Monday 5 December 2016
 
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Foreign currency

Britons' demand for foreign currency surges

Britain's Post Office on Wednesday a reported a surge in demand for euros and US dollars in its local branches and online this week, ahead of Thursday's referendum on European Union membership. The Post Office said overall

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S&P cuts Saudi foreign currency rating: report

Standard & Poor’s has cut the foreign currency rating of Saudi Arabia by one notch to A+ and kept the outlook on negative, said a Bank of America Merrill Lynch (BofAML) report. “We had expected a downgrade, but the

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UAE foreign assets surge 38pc to $77bn

The UAE central bank's foreign currency assets jumped 38 per cent from a year earlier to Dh282.9 billion ($77 billion) in December as holdings of foreign securities and deposits abroad increased, data showed on Thursday.   

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Egypt pound hits new low against dollar

The Egyptian pound weakened to a new record low against the US dollar on Thursday, extending its losses to 6.4 percent since the central bank introduced a new system of foreign currency auctions to curb a decline in foreign reserves.

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Egypt pound's decline slows at 4th auction

Egypt's pound slid further on Thursday at the central bank's fourth auction of foreign currency and hit a new record low in the interbank market although the pace of its decline slowed from earlier in the week. The central

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Egypt pound will stabilise in days: Mursi

Egypt's president held out hope that a weakening pound could stabilise within days under a new regime implemented to fend off financial ruin and safeguard reserves needed to ensure food and fuel imports in a political crisis.

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SABB launches e-platform for foreign currency

The Saudi British Bank (SABB), an associated company of the HSBC Group, said it has launched an innovative foreign currency portal for corporate clients to use in their foreign currency trading operations. The online platform feat

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UAE foreign currency assets soar to $51bn

The UAE central bank's foreign currency assets rose to Dh189.1 billion ($51.5 billion) in August from 186.8 billion in the previous month, mainly because of a rise in holdings of foreign securities, its data showed on Thursday.  

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Top agency reaffirms GIB currency ratings

Bahrain-based Gulf International Bank's (GIB) long-term and short-term foreign currency ratings have been reaffirmed by Capital Intelligence at A and A1 respectively, while the bank's financial strength rating is also maintained at BBB+. A

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UAE Sept foreign assets fall to 7-month low

The UAE central bank's foreign currency assets fell to a seven-month low of Dh182.6 billion ($49.7 billion) at the end of September from Dh187.9 billion in the previous month, central bank data showed on Wednesday. Gulf oil exporters s

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