ARAB TIMES, THURSDAY, DECEMBER 15, 2011
BUSINESS 46
Egypt offer pushes up eurobond Investcorp to make profit
Egypt’s decision to issue more struggles to finance a growing Redington India Limited’s planned repurchase of a 26 per-
dollar-denominated treasury bills deficit. cent stake it sold to Bahrain’s alternative investment firm
helped drive yields on its dollar That followed a grim warning Investcorp three years ago will result in a “decent profit” for
eurobond higher on Wednesday from Prime Minister Kamal al- the fund, a person familiar with the deal said Wednesday.
Traders work on the as the army-backed government Ganzouri on Sunday that the The stake, which Investcorp acquired for $98 million
floor of the New York sought to stave off the risk of a country’s economic situation was through its $1 billion Gulf Opportunity Fund I, will mark the
Stock Exchange. (AP) budget crunch. worse than anyone imagined and fund’s first exit when completed in early next year, the per-
The central bank said on austerity was required to reign in son added. Redington India Ltd said earlier on Wednesday
Tuesday it would offer $1 billion in a burgeoning budget deficit. that it was in talks with Investcorp to buy back the stake.
dollar-denominated one-year T- The yield on a 5.75 percent “The proposed share purchase is carried out through a
bills at an auction next week, its Egyptian eurobond maturing in share purchase agreement entered on December 13, 2011
second dollar offering in less than April 2020 surged to 7.8995 per- and expected to be completed in a three months’ time,” the
a month, as the government cent on Wednesday. (RTRS) statement said. (RTRS)
the bottomline Euro zone fears weigh on global
NEW YORK: Morgan Stanley said
Tuesday that it has reached a settlement
with insurance company MBIA Inc over
disputes involving mortgage-backed
investments.
said departing chief executive David Yu.
(RTRS)
❑ ❑ ❑
LONDON: SuperGroup, the British
company behind the Superdry fashion
equities; euro at 11-month low
It’s the latest sign that banks are work-
ing hard to clean up their balance sheets
brand, reckons the opening of a new flag-
ship store on London’s Regent Street will
Oil plunges on economy, OPEC worries
by getting rid of lawsuits involving poor- revive the firm’s fortunes after a tough
quality investments like mortgage backed first-half that saw profits fall 4 percent.
securities that lost value after the housing “Having one of the largest stores, that I
NEW YORK, Dec 14, The Standard & Poor’s 500 index fell would record a 2.5 billion loss this year, deepening euro zone crisis, failed expec-
bust. (Agencies): Global stock mar- 12, or 1 percent, to 1,214. The Nasdaq chiefly due to writedowns in its invest- tations of a new stimulus for the US
believe will be one of the busiest stores, fell 38 points, or 1.5 percent to 2,541. ment banking unit, and it would not pay economy and concerns that oil produc-
The agreement includes a cash pay-
ment of $1.1 billion from MBIA to
in one of the prime locations, in one of kets and the euro fell on The yield on the 10-year Treasury a dividend in order to retain capital. ing group OPEC may struggle to quick-
the great capitals of the world, for me it’s
Morgan Stanley, according to a person a game changer,” Chief Executive Julian Wednesday, hurt by worries note fell to 1.92 percent from 1.96 per- France’s CAC 40 was the worst per- ly cut production after formally agreeing
familiar with the settlement. The person Dunkerton told Reuters on Wednesday. over record-high borrowing cent late Tuesday as demand increased former among major European index- a high output ceiling.
was not authorized to speak publicly He said he hoped the first floor of the for ultrasafe assets. The dollar also rose es, falling 3.3 percent, followed by Oil together with other commodities
about the payment. The two companies Regent Street store would be trading at
costs for Italy and the Federal sharply against other currencies. The Italy’s FTSE MIB, which dropped 2.8 suffered from a stronger dollar as
did not publicly disclose the amount of the beginning of next week, with the Reserve’s decision to do noth- euro lost about out penny against the dol- percent. investors diverted money into the green-
the payment. (AP)
❑ ❑ ❑
remaining three floors open by April next ing new to support growth lar to $1.29. UK back to avert risk while the Reuters-
year. (RTRS) The steep drop in crude prices pulled Jefferies commodities index was down
NEW YORK: Shares of Jive Software ❑ ❑ ❑
despite warning that Europe’s Weakness in risk-sensitive commodity
down Cabot Oil & Gas Corp, Alpha by over 2 percent, the lowest since early
Inc, which makes Facebook-type social LONDON: Anglo-Dutch IT firm Logica
debt crisis could hurt the US Natural Resources Inc. and Apache issues and banks dragged Britain’s FTSE October and the sharpest drop since mid-
networks for businesses, soared in their economy. Corp. All three were down more than 3 100 index lower on Wednesday, with
public debut Tuesday after the company
said it was slashing more than 1,300 jobs,
concerns over the euro zone debt crisis November.
and again cut its 2011 growth forecast, in Anxiety about the euro zone crisis percent in early trading. The price of The Organization of Petroleum
priced its initial public offering above ratcheted up as Italy’s borrowing costs
expectations, raising $161 million.
response to worsening conditions in its deepening also led to a sell-off in com- crude oil sank $4 to $96 in morning trad- Exporting Countries (OPEC)agreed a
European markets. modities, with oil prices on track for ing. expanded to a record high.
Jive’s IPO comes during a busy week “We do see, pretty widespread now, The FTSE 100 index closed down new supply target of 30 million barrels a
for public offerings that are filling a clients taking decisions to pull in their
their biggest one-day drop since late Other commodities prices also fell day, roughly in line with current produc-
September. sharply as investors shed assets seen as 123.35 points, or 2.3 percent, at
seemingly insatiable investor demand for horns and waiting to see what is happen- 5,366.80, having rallied 1.2 percent on tion but did not put in place a mechanism
companies that harness the social side of ing with the euro crisis and the global Wall Street traded lower, with the being risky. Commodity prices also tend of individual country quotas.
the Internet. Zynga Inc, which makes Standard & Poor’s 500 index down 1.0 to fall when the dollar rises, since a Tuesday.
economy,” Chief Executive Andy Green “The FTSE 100 is in the process of Brent crude was down $3.23 a barrel
online games played mostly on Facebook, told reporters on Wednesday. percent. An index of top European stronger dollar makes it more expensive to $106.27 by 1552 GMT and US crude
is expected to go public later this week. Logica, which provides IT consulting for investors using other currencies to recording its fifth ever loss for the month
stocks tumbled 2 percent, while Tokyo’s fell by $4 to $96.13.
Facebook’s own IPO isn’t expected until and outsourcing to businesses and gov- buy commodities, which are priced in of December since being established as
after April, but it could dwarf even Nikkei closed down 0.4 percent. “The bigger picture is that the latest
ernments, downgraded its full-year rev- dollars. Gold and copper lost each 5 per- all the festive cheer is being sapped by
Google Inc’s 2004 public debut, fetching Investors were disappointed that the the continued lack of a lasting resolution demand forecasts from both OPEC and
enue growth forecast to about 3 percent, Fed gave no hints after its Tuesday meet- cent.
as much as $10 billion for the world’s from above 3 percent last month and 5 to the European debt crisis,” said Angus the IEA (International Energy Agency)
largest online social network. (AP) percent earlier in the year. (RTRS) ing of new stimulus measures to offset First Solar Inc. plunged 21 percent, still look too high and that oil prices have
the biggest drop in the S&P 500, after the Campbell, head of sales at Capital
❑ ❑ ❑ ❑ ❑ ❑
the effects of the European crisis. Spreads. further to fall,” Julian Jessop, chief econ-
The euro was down 0.5 percent largest US solar company slashed its omist at London-based Capital
LONDON: Extra British regulations and PARIS: Credit Agricole is to cut 2,350 against the US dollar at $1.2971. It broke earnings estimate for the year. The solar Mexican silver miner Fresnillo was
taxes on banks could cost Standard the top FTSE 100 faller, down 11.1 per- Economics, said in a note.
