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Turkish lira slips on Ukraine tensions, cabinet formation boost expected ISTANBUL: Turkey's lira weakened on Monday as a deepening crisis in Ukraine rattled investors, but the formation of a cabinet that signalled policy continuity was expected to soothe markets in the short run. Ukrainian President Petro Poroshenko warned a "full-scale war" was imminent if Russian troops continued to advance in support of pro-Moscow rebels, while Russian President Vladimir Putin called on Sunday for immediate talks on the "statehood" of southern and eastern Ukraine. But some analysts said the formation of a new Turkish cabinet on Friday, with Deputy Prime Minister Ali Babacan to continue to oversee economic policy, could boost the lira. "We think this would lead the local political tension over more populist policies leading to rating downgrade to ease for the short term," a note from Erkin Isik, strategist at TEB-BNP Paribas said. "Despite geopolitical risks, especially over Ukraine, continuing to exert volatility to markets, we think this ...

Ruble hits new record low against the dollar MOSCOW: The ruble slumped to a new record low of 37.3910 to the US dollar on Monday as tensions over the Ukraine crisis mounted further and the threat of new Western sanctions hung over Russia.The ruble also slid to a five-month low of 49.0903 to the euro, but Russian stock markets were broadly stable, with the ruble-denominated MICEX index up 0.29 percent in early trading while the dollar-denominated RTS gave up 0.46 percent.Copyright AFP (Agence ...
Sterling strengthens as UK house prices, consumer confidence rise LONDON: Sterling inched up on Friday after data showed British house prices unexpectedly surging in August, keeping alive expectations that the Bank of England will hike interest rates in the coming months. Earlier on Friday, a survey showed British consumer morale strengthening more than expected in August, suggesting Britons feel more confident about their economy and that consumer spending will remain a big driver of the country's recovery. Data showed inflation in the euro zone ...
Euro earns temporary reprieve after in-line inflation reading LONDON: The beleaguered euro won temporary relief on Friday after euro zone inflation came in line with expectations and somewhat cooled speculation that the European Central Bank would ease monetary policy as early as next week. Nevertheless, it was on track for a second straight month of losses as euro zone annual inflation has fallen to a five-year low of 0.3 percent - well below the ECB's danger zone of 1.0 percent. This is likely ...
Turkish lira firms on better than expected trade data ISTANBUL: Turkey's lira firmed on Friday thanks to narrower-than-expected trade deficit in July and news that the economic management team in Prime Minister Ahmet Davutoglu's first cabinet will remain unchanged. 7 In July, the trade deficit was $6.46 billion, below a Reuters poll forecast of $7.41 billion. Exports rose 2.6 percent to $13.4 billion and imports fell 13.5 percent to $19.9 billion, data from the Turkish Statistics Institute said. In the first seven months of ...
Rouble hits record low against dollar on new sanctions fears MOSCOW: The Russian rouble touched a record low against the dollar on Friday as Russian markets extended losses from Thursday amid fears that an escalating conflict with Ukraine would provoke further Western sanctions. The rouble dropped to 37.03 against the dollar before recovering slightly to trade at 36.99 at 1200 GMT, leaving it still down 0.7 percent on the day. The Russian currency was down 0.8 percent at 48.80 versus the euro and 0.7 percent ...
Ruble falls to record low against the dollar MOSCOW: The ruble slumped to a record low against the US dollar on Friday as investors worried that the West may tighten sanctions against Russia over its role in Ukraine.The ruble slid to 37.0260 to the dollar, breaking its previous record low set in March when Russia annexed Crimea from Ukraine.By 0800 GMT the ruble had recovered slightly to 36.91 to the dollar, still weaker than the 36.75 it closed at on Thursday.The ruble also ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln