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Interest rate cut shocks Swiss franc lower LONDON: The Swiss franc hit a 28-month trough against the dollar and also fell against the euro on Thursday after the Swiss National Bank said it would introduce negative interest rates to stop further currency appreciation.In a surprise statement, the SNB said it would impose an interest rate of -0.25 percent on some large deposits held by investors in Swiss francs, as it seeks to discourage buying of the currency as a safe haven.SNB Chairman Thomas Jordan also confirmed on Thursday that the bank had intervened in foreign exchange markets, in another effort to defend the central bank's three-year-old cap of 1.20 francs per euro.An unfolding financial crisis in Russia and the continued slide in oil prices have rocked global markets, fuelling demand for assets like the franc used by investors as a refuge from economic and market turmoil.The franc weakened to as much as 1.2098 per euro before paring ...

Russian rouble slips as Putin speech fails to impress MOSCOW: The rouble edged lower against the dollar on Thursday, with traders saying President Vladimir Putin had offered few concrete measures at his end-of-year news conference to pull Russia out of a crisis.The president said Russia's economy would inevitably rebound but provided no clear plan to tackle the crisis that has seen the rouble collapse around 45 percent against the dollar this year.At 1355 GMT, the rouble was around 1.3 percent weaker against the dollar ...
Swiss franc hits 2-year low as SNB cuts rates to negative LONDON: The Swiss franc hit its lowest against the dollar in more than two years, and touched a two-month trough against the euro, on Thursday after the Swiss National Bank said it would introduce negative interest rates.In a brief statement, the SNB said it would impose an interest rate of -0.25 percent on sight deposit account balances of over 10 million Swiss francs as it seeks to discourage safe-haven buying of francs.Global markets have been ...
Russian rouble weakens as traders see no major measures in Putin speech MOSCOW: The rouble weakened against the dollar and euro on Thursday with traders saying President Vladimir Putin had so far offered no concrete measures to pull Russia out of a crisis at his end-of-year news conference.At 0954 GMT, the rouble was around 3 percent weaker against the dollar at 62.04 after opening more than 1 percent higher. The rouble was also around 2 percent weaker versus the euro at 76.50 on the Moscow Exchange.Traders said ...
UK retail sales helps sterling bounce back after Fed hit LONDON: Sterling rose against the dollar and the euro on Thursday, helped by much better than expected retail sales numbers for November, a boost for an economy that had appeared to be cooling off.The pound had shot lower against the dollar overnight along with a raft of other currencies in reaction to a statement on policy by the Federal Reserve, which was read as leaving it firmly on course to raise U.S. interest rates next ...
Rouble slides before Putin news conference on Russia crisis MOSCOW: Russia's rouble lost more ground against the dollar on Thursday before President Vladimir Putin's end-of-year news conference, expected to be dominated by what a government minister called a "perfect storm" hitting the economy. The rouble was more than 2 percent weaker on the day, despite central bank action to prop up the currency and around 45 percent down against the dollar this year, hit by Western sanctions over the Ukraine crisis and low oil ...
Swiss franc falls vs euro after SNB introduces negative rates LONDON: The Swiss franc hit the lowest level against the euro since mid-October on Thursday after the Swiss National Bank introduced a negative deposit rate. The franc weakened to a low of 1.20925 per euro and was last trading down 0.5 percent at 1.2068 on trading platform EBS, edging away from the SNB's three-year old cap of 1.20 francs per euro. It was also the weakest it had been against the US dollar since May ...

 



 
Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln