VIEWS: 2 PAGES: 1 POSTED ON: 4/9/2012
26 Gulf Daily News Monday, 2nd April 2012 CURRENCIES Exchange Rates COUNTRY SELL CASH SELL DRAFT essential guide to local and world markets AUSTRALIA (Dollar) 0.3982 0.3952 BANGLADESH (Taka) CANADA (Dollar) 0.00484 0.3858 0.00462 0.3818 Bahrain Bourse Total number of shares traded Total value of shares trades 689,098 BD30,316.770 CHINA (Yuan) 0.061100 0.0611 DENMARK 0.0708 - PRICES at the close of trading yesterday: SERVICES SECTOR BAHRAIN ALL SHARE INDEX 1,152.45 0.00 Bahrain Ship Repairing and Engineering Co 1.511 EGYPT (Pound) 0.0642 0.0630 Company Share Prices Change + or - Bahrain Car Park Company 0.160 BANKS SECTOR Bahrain Cinema Company 0.780 EUROPEAN UNION (Euro) 0.5105 0.5080 Ahli United Bank $0.633 Bahrain Duty Free Shop Complex 0.670 HONG KONG (Dollar) 0.04980 0.04940 Al Salam Bank (Salam) 0.048 Bahrain Maritime and Mercantile Intl 0.550 Bahrain Islamic Bank 0.090 Bahrain Telecommunications Company 0.434 INDIA (Rupee) 0.00769 0.00753 BBK 0.420 General Trading and Food Processing Co 0.260 Ithmaar Bank $0.090 Nass Corporation BSC 0.151 INDONESIA (Rupiah) 0.00004279 - Khaleeji Commercial Bank (KHCB) 0.041 Seef Properties BSC 0.102 IRAN (Tuman) 0.00021967 - National Bank of Bahrain 0.570 Sudan Telecommunications Company $1.75 The Bahraini Saudi Bank 0.071 INSURANCE SECTOR IRAQ (Dinar) 0.000315 - Bank Muscat 0.824 Al Ahlia Insurance Company 0.310 BANKS INVEST SECTOR Arab Insurance Group (ARIG) $0.430 JAPAN (Yen) 0.004710 0.004640 Al Baraka Banking Group BSC $0.930 Bahrain Kuwait Insurance Company 0.555 JORDAN (Dinar) 0.5343 0.5350 Arab Banking Corporation 0.420 Bahrain National Holding 0.398 Bahrain Commercial Facilities Co 0.424 Takaful International Company 0.290 KOREA (Won) 0.00038338 Bahrain Middle East Bank 0.066 HOTEL SECTOR KUWAIT (Dinar) 1.3630 1.363 Gulf Finance House $0.250 Bahrain Family Leisure Company 0.105 Gulf Monetary Group 0.035 Bahrain Tourism Company 0.286 MALAYSIA (Ringgit) 0.125200 0.1252 Inovest BSC $0.320 Banader 0.060 Investcorp Bank $796.950 Gulf Hotels Group 0.720 MALTA (Lira) - - TAIB Bank $2.730 National Hotels Company 0.445 NEW ZEALAND (Dollar) 0.3136 0.3126 United Gulf Bank 0.304 INDUSTRIES SECTOR United Gulf Industries Corp 0.161 Bahrain Flour Mills Company 0.366 NORWAY (Krone) 0.0684 - INVESTMENT SECTOR Delmon Poultry Company 0.224 AUB Preference A $0.400 IPO N. Yemen (Riyal) - - Esterad Investment Company 0.130 Aluminum Bahrain BSC 0.575 NEPAL (Rupee) 0.00538 0.00467 Global Investment House 0.150 CLOSED COMPANY SECTOR International Investment Group 0.301 Securities & Investment Co (Sico) 0.310 OMAN (Riyal) 0.98000 0.98300 United Finance Company SAOG $0.37 United Paper Industries BSC (UPI) 0.420 Deficit threat to Turkey growth PAKISTAN (Rupee) 0.00426 0.00417 PHILIPPINES (Peso) 0.00924 0.00881 QATAR (Riyal) 0.10379 0.10374 SAUDI ARABIA (Riyal) 0.10062 0.10065 ANKARA: The stellar growth Turkey has Finansbank chief economist Inan Demir. widened due to rapidly rising domestic SINGAPORE 0.3034 0.3024 enjoyed over the past two years may soon Turkey’s current account deficit – the demand