Norway is well placed to face currency shocks according to bank Governor Olsen

Norway is well poised to face new currency shocks and challenges and doesn’t suffer the same economic problems as its trading partners, Norges Bank Governor Oystein Olsen said last week. His comments lifted the Norwegian krone to its highest levels against the euro since March, just before the central bank made a cut to its key interest rate. “While many o

Swedish krona exchange rate moves higher against the euro on growth report

The Swedish krona’s exchange rate moved higher against the euro last week, paring a third monthly decline, after a government report showing the economy returned to growth in the first quarter boosted demand for the country’s currency.The kro

No bids for Ukrainian hryvnia bonds at auction for second time in 2012

Investors snubbed sales of local Ukrainian bonds for a second time this year, offering no bids on Thursday the finance ministry said when offering one, three, five and seven-year Ukrainian ...

Romanian leu exchange rate falls to record low against the euro

The Romanian leu’s exchange rate fell to the weakest on record against the euro, sliding for a third day on speculation Greece may be on its way out of the ...

Russia’s growth forecast for 2012 trimmed by World Bank official

Growth in Russia and Eastern Europe will probably slow this year and the region is at risk from tighter credit conditions at a time when lending by the IMF may ...

Poland will not take on the euro any time soon according to Finance Minister

Poland’s adoption of the euro currency is out of the question until the euro zone improves its structure and gives its central bank a bigger role to prevent crises in ...

Investors with Icelandic krona assets see delays in exiting their holdings

Investors with about 3 billion in Icelandic krona assets risk delays in exiting their holdings as steps to ease the restrictions by 2015 show signs of faltering. At last week’s currency ...

Latvia’s failed Parex bank to be re-branded under new name Reverta

Parex bank’s British Chief Executive Christopher Gwilliam last week hailed the re-branding of the failed Latvian bank under new name Reverta, an initiative estimated to cost 15,000 lats. The EU and ...

New 2 lita coins to be issued by Bank of Lithuania in 2012 and 2013

New two litas denomination coins of different design, dedicated to Lithuanian resorts and resort sites, will be issued in 2012 and in 2013, the Bank of Lithuania said in a ...

Norway’s central bank may need to cap the Norwegian krone’s foreign exchange rate

Norway’s central may need to establish a Swiss style floor for the Norwegian krone to euro foreign exchange rate as it has limited ability to cut interest rates further without ...

Hotels in Ukraine jack up hotel rates by up to 1335 percent ahead of Euro 2012

While plenty of tickets for Euro 2012 are still available at affordable rates, hotels in Ukraine are jacking up their rates to as high as 1335 percent as the June ...

Romania’s central bank cuts interest rates for fourth time in as many months

Romania’s central bank cut interest rates on Thursday for the fourth time in as many policy meetings, taking rates down to a record low of 5.25 percent. The whole 1 percentage ...

Swedish krona foreign exchange rate moves higher on strong retail sales

Swedish krona fans are smiling Thursday after a blast of strong retail sales data kicked the Swedish krona’s foreign exchange rate higher, but the outlook isn’t wholly bright as the ...

Iceland’s central bank raises interest rates after krona exchange rate slips lower

Iceland’s central bank raised interest rates for a third time in seven months to contain inflation after the Icelandic krona’s foreign exchange rate slipped and economic growth picked up. The seven-day ...

Latvia looking for 1 billion euros compensation from the EU

To agree on imposing economic sanctions against Belarus, Latvia may demand from the EU a minimal compensation of one billion euros. The chairman of the Society on Promoting Latvian-Belarusian Economic Ties ...

Lithuania’s performance in the export market remains in the comfort zone

Lithuania’s performance in the export market remained in the comfort zone in the first month of the year, data from Statistics Lithuania showed last week. Overall, exports of goods of ...

Governor warn’s that Norwegian krone foreign exchange rate may weaken

Norway’s central bank Governor Oeystein Olsen said investors should be aware that the Norwegian krone’s foreign exchange rate may weaken and that it’s a riskier investment than the Swiss franc. “At ...

Romania needs 30 million euros per week in funds says EU Commissioner

Romania will have to attract EUR 30 million in European funds every week until the end of this year, to make sure it will get the same level of structural ...

Ukrainian hryvnia foreign exchange rate to weaken further in 2012

The Ukrainian hryvnia foreign exchange rate will likely weaken further in 2012, according to the chief financial officer of Ferrexpo PLC, citing that he expects inflation in the Ukraine to ...

Riksbank says a weaker Swedish krona foreign exchange rate helps with inflation

Riksbank Deputy Governor Karolina Ekholm said the recent weakening of the Swedish krona’s foreign exchange rate has eased the need for policy makers to revise their inflation forecast lower.The currency ...

Russian ruble exchange rate rises against US dollar as oil prices climb

The Russian ruble’s exchange rate erased yesterday’s declines against the US dollar and bonds gained as oil prices climbed on bets global economic growth is on track. The Russian ruble extended ...

Poland faces risk of falling zloty if Greece swap fails to stop default concerns

Poland faces the risk of the zloty dropping as the country remains vulnerable to contagion if Greece’s debt swap fails to allay investors’ default concern, said Maciej Reluga, an adviser ...

Russian ruble exchange rate drops as Central Bank maybe buying other currencies

The Russian ruble’s foreign exchange rate fell the most in two weeks as Russia’s monthly tax period ended and amid speculation the central bank is buying other currencies to stem ...

Polish zloty foreign exchange rate falls against euro after manufacturing slips up

The Polish zloty’s foreign exchange rate fell against the euro today, snapping a five day winning streak, after a report showed Polish manufacturing slipped up to stagnation from expansion in ...

Iceland is now safe to invest in again says ratings agency Fitch

Iceland is now safe to invest in again, according to ratings agency Fitch, which has upgraded its credit rating three years after its economy spectacularly collapsed, as Fitch raised Iceland’s ...
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