jobs, primarily in investment banking, a below $1.30 for the first time since industry has been hit hard by slower eco- The euro broke 11-month lows versus
Chartered Plc more than $500 million a union source told Reuters on Wednesday, cent, with the stock trading ex-dividend,
year and the industry is at risk from an January after Rome’s auction of five- nomic growth around the world and as the dollar below $1.30 after Rome’s auc-
as the French bank slashes costs and
government funding for alternative ener- and with its falls exacerbated by news
“avalanche” of new rules, the Asia- ploughs ahead with a back-to-basics strat- year debt, with foreign-exchange mar- that FTSE Group plans to increase the tion, with foreign exchange markets still
focused bank’s boss said on Wednesday. egy sped up by the eurozone debt crisis. kets still speculating that more rating gy projects has dried up. speculating that more rating downgrades
“It’s easy to get to a number north of Avon jumped 8 percent, the largest minimum free float requirement to be
The job losses include 1,750 at Credit downgrades were in prospect for euro- included in its indexes to 25 percent, up were in prospect for euro zone govern-
$500 million a year,” said Chief Agricole’s corporate and investment bank, zone governments. gain in the S&P 500. The company ments.
Executive Peter Sands, when asked by announced late Tuesday that its CEO, from 15 percent.
which employs 13,000 people, the source The dollar index, which tracks the Fresnillo and fellow commodity blue Analysts also questioned whether
lawmakers to estimate the cost in extra said, and 600 job at its factoring and con- greenback’s value against a basket of Andrea Jung, will step down. The cos-
regulations of being based in Britain. chips Essar Energy and ENRC will all be OPEC cap swiftly enforce production
sumer finance arms. currencies, was up for a third straight metics company has been struggling caps as Libya increases production.
That includes the UK banking levy, The source added 500 of the corporate affected by the FTSE rule change,
which will cost Standard Chartered about day to its highest level since January. It with erratic financial results and is under “How will they accommodate the
and investment banking jobs would be together with soon to be blue chip
$190 million this year. shed in France. (RTRS) was last up 0.4 percent at 80.594, slight- scrutiny by regulators. Russian miners Evraz and Polymetal, return of Libyan production which could
“I am concerned that there is an ava- ly off its earlier highs. The Dow is now down 2.8 percent for be 1.4 million barrels per day by the end
❑ ❑ ❑ and FTSE 250 firm Ferrexpo , all of
lanche of new regulations ... there is a real The stronger US dollar was also hav- the week, while S&P has lost 3.3 per- which were lower. of 2012?” said Christophe Barret, ana-
danger in the quantum and complexity of MADRID: Spanish firm Inditex, the ing an impact on oil and industrial com- cent. The Nasdaq is down 4 percent. lyst at Credit Agricole Corporate &
regulatory change,” Sands said. (RTRS) world’s biggest clothes retailer, boosted modity prices, which were mostly softer. Europe Asia Investment Bank.
❑ ❑ ❑ its profits 10 percent by opening hundreds Gold fell 3.1 percent to $1,580.60 an Asian stocks fell Wednesday after the
of new stores from February to October, it
ounce, its lowest since late September, European shares fell to a two-week Currencies
LONDON: British insurance acquisition said on Wednesday. Federal Reserve refrained from offering
after the euro’s decline encouraged more closing low in thin volume on new initiatives to help a slowly recover- The euro is falling against the dollar
specialist Resolution said its founder, Net profit for Inditex, owner of the Wednesday as revived talk of a down-
Clive Cowdery, had bought over 600,000 Zara brand, rose to 1.302 billion euros non-US investors to take profit on their ing US economy. on renewed fears that European leaders
pounds’ ($932,300) worth of its shares as bullion holdings. grade of France’s sovereign rating added Japan’s Nikkei 225 index fell 0.8 per- won’t be able to solve the region’s grow-
($1.697 billion), 10 percent higher than
a personal investment, in a sign the group for the same period a year earlier, said the to concerns that the euro zone crisis will cent to 8,787.68. South Korea’s Kospi ing debt crisis.
is not planning further takeovers.
US curb global growth.
group, which counts its financial year lost 0.4 percent at 1,856.46 and Hong The euro fell to $1.2973 in midday
Insurance entrepreneur Cowdery from February. (AFP) Stocks and the euro fell Wednesday as The pan-European FTSEurofirst 300 Kong’s Hang Seng shed 0.2 percent to trading Wednesday from $1.3043 late
bought 240,000 Resolution shares at ❑ ❑ ❑ worries over Europe hang over financial index of top shares closed 2.1 percent 18,413.79. Australia’s S&P/ASX 200 Tuesday. It fell to $1.2943 earlier, its
252.91 pence per share, the company said markets. Energy companies fell hard as down at 952.42 points, after extending lowest point since Jan. 7.
in a regulatory filing on Wednesday. TOKYO: Scandal-hit Olympus on rose less than 0.1 percent to 4,196.40.
the price of crude oil plunged 4 percent. losses in the afternoon on trader talk that Benchmarks in mainland China, In other trading, the British pound fell
Cowdery, who founded Resolution in Wednesday filed its delayed earnings
report to the Tokyo Stock Exchange, The Dow Jones industrial average fell France, a key contributor to Europe’s Singapore and Indonesia fell while to $1.5446 from $1.5487. The dollar rose
2008 to buy underperforming British life rescue fund, is set to lose its triple A rat-
insurers and merge them into a profitable avoiding an automatic delisting that 106 points, or 1 percent to 11,849 as of Taiwan, India and the Philippines rose. to 78.05 Japanese yen from 77.97 yen.
whole, is in charge of the group’s acquisi- would have wiped out the value of the 92- 11 a.m. (1500 GMT). Caterpillar Inc. fell ing, a development that could jeopardise Export shares in Japan were under
year-old company. 3.4 percent, the most of the 30 stocks in the euro zone’s efforts to stem its debt Gold
tion strategy and would be barred from pressure as the yen strengthened against
investing in its shares if he knew of any Shortly after the Tokyo bourse closed the Dow. crisis. Gold tumbled to its lowest level
for the day, the company revealed it had
a shaky euro. Sharp Corp dropped 3 per- since early October on Wednesday, set
forthcoming deals, analysts said. (RTRS) The Dow is headed for its third down The FTSEurofirst 300 traded at 86 cent while Toshiba Corp lost 1.7 percent.
❑ ❑ ❑ lost 32.3 billion yen ($414 million) in the day in a row. It closed at its lowest level percent of its 90-day average volume as for its weakest monthly performance
first half of the year, amid a massive Honda Motor Corp slid 2.6 percent. since September, as a weak euro and a
in two weeks Tuesday. the approaching holiday season drove
LONDON: Betfair Group, the world’s accounting scandal that has badly tar- The market appears to be in “sell some investors out of the market.
Chinese property shares dropped after shortage of dollar funding over the
largest betting exchange, reported first nished the image of Japan Inc. the government signaled that it would
half core earnings at the top end of expec- The loss by the camera and medical now and ask questions later mode,” In a bearish signal, the index fell maintain price curbs on real estate. year-end prompted investors to sell
tations, driven by a good start to the soc- instrument maker compares with a net said John Canally, investment strategist below its 50-day moving average of Hong Kong-listed China Vanke Co. aggressively.
cer season and a surge in mobile phone profit of 3.81 billion yen for the same at LPL Financial. The fear that another 967.35, although further share price fell 1.4 percent and Evergrande Real Gold has lost about 8.0 percent in
betting. period a year earlier. bank failure will lead to a wider finan- volatility was on the cards for the rest of Estate Group dived 3.3 percent. value so far this month, on course for
Betfair, founded 10 years ago by one- Two months to the day after Olympus cial crisis like Lehman Brothers did in this week ahead of a futures and options its weakest December performance
time professional gambler Andrew Black dumped British chief executive Michael Australia’s Westpac Banking Corp.
2008 overshadows everything else, he expiries on Friday, traders said. was down 0.2 percent after the bank since 2008 and its third-largest month-
and former JP Morgan trader Edward Woodford for his complaints about appar- said. French lenders Societe Generale, BNP ly sell-off in three years, the point at
Wray, said the total value of bets rose 7 ent gaping holes in the balance sheet, the warned that net interest margins, and
In traders’ minds, a slight drop in the Paribas and Credit Agricole fell between revenues in its markets business, were which the global credit crunch was at
percent in the first half and it expects to company pledged to mend its ways.
make further progress in the second half. “It has been revealed that our company euro or a small rise in Italian government 6.7 percent and 8 percent, underperform- being impacted by Europe’s debt cri- its worst.
“These results were driven by an excel- had announced false financial statements bond yields is seen as a step toward a ing the European banking sector, down sis. Spot gold was down nearly 3 percent
lent exchange performance following a by delaying reporting losses from stocks banking collapse. “Just the hint of bad 2.7 percent. on the day at $1,585.49 an ounce by
very positive start to the football season and other investments,” it said in a state- news becomes ‘Oh my gosh. The world Adding to concerns over French Oil 1610 GMT, its lowest since late
and improved monetisation of activity,” ment. (AFP) is going to end,’ “ Canally said. banks’ solidity, Credit Agricole said it Oil fell $4 on Wednesday amid a September.
exchange rates – Dec 14
US dollar Sterling pound Euro Japanese yen Swiss franc Canadian dollar Swedish kroner Saudi riyal UAE dirham Bahraini dinar Omani riyal
Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer
BEC Buy .274300 .276700 .276700 .426100 .425100 .425100 .359000 .359000 .359000 .349000 — — .289400 .290400 .290400 .265200 .263200 .263200 .374000 — — .073760 .073810 .073810 .075580 .074480 .074480 .733600 .733100 .733100 .718640 .713140 .713140
Sell .279200 .278800 .278800 .436100 .434100 .434100 .368000 .366500 .366500 .367000 — — .298900 .297400 .297400 .273700 .272200 .272200 .424000 — — .074450 .074450 .074450 .076030 .075930 .075930 .741600 .741600 .741600 .724320 .724140 .724140
Muzaini Sell .277800 .279000 .279000 — .434120 .434120 — .365070 .365070 — .003600 .003600 — .196810 .298450 — .271530 .271530 — — — — .074430 .074430 — .076001 .076001 — .741330 .741330 — .724960 .724960
Dollarco Sell .277500 .277300 .277300 .438000 .433585 .433585 .376000 .374190 .374190 .003600 .003650 .003650 .305000 .301285 .301285 .272000 .275560 .275560 — — — .073750 .073785 .073785 .076500 .075475 .075475 .738000 .734320 .734320 — — —
Commercial Bank Buy .273000 .276900 .276900 .430000 .432338 .432338 .363000 .365508 .365508 — .003556 .003556 .293000 .295612 .295612 .267000 .269870 .269870 — .040312 .040312 .070000 .073860 .073860 .070000 .075174 .075174 .732394 .734775 .734775 .717980 .719501 .719501
Sell .280000 .279000 .279000 .440000 .435617 .435617 .373000 .368280 .368280 — .003583 .003583 .308000 .297854 .297854 .277000 .271917 .271917 — .040617 .040617 .076000 .074420 .074420 .076000 .075929 .075929 .739755 .740348 .740348 .725196 .724958 .724958
Gulf Bank Buy .275100 .277600 .277600 .424534 .428392 .428392 .357107 .360352 .360352 — .003542 .003542 — .291933 .291933 — .267231 .267231 — .039516 .039516 .073203 .073935 .073935 .074755 .075502 .075502 .728163 .735442 .735442 .712971 .720098 .720098
Sell .281700 .279700 .279700 .438203 .435092 .435092 .369052 .366432 .366432 — .003607 .003607 — .297730 .297730 — .272292 .272292 — .040220 .040220 .075260 .074726 .074726 .076862 .076316 .076316 .748604 .743289 .743289 .733211 .728006 .728006
NBK Buy .272600 .277600 .277600 .428140 .429640 .429640 .359910 .361410 .361410 — .035544 .035544 .289070 .293070 .293070 — .268190 .268190 — .039640 .039640 .072960 .073960 .073960 .075360 .075530 .075530 .734240 .735850 .735850 .720570 .720570 .720570
Sell .281200 .279700 .279700 .436300 .433300 .433300 .367850 .364850 .364850 — .035892 .035892 .298310 .295810 .295810 — .270640 .270640 — .040040 .040040 .075620 .074620 .074620 .076120 .076170 .076170 .741620 .742330 .742330 .726800 .726800 .726800
Burgan Bank Buy .282650 .280050 .282150 .430867 .434357 .434357 .385350 .370604 .370604 — .003438 .003438 .294732 .299506 .297119 .277897 .286988 .286988 — .041155 .041155 .073684 .075640 .074280 .075223 .077237 .075832 .734920 .740873 .740873 .735741 .725198 .725198
Sell .278800 .282150 .275600 .438531 .437755 .437755 .372160 .373524 .373524 — .003466 .032931 .300037 .344170 .299506 .282890 .277020 .277020 — .041482 .041482 .075774 .072340 .075640 .077374 .074510 .077237 .751728 .750398 .750398 — .734440 .734440
ABK Buy .275100 .277600 .277600 .425170 .429640 .429640 .357770 .361530 .361530 — .035545 .035545 — .293090 .293090 — .268210 .268210 — .039540 .039540 .073050 .073810 .073810 .075174 .075310 .075310 — .734410 .734410 — .719020 .719020
Sell .281200 .279700 .279700 .436840 .433810 .433810 .367950 .365390 .365390 — .036027 .036027 — .296910 .296910 — .271510 .271510 — .040310 .040310 .075140 .074610 .074610 .075929 .076210 .076210 — .742720 .742720 — .726740 .726740
Oman Buy — .287900 .287900 — — — — — — — — — — .283340 — — — — — — — .076800 .076800 — .078390 — — — — .752000 — —
Sell — .287900 .467000 .475000 .475000 .406000 — .003200 .003200 — — — .267000 — — — .076800 .078600 .078390 — — — — .748000 .759930
Danish kroner Indian rupee Pakistani rupee Sri Lanka rupee Bangladesh taka Philippine peso Australian dollar Hong Kong dollar Singapore dollar Jordanian dinar Egyptian pound
Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Transfer Transfer Cash Draft Transfer
BEC Buy .046600 — — .005270 .005150 .005150 .003040 .003100 .003100 .002077 .002147 .002147 .003170 .003452 .003452 .006490 .005870 .005870 .271700 .269700 .269700 .033790 .033290 .033290 .213070 .212070 .212070 .388520 .387640 .387640 .045520 .044306 .044306
Sell .516000 — — .005710 .005215 .005215 .003320 .003135 .003135 .002657 .002447 .002447 .003820 .003490 .003490 .006760 .006330 .006330 .283200 .281700 .281700 .036540 .036390 .036390 .217570 .217570 .217570 .396092 .395140 .395140 .048620 .046326 .046326
Muzaini Sell — — — – .005191 .005191 — .003110 .003110 — .002445 .002445 — .003468 .003468 — .006319 .006319 — — — — .035858 .035858 — .214120 .214120 — .394150 .394150 .048250 .046372 .046372
Dollarco Sell — — — .005800 .005400 .005400 .003400 .003126 .003126 .002700 .002431 .002431 .003750 .003527 .003527 .006600 .006401 .006401 — — — — — — — — — .390000 .390335 .390335 .048500 .046192 .046192
Commercial Bank Buy — .049156 .049156 .004000 — — — — — .002000 — — — — — .004000 — — .277000 .279309 .279309 — .035588 .035588 — .212722 .212722 .381000 — — .043000 — —
Sell — .049529 .049529 .007000 .005264 .005264 — .003142 .003142 .003500 .002456 .002456 — .003638 .003638 .007200 .006406 .006406 .286000 .281427 .281427 — .035858 .035858 — .214335 .214335 .401000 .394625 .394625 .053000 — —
Gulf Bank Buy — .048435 .048435 — — — — — — — — — — — — — — — — .276628 .276628 — .035553 .035553 — .211779 .211779 — — — — — —
Sell — .049308 .049308 — .005275 .005275 — .003165 .003165 — .002481 .002481 — .003663 .003663 — .006422 .006422 — .281945 .281945 — .036137 .036137 — .215354 .215354 — .396175 .396175 — .046625 .046625
NBK Buy — .048590 .048590 — — — — — — — — — — — — — — — — .277880 .277880 — — — — .212490 .212490 — — — — — —
Sell — .049070 .049070 — — — — — — — — — — — — — — — — .280440 .280440 — — — — .214520 .214520 — — — — — —
Burgan Bank Buy — .049750 .049750 — .006283 .006283 — .003233 .003233 — .002546 .002546 — .004017 .004017 — .006449 .006449 — .284712 .286988 — — — — .216673 .222630 — .394853 .394853 — .047830 .047830
Sell — .050250 .050250 — .006026 .006026 — — — — — — — — — — — — — .286988 .293390 — — — — .218433 .216673 — .398939 .398939 — .049026 .049026
ABK Buy — .048450 .048450 — .005135 .005135 — .003248 .003248 — .002546 .002546 — — — — .006636 .006636 — .278080 .278080 — .035690 .035690 — .212480 .212480 — .390170 .390170 — — —
Sell — .049520 .049520 — .005224 .005224 — — — — — — — — — — — — .280980 .280980 — .035950 .035950 — .214800 .214800 — .396700 .396700 — .046810 .046810
Oman Buy — — — — — — .003564 .003564 — .002510 .002510 — .004170 .004170 .006000 .006467 .006467 .237000 — — — — — — — 222950 — .401670 .401670 — — —
Sell — — — .004250 .237000 .237000 — — — — — — .415000 .415000 .415000 .056000 —
Cyprus Pound Yemeni riyal Thai baht South African rand Korean won Syrian pound Iranian tuman Lebanese pound Malaysian ringgit Indonesian rupiah New Zealand dollar
Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer Cash Draft Transfer
BEC Buy .534700 — — .114000 — — .086700 .085500 .085500 .027530 .027530 .027530 — — — .005100 .005100 .005100 .000214 — — .000177 .000181 .000181 .084490 .083490 .083490 .026000 .026000 .026000 .205500 .203500 .203500
Sell .547700 — — .122000 — — .093700 .091500 .091500 .036030 .036030 .036030 — — — .005300 .005300 .005300 .000214 — — .000189 .000188 .000188 .090490 .090490 .090490 .032000 .031000 .031000 .215000 .203500 .203500
Muzaini Sell — — — — .001277 .001277 — .089350 .089350 — — — — — — — .006025 .006025 .000273 .000271 .000271 — .187200 .187200 — — — — — — — — —
Gulf Bank Buy — — — — — — — — — — — — — — — — — — — — — — — — — – — — — — — .208560 .208560
Sell — .704579 .704579 — — — — — — — .033692 .033692 — .000242 .000242 — — — — — — — — — — — — — .000031 .000031 — .213258 .213258
ABK Buy — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — .209470 .209470
Sell — — — — — – – – — — — — — — — — — — — — — — — — — — — — .212780 .212780
travellers cheques US dollar Sterling Euro local gold Gold 999 kg Gold 999 10 tola Gold ounce Gold gm 22k Gold gm 21k Gold gm 18k 100 gm 999 10 gm 999 All rates in KD per unit of foreign currency
BEC .2788000 .4341000 – BEC — 1,714.320 — — — — – –
Commercial Bank .2800000 .4400000 .3730000 Muzaini Exchange — 1,732.000 — 13.510 12.890 11.050 — 153.50
Gulf Bank .2797000 .4350920 .3664320
Al-Ahli Bank .2797000 .4338100 .3653900