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Sterling at the whim of euro fluctuations after Greece deal LONDON: Sterling strengthened against the euro on Monday, as the single currency weakened across the board after Greece and its European creditors reached agreement on a new debt deal for Athens. There are no major UK economic data releases, events or policymaker speeches scheduled for Monday, leaving the pound largely at the mercy of the euro's fluctuations. Euro zone leaders clinched the deal, which keeps Greece in the euro zone, after a whole night of haggling at an emergency summit in Brussels. "The content of the deal may not be quite as positive as the headline," said Neil Jones, head of hedge fund FX sales at Mizuho in London, on why the euro had reversed initial gains. Traders also bet that the deal will mean monetary policy differentials will weigh on the euro again, with the European Central Bank continuing its 1 trillion euro quantitative easing bond-buying programme and the ...

Euro dips, markets mostly up as Greece talks drag on HONG KONG: The euro edged down Monday but stock markets mostly rose as European leaders presented Greece with a painful set of demands to secure a debt bailout or face a eurozone exit. Traders also took some support from figures showing a pick-up in Chinese exports that tempered worries about the country's economy and provided some stability to Shanghai stocks after weeks of fierce volatility.During the high-stakes summit talks, Germany and other eurozone leaders handed ...
Sterling moves up along with euro on Greek deal optimism LONDON: Sterling climbed against the dollar on Friday, drawing support from a euro rally fueled by optimism that Greece was making progress in its efforts to secure more funding and stay in the currency union.Sterling had fallen to a one-month low earlier in the week as the dollar surged on interest rate differentials moving in its favour, but it was then boosted by a British budget that was less austere than many had expected and ...
Greek deal optimism sees euro jump 2 percent vs yen LONDON: The euro rose across the board on Friday, jumping 2 percent against the yen, on optimism that Greece was making progress in its efforts to secure funding and stay in the single currency. The yen and Swiss franc, currencies which tend to do well during turmoil in financial markets, both lost ground as demand for riskier assets picked after Chinese shares rebounded. The euro climbed 2 percent against the yen to a one-week high ...
Sterling inches up from lows after budget, robust housing data LONDON: Sterling inched up from a one-month low on Thursday, drawing some support from a British budget bill that was not as fiscally tight as many investors had expected, as well as strong numbers from the housing market.The pound was unmoved by the Bank of England's decision to, as expected, keep its benchmark interest rate at the record low of 0.5 percent, as policymakers grappled with how to balance improving wage growth in Britain against ...
Zloty eases, weakness of stocks and Greece weigh BUDAPEST/WARSAW: The zloty fell to a 5-month low against the euro on Wednesday ahead of a Polish central bank meeting as fear that Greece may leave the euro zone weighed on Central European markets.Some central banks in the region are still in their monetary easing cycle, but analysts in a Reuters poll unanimously projected that the Polish bank would keep rates on hold at 1.5 percent.The zloty still eased by 0.2 percent to 4.221 to ...
Sterling suffers ahead of UK austerity budget LONDON: Sterling fell another half a percent against the dollar and euro ahead of Britain's post-election budget on Wednesday, hitting a four-week low against the dollar which reflects a return of concern over the pace of economic growth ahead. Sterling had jumped on the back of some better economic numbers in recent months and the returning of a majority Conservative administration in May's general elections. But with Greece's problems threatening another shock to European economies, ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln