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Sterling weakens as investors fret over Carney's message, yen firm LONDON: Sterling stayed under pressure for a second day on Wednesday, as investors cut favourable bets on the currency after Bank of England governor cooled expectations of an interest rate hike later this year.The euro was the main beneficiary of the pound's losses. The single currency also made gains against growth-linked and less-liquid currencies like the Australian dollar amid geopolitical concerns in the Middle East, which have knocked down shares. The situation in Iraq was also supporting the safe-haven yen, traders said.Most of the attention, though, was on the pound after surprisingly less hawkish comments from BoE Governor Mark Carney on Tuesday. The pound fell to a one-week low of $1.6952 and pulled further away from a 5-1/2 year peak of $1.7064 hit last Wednesday. The euro rose to a near two-week high of 80.315 pence, before easing back a bit to trade at 80.15.Carney said Britain's economy still has ...

Sterling hurt by debate over Carney's ‘flip-flap’ LONDON: Sterling inched lower on Wednesday, adding to its biggest fall against the euro in more than a month after the latest salvo from Bank of England policymakers left investors increasingly confused over the outlook for interest rates. With Britain's economy steadily improving, the game on the pound for the past few months has been a to and fro on expectations for when the bank will deliver a first, potentially small and precautionary, rise in ...
FX firmer, Polish central bank chief says he will stay BUDAPEST: The zloty firmed on Tuesday after the head of Poland's central bank said he would not resign over a growing scandal of leaked tapes that have rocked domestic politics and markets.Other Central European markets, including equities and bonds, were mostly calm.The forint firmed slightly, tracking the zloty, even though Hungary's central bank is expected to cut interest rates further at its meeting on Tuesday.The zloty firmed 0.1 percent against the euro, continuing to recover ...
Sterling dips below $1.70 on BoE comments LONDON: Comments by Bank of England policymakers slowed sterling's recent bullish run on Tuesday, offering no sign of support for a rise in official interest rates this year and a relatively sanguine message on price pressures in the economy.The pound dropped around a third of a percent against both the dollar and euro in the first 30 minutes of testimony in parliament by Governor Mark Carney and three colleagues.It regained a foothold thereafter but the ...
BoE's Carney knocks sterling down, euro unfazed by IFO survey LONDON: The British pound fell on Tuesday, on track for its biggest daily decline in two weeks against the dollar, after Bank of England chief Mark Carney did little to bolster interest rate hike expectations.The pound fell around a third of a percent against the euro, leading to broad gains for the single currency. The euro barely reacted to a German IFO survey that showed sentiment weakened more than expected in June, as concerns grew ...
Euro, pound tread water before German Ifo, Carney testimony LONDON: The euro and the pound traded steady on Tuesday before testimony from Bank of England chief Mark Carney and a German sentiment survey that could highlight the monetary policy divergence between the euro zone and Britain. Investors also looked ahead to an economic policy update from Japan later in the day. In Europe, the German Ifo survey at 0800 GMT is likely to provide signs of how companies in the euro zone's largest economy ...
Rouble hits 5-month high vs dollar after Ukraine ceasefire MOSCOW: The rouble hit a five-month high against the dollar on Tuesday after pro-Russian separatist leaders in Ukraine's east agreed to observe a ceasefire with Ukrainian forces and as Russian firms prepared to pay their monthly taxes. At 0700 GMT the rouble was 0.39 percent firmer at 33.99 against the dollar, after touching a high of 33.92. It last reached that level on Jan. 22. Russian shares, meanwhile, also rose on the ceasefire, which was ...

 



 
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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