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Sterling drops after UK manufacturing PMI survey misses forecasts LONDON: Sterling fell against the dollar and the euro on Wednesday, after data showed British manufacturing growth unexpectedly slowed to its weakest rate in more than two years in June. The Markit/CIPS manufacturing purchasing managers' index (PMI) fell to 51.4, below a Reuters poll that had predicted a slight improvement to 52.5 though still above the 50 mark that separates growth from contraction. Sterling dropped to $1.5640, down 0.5 percent on the day, from around $1.5710 beforehand. It was last trading at $1.5660, still down 0.35 percent on the day. The euro inched up to 71.30 pence, having traded at 70.68 pence before the data, and firmer on the day. The single currency was also helped by news that Greek Prime Minister Alexis Tsipras sent a letter to Greece's lenders accepting a deal that creditors have offered with some changes."This (manufacturing) report is not good for the pound," said Nawaz ...

Sterling hits highest in more than seven years on safe-haven appeal LONDON: Sterling hit a 7 1/2-year high against the euro on Monday as investors veered towards currencies perceived to be a safe haven after Greece imposed capital controls.The pound fell from those highs in afternoon trade but was still firmer on the day, with traders citing intervention by the Swiss National Bank as one reason the euro was recovering. And while there was little panic across markets, most traders said any bounce in the euro ...
Euro down but showing few signs of panic over Greece LONDON: The euro proved broadly resilient on Monday to Greece's moving one step closer to an exit from the single currency, helped by intervention by the Swiss National Bank and investors concluding that the situation in Athens still has some way to run. Greece looks virtually certain to miss a debt repayment to the IMF on Tuesday as the country's European partners shut the door on extending a credit lifeline after Athens announced a referendum ...
Sterling index hovers near seven-year high, rate outlook helps LONDON: Sterling hovered near a seven-year high against a trade-weighted basket of currencies on Thursday as investors grew more confident that the Bank of England could start raising interest rates sooner than many had been anticipating.The pound rose 0.2 percent against the dollar to $1.5733, while against the euro it gained around a third of a percent to 71.14 pence.The euro had fallen to a four-week low of 70.805 pence on Tuesday, and worries about ...
Swiss franc falls on SNB warning shot; euro treads water LONDON: The Swiss franc fell to a 10-day low against a broadly flat euro on Thursday, after the head of the Swiss National Bank said it was "considerably over-valued" and that the SNB would continue to intervene in currency markets. As talks between debt-laden Greece and its creditors ground on with no clear sign that a deal was on the table, the euro bounced around a little against the dollar in choppy trade, but stayed ...
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 ...
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 ...

 



 
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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