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Euro subdued on doubts over European Central bank bold steps

The euro was subdued against the dollar on Tuesday, trading below recent three week highs on growing doubts the European Central Bank can meet market expectations of bold steps to combat the euro zone debt crisis. The euro hit a record low against the growth-linked Australian dollar, with higher-yielding currencies retaining gains on expectations that both the ECB and
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A large decline in the euro currency value could save Spain

The declining value of the euro holds the key to the eurozone’s survival and could save Spain. The interest rate on Spanish government debt has soared above 7 per cent, reflecting its lack of progress in reducing its fiscal deficit and those of Val

Aussie dollar remains largely unchanged in trading today

A robust outlook for the local economy from the head of the Reserve Bank of Australia and upbeat China PMI data lifted the Australian dollar during Asian trade Tuesday though ...

UK pound exchange rates falls after inflation eases to lowest level since 2009

In early European trade on Tuesday the UK pound’s exchange rate fell after a report showed that the UK inflation annual inflation unexpectedly eased in June to reach the lowest ...

UK sterling still volatile against major currencies after Greek election results

The UK released no major data on Friday and only one major piece of data was released from the US, UK sterling still had a volatile trading session due to ...

Swiss franc’s floor to the euro sees continued pressure and could break again

As the euro zone crisis grinds on, the pressure on the Swiss franc’s floor to the euro is intensifying whilst the Swiss National Bank continue to purchase foreign currency to ...

Danish krone exchange rate comes under huge safe haven pressure, could break

The head of Denmark’s central bank has warned that the Danish krone is coming under intense pressure from investors seeking a safe haven in Europe and betting that the krone’s ...

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 ...

Omani lender Bank Nizwa attracts 681 million rials of bids for shares

Omani lender Bank Nizwa, the sultanate’s first Islamic bank, attracted 681 million rials ($1.77 billion) of bids in its initial public offer of shares, 11 times the sum which it ...

Pakistani rupee exchange rate falls to an all time low against the US dollar

The Pakistani rupee’s exchange rate fell to its lowest level against the US dollar today amid panic in the country’s fragile forex market, as Pakistan’s central bank denied it would ...

Lawmakers in Panama approved plan to create the country’s first sovereign wealth fund

Lawmakers in Panama approved the government’s plan to create the country’s first sovereign wealth fund with revenue from an expanded Panama Canal to help buffer Latin America’s fastest-growing economy in ...

Peru sol’s exchange rate gains for first time in two weeks on dollar sales

The Peru sol’s exchange rate gained for the first time in two weeks after the central bank stepped up US dollar sales to meet demand for the US currency spurred ...

Qatar plans to boost government spending by 27 percent in 2012 and 2013

Qatar plans to boost government spending by 27 percent in 2012 and 2013, including wages, social services and infrastructure, but it expects to see a comfortable surplus, state news agency ...

Saudi Arabia’s stock market gets hit by broad sell off on lower oil price

On its first trading session in June, the Saudi Arabian Tadawul All-Share Index was hit by a broad sell off Saturday, after the price of oil fell to a nine ...

Sri Lanka’s stock market moves higher, concerns over weak rupee

Sri Lanka’s stock market rose more than 1 percent on Friday with retail and foreign investors buying shares in thin volumes in an overall skittish market concerned about a weak ...

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 ...

Thai baht exchange rate sees fifth weekly decline on Asia slowdown fears

The Thai baht’s foreign exchange rate had a fifth weekly decline and Thailand’s government bonds rose on fears that growth in Asia is on a slowdown. The local currency dropped to ...

Taiwan’s dollar sees biggest weekly loss in eight months on Asian slowdown

Taiwan’s dollar had its biggest weekly loss in eight months and government bonds rose as signs of a slowdown in Asia’s largest economy heightened concern Europe’s debt crisis is cooling ...

UAE banks will not be affected by recent turmoil in international markets

UAE banks won’t be adversely impacted by the recent turmoil roiling international markets, the country’s central bank said yesterday. “The Board reviewed report of the Assistant Governor for Monetary Policy and ...

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 ...

Uruguay wants to expand its nascent local sovereign debt market to improve liquidity

Uruguay wants to expand its nascent local sovereign debt market to improve the liquidity of its securities, said Azucena Arbeleche, the head of the government’s debt management unit. Having reached a ...

Vietnam’s central bank may cut the ceiling rate on Vietnamese dong deposits

Vietnam’s central bank may cut the ceiling rate on Vietnamese dong deposits by another 2 percentage points to 9 percent later this year to help boost lending and spur economic ...

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 ...

Venezuela’s economy expanded 5.6 percent in the first three months of 2012

Venezuela’s economy expanded 5.6 percent in the first three months of 2012 compared with the same period a year ago, spurred by the boom in government spending undertaken by President ...

Greek drachma returns as alternative loan repayment currency for the EIB

The EIB (European Investment Bank) was preparing for the break-up of the euro last night by allowing Greek companies to repay loans in its former currency, the Greek drachma. The ...

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