in an annual speech by the Bank of ...


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln