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Sterling firm; UK wage data, BoE inflation forecasts key LONDON: Sterling climbed on Monday, holding above a 14-month low hit against the dollar at the end of last week, with British wage data and a quarterly report on inflation from the Bank of England on investors' radar.If Wednesday's wage data shows subdued growth, that would boost market expectations that the first rate hike from the BoE is not likely until the second half of 2015, keeping sterling under pressure.The same day's Inflation Report could provide mixed signals. A downward revision to near-term inflation forecasts on lower energy and food prices is likely to accompanied by upward revisions to longer-term forecasts.Economic growth forecasts might be tweaked lower to factor in renewed uncertainty from the euro zone, which is facing a slowdown and the threat of deflation, analysts said.Sterling was up 0.1 percent at $1.5886, having hit a low of $1.5791 after U.S. jobs data on Friday, its weakest since September ...

Swiss franc hits 2-year high vs euro, edges towards SNB cap LONDON: The Swiss franc hit a two-year high against the euro on Monday, edging ever closer to the Swiss National Bank's three-year old cap of 1.20 francs per euro, as the single currency's struggles continued.The euro fell to 1.20215 Swiss francs on trading platform EBS, its weakest since September 2012.The SNB has successfully kept a lid on the franc's gains since it introduced the cap and says it has not had to intervene to reinforce ...
Dollar firm near 4-1/2-year high before US jobs test LONDON: The dollar firmed to near a 4-1/2 year high against a basket of currencies on Friday, with its near-term fortunes hinging on whether US jobs data due later in the day will endorse optimism about the US economy.Recent US data has remained strong, especially labour market indicators, suggesting that the unemployment rate is due for a sharp decline.That would be likely to bolster views that the US Federal Reserve is on course to raise ...
Turkish lira hits 3-week low versus dollar before payrolls ISTANBUL: Turkey's lira fell to a three-week low on Friday as the dollar stayed strong before US jobs data later in the day, hampering sentiment towards riskier assets. The dollar set a four-year high against a basket of major currencies on Friday, buoyed by the view that the US Federal Reserve is on course to raise interest rates next year in response to a steadily recovering US economy. Solid gains in US nonfarm payrolls are ...
Falling rouble may still be overvalued LONDON: The rouble may have plunged 25 percent against the dollar so far this year, but some currency traders are betting on a further 10 percent drop in 2015 on the grounds that the currency is still expensive once trade and inflation are factored in. Russia's currency is on course for its biggest weekly loss since early 2009 after the central bank decided to cap daily dollar sales at $350 million - and investors interpreted ...
Rouble crashes to new low as EM stocks suffer LONDON: Russia's rouble crashed to an all-time low on Friday and emerging market stocks headed for a steep weekly fall, as worries about slow growth, falling commodities prices and Ukraine all soured sentiment. The rouble plunged another 3 percent to put it on course for an eye-watering 10 percent weekly drop after Russian President Vladimir Putin held talks with his top security chiefs on Thursday over a "deterioration of the situation" in Ukraine. A source ...
UK readies for FX settlement with 6 banks on Wednesday LONDON: British regulators could fine a group of six bank for systems and controls failings in their foreign exchange operations as early as next Wednesday, people familiar with the matter said.Three sources said the Financial Conduct Authority (FCA) was working to release the coordinated settlement with the banks on Wednesday, although they said that timetable could slip if problems emerge with details.The six banks are Switzerland's UBS, US banks JPMorgan and Citigroup and Britain's HSBC ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln