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Eyes on impact of BNP fine for euro after flat inflation LONDON: The euro traded flat against the dollar on Monday, with market talk in Europe focused on the implications of a major fine for French bank BNP Paribas in the absence of other major themes.Euro zone inflation was in line with expectations at 0.5 percent, reinforcing the need for the European Central Bank to run very loose monetary policy but well short of a reading that would demand more action from a monthly meeting on Thursday.The euro has been creeping higher since mid-June, retaking some of the ground lost after the bank took steps to pump yet more money into the economy a month ago.All of the broader market and economic trends that have supported the single currency this year remain intact but many analysts are again pointing towards growing momentum in the U.S. economy which should eventually support the dollar.Dealers wonder whether an expected $9 billion fine for BNP ...

Euro traders eye inflation, ECB, BNP fine LONDON: The euro traded flat against the dollar in early European Monday trade, with investors' eyes on a first estimate of euro zone inflation for June ahead of the European Central Bank's monthly meeting on Thursday.No action is expected from the ECB this week but the euro has been creeping higher since mid-June, retaking some of the ground lost after the bank took steps to pump yet more money into the economy a month ago.All ...
Sterling edges lower after data shows mortgage approvals down LONDON: Sterling edged down against the euro and dollar on Monday after data showed signs that tighter rules on UK mortgage lending were starting to have an effect, lessening the impetus for the Bank of England to raise interest rates soon.Numbers released on Monday showed UK lenders approved the lowest number of mortgages for 11 months in May, showing tighter affordability rules introduced in April are dampening activity. Though total mortgage lending rose by the ...
Sterling stays close to six-year-highs after robust UK data LONDON: Sterling stayed within touching distance of six-year-highs against the dollar on Friday after data indicated the UK recovery is gathering steam, keeping alive expectations of a rate hike this year.The data showed the fastest expansion in UK business investment in two years in the first quarter, while gross domestic product (GDP) grew at 3 percent on an annualised basis, in line with expectations and the strongest since 2007. Sterling was broadly flat, trading at ...
Dollar falls for second week, Swedish crown weakens LONDON: The dollar looked set for a second week of losses on Friday, after poor US economic data left investors with no reason to expect interest rates will rise anytime soon. In Europe, German inflation data are also expected to signal a prolonged period of easy monetary policy, although that prospect has done little to curb the euro's strength so far in 2014.The Swedish crown fell almost half a percent after a poor batch of ...
Currencies retreat on dovish signals from central banks BUDAPEST: The zloty gave up gains and the forint's losses deepened on Thursday as rising rate cut expectations overshadowed a victory for Poland's prime minister in a parliamentary confidence vote.The Czech crown also weakened after the central bank suggested it may stick to its weak crown policy for longer.Shares in Bulgaria's third biggest bank fell 18 percent after a ruling party lawmaker suggested another bank could be in trouble after a run on No.4 lender ...
Sterling, housebuilding shares rally after BoE caps some home loans LONDON: Sterling climbed towards recent six-year-highs against the dollar and housebuilding stocks rose on Thursday after Bank of England measures to cool Britain's housing market left interest rate expectations unchanged.The BoE's risk watchdog, the Financial Policy Committee (FPC), sought to put the brakes on a housing market that many fear is overheating by toughening mortgage affordability tests and announcing a cap on home loans.But the measures, announced in the FPC's twice-yearly financial stability report, were ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln