18 Gulf Daily News Saturday, 19th November 2011
... your essential guide to local and world markets ...
Exchange Rates
CURRENCIES
US economy gaining steam
WASHINGTON: The US economy is with Bank of America Merrill Lynch in vails make a US recession likely by mid-
COUNTRY SELL CASHSELL DRAFT gaining steam as factories churn out more New York. 2012, although most Wall Street econo-
AUSTRALIA (Dollar) 0.3890 0.3860
cars and slowing inflation boosts spending US industrial output rose last month by mists are more optimistic and see odds
power, putting the country on stronger the most since July, helped by higher pro- closer to one-in-three.
BANGLADESH (Taka) 0.00519 0.00495
footing to resist an economic storm gather- duction of motor vehicles and parts. In the latest hopeful sign the US may be
CANADA (Dollar) 0.3767 0.3727 ing over Europe. A slowdown in inflation has also helped able to hold recession at bay, US compa-
CHINA (Yuan) 0.061100 0.0611 Recent readings of the US economic households regain a little spending power, nies have cut back on layoffs substantially.
DENMARK 0.0714 - pulse have steadily topped analysts’ expec- with weekly earnings rising in September New claims for unemployment benefits
EGYPT (Pound) 0.0659 0.0637 tations. Many now think the fourth quarter and October when accounting for price fell last week to their lowest level since
EUROPEAN UNION (Euro) 0.5165 0.5140 will prove stronger than the third, when the changes. That has helped retail sales. April.
HONG KONG (Dollar) 0.04966 0.04926 economy expanded at a 2.5 per cent annual New car sales, for example, rose 7pc last That could be a signal that employers are
rate. Forecasting firm Macroeconomic month to their highest level since February. finally poised to ramp up hiring, which has
INDIA (Rupee) 0.00784 0.00753
Advisers, for example, sees a growth rate Sales will likely rise another 8pc in been the missing piece in the country’s
INDONESIA (Rupiah) - - of 3.2pc over the final three months of the November, according to a forecast by J D sluggish recovery from the 2007-2009
IRAN (Tuman) 0.00029753 - year. Power and Associates and LMC recession.
IRAQ (Dinar) 0.000321 - While a widely expected European Automotive. Still, it does seem that the US economy
JAPAN (Yen) 0.005050 0.004980 recession will likely drag on the US econ- “Could the US withstand a recession in just can’t catch a break.
JORDAN (Dinar) 0.5354 0.5350 omy next year, the US will be able to lean Europe? I think we could,” General Motors Growth was picking up this time last
KOREA (Won) 0.00038308 into that headwind more than was possible chief executive Dan Akerson told a forum year and many analysts thought the econo-
KUWAIT (Dinar) 1.3700 1.370
just a few months ago. in Detroit. ”Consumer spending in this my was turning a corner. Then a wave of
“There is enough momentum in the near country is actually up.” civil unrest rippled through the Arab world,
MALAYSIA (Ringgit) 0.122500 0.1225
term to withstand some pain from over- Researchers at the San Francisco Federal pushing oil and petrol prices sharply higher
MALTA (Lira) - - seas,” said Michelle Meyer, an economist Reserve Bank recently said Europe’s tra- and stinging American consumers.
Growth woes hit Sensex
NEW ZEALAND (Dollar) 0.2941 0.2931
NORWAY (Krone) 0.0673 -
N. Yemen (Riyal) - -
NEPAL (Rupee) 0.00538 0.00471
OMAN (Riyal) 0.98000 0.98300
MUMBAI: The BSE Sensex ended August 7. This was its ended in the red. banks as collateral, with found-
PAKISTAN (Rupee) 0.00458 0.00436
fell 0.6 per cent yesterday, post- third straight weekly decline. The benchmark is down ers of as many as 17 companies
PHILIPPINES (Peso) 0.00902 0.00870 ing its biggest weekly fall in “The sentiment is absolutely 20.2pc in 2011 and is among pledging over 90pc of their
QATAR (Riyal) 0.10379 0.10374 nearly three-and-a-half months, pathetic, we are not seeing any the worst performing markets holdings, Bank of America-
SAUDI ARABIA (Riyal) 0.10062 0.10065 as fresh concerns about the sort of buying support,” said in the world. Foreign portfolio Merrill Lynch had said in a
SINGAPORE 0.2951 0.2941 European debt crisis com- Ambareesh Baliga, investors have bought June report.
SOUTH AFRICA (Rand) 0.04830 0.04820 pounded lingering worries over chief operating officer equities worth $571 “There is uncertainty about
SRI LANKA (Rupee) 0.00357 0.00346 weak domestic growth and at Way2Wealth BOMBAY million so far this earnings going forward, input
SWEDEN (Krona) 0.0585 -
slow government decision Securities. year, sharply down costs staying elevated and fis-
making. “This can only from $29 billion they cal deficit,” said K K Mital,
SWITZERLAND (Franc) 0.4190 0.4160
Cigarette and consumer come to a stop if large STOCKS invested in 2010. chief executive for portfolio
SYRIA (Pound) 0.07390 0.0074 goods major ITC, and frontline investors start buying, Analysts said sev- management services at Globe
TAIWAN (Dollar) 0.013000 - banking and auto stocks con- and one trigger for eral large- and mid- Capital.
THAILAND (Baht) 0.012460 0.012390 tributed most to the losses as that could be some major, mar- cap stocks were seeing selling Concerns were heightened
TURKEY (Lira) 0.2196 - investors expect growth to slow ket-friendly announcements on account of worries about after the Indian rupee skidded
UK (Sterling) 0.6025 0.6000 in coming quarters given rising from the government,” he said. high debt levels, a fall in the beyond 51 against the dollar
UAE (Dirham) 0.102800 0.102800 cost pressures, high interest The main 30-share BSE rupee impacting foreign loans earlier yesterday, to its lowest
USA (Dollar) 0.37800 0.37800
rates and a slump in the rupee. index fell 90.20 points, or and promoters facing pressure in 32 months, weighed down by
The benchmark index fell 0.55pc, to 16,371.51 points, its on shares pledged with lenders. rising oil import payments, and
Rates are in Bahraini dinars at 17.00 local time, Thursday. Rates are 4.8pc for the week, its worst lowest close in six weeks. More than $33bn worth of slowing exports and foreign
indications only. For firm rates or for currencies not listed above performance since the week Eighteen of its components shares have been pledged with inflows.
please call Bahrain Financing Company. Telephone: 17228888, Cigarette and consumer
Website: www.bfc.com.bh.
goods maker ITC, which has
Gulf Interbank Rates D seen strong gains in the past
two months, lost 2.9pc at
I 201.80 rupees – falling for the
1 US$ 1 UK Stg 1 SFR 100 Yen
BAHRAIN 0.3770 0.5964 0.4125 0.4909 L second straight day.
Banking shares continued
KUWAIT 0.2855 0.4517 0.3124 0.3717 B their downward trend on wor-
OMAN 0.3849 0.6089 0.4211 0.5012
QATAR 3.6420 5.7616 3.9847 4.7422 E ries that rising slippages and
provisioning due to high inter-
UAE 3.6730 5.8107 4.0186 4.7826 R est rates would impact earnings
SAUDI 3.7500 5.9325 4.1028 4.8828
T in coming quarters.
Dollar
Currency
Euro
Yen
November 18
$1.3518
76.94
Previous
$1.3520
76.95
SHIPPING
Swiss francs 0.9160 0.9164
Canadian dollars 1.0258 1.0227 Almoayed Wilhelmsen APL London APL due from Dammam December 29
Pound 1.5780 1.5795 Imports Dilmun Shipping Agency
Sagamore OOCL due from Europe, US, Far East today TS Qingdao Emirates due from Far East tomorrow
Sima Paya OOCL due from Europe, US, Far East tomorrow Cosco Fukuyama Misc due from Far East November 23
Oil Maersk Phuket
Winter D
OOCL due from Europe, US, Far East tomorrow
OOCL due from Europe, US, Far East November 21
CSCL Asia
TS Singapore
CSCL due from Far East November 25
Emirates due from Far East November 27
HS Bruckner NVOCC due from Europe, US, Far East Nove 21 Bunga Raya Tiga Misc due from Far East November 29
Oil delivery prices (in dollars per barrel) Maria TH EURIPOS due from Australia November 23 Gulf Agency Company
Nov 18 Hoegh America WWL/NMT due from Europe, US, Jebel Ali Nov 24 Aphrodite Leader NYK-CAR due from Far East tomorrow
(close) Maersk Phuket OOCL due from Europe, US, Far East November 27 Pucon CSAV/NOR due from Europe November 22
IPE Brent $107.56 Sima Paya OOCL due from Europe, US, Far East November 28 Positive Leader NYK-CAR due from Far East November 23
Evikos Theo BHP due from Australia November 30 Sheng Shi NYK-CAR due from Far East November 24
Nymex crude $97.41 APL Precision OOCL due from Europe, US, Far East December 1 Hyundai Confidence NYK due from Far East November 24
Orient Tide Samsung due from due from Australia December 1 Chaiten CSAV/NOR due from Far East November 24
GOLD Maersk Phuket
Sima Paya
OOCL due from Europe, US, Far East December 4
OOCL due from Europe, US, Far East December 11
Hanjin Breberhaven NYK due from Far East November 26
MSC Maureen CSAV/NOR due from Europe November 28
Maersk Phuket OOCL due from Europe, US, Far East December 18 CSAV Cantabrian CSAV/NOR due from Far East November 30
Gold bars Selling
Rates are in Bahrain Dinars Metal Prices Exports
Bux Crown OOCL to Far East, China, Southeast Asia, Inter
Maersk, Kanoo
Maersk Phuket Maersk due from Jebel Ali tomorrow
8gm coin 22k 163.000 Gulf tomorrow Maersk Phuket Maersk due from Jebel Ali November 27
8gm coin 21k 156.000 LONDON MARKETS Winter D OOCL to Far East, China, Southeast Asia, Inter National Shipping
1gm (24 carat) 24.000 Gold (per ounce) $1,724.20 Gulf November 21 Third Ocean HDSL due from Euorpe/ Mediterranean today
2.5gm 57.250 Silver (per ounce) $32.01 Bux Crown OOCL to Far East, China, Southeast Asia, Inter Silver Zone HDSL due from Euorpe/ Mediterranean today
5gm 110.500 Palladium $603.72 Gulf November 28 MSC Batrice MSC due from Euorpe/ Mediterranean November 21
10gm 216.500 Platinum $1,588.30 Alsharif Group MSC Madeleine MSC due from Euorpe/ Mediterranean November 21
20gm 429.500 (Three-month delivery) TS Qingdao TS Line due from Far East tomorrow Hope MSC due from Far East November 21
50gm 1,066.000 Aluminium ($ per tonne) 2,110.00 Winter Hanjin due from Far East November 21 AS Poseidon MSC due from Inter Gulf November 21
100gm 2,123.750 Copper ($ per tonne) 7,525.00 Hanjin Shenzhen Hanjin due from Far East November 21 YM North YML due from Far East November 21
1 ounce 665.000 Lead (per tonne) $ 2,059.00 Deira Hanjin due from US November 21 Cosco Korea Cosco due from Far East November 25
1 tola 251.500 Nickel (per tonne) $ 17,655.00 Hanjin Belawan Hanjin due from Inter Gulf November 21 Palmary HDSL due from Euorpe/ Mediterranean November 26
5 tola 1,240.750 Tin (per tonne) $ 21,275.00 TS Singapore TS Line due from Far East November 27 Parmis HDSL due from Euorpe/ Mediterranean November 26
10 tola 2,465.750 Zinc (per tonne) $ 1,965.00 APL, Bahrain MSC La Spezia MSC due from Euorpe/ Mediterranean November 28
1kg 21,049.750 APL Portugal APL due from Dammam November 24 Yusuf Bin Ahmed Kanoo
1kg silver 412.250 Bombay APL Tokyo APL due from Dammam November 27 Maersk Wave Hoegh, Europe due from Doha tomorrow
1/2kg silver 207.750 Gold 24K (per gram) Rs2,917.00 APL Precision APL due from Dammam December 1 APL Portugal MOL due from Dammam November 24
Gold 22K (per gram) Rs2,737.00 APL Tokyo APL due from Dammam December 8 Hoegh America Hoegh US due from Dammam November 25
• Courtesy Bahrain Express Gold (10g) Rs28,965.00 APL Paradise APL due from Dammam December 15 Alliance Charleston Hoegh US due from Karachi November 26
Exchange Tel: 17-275-275 Silver (1kg) Rs57,325.00 MOL Priority APL due from Dammam December 22 APL Precision MOL due from Dammam December 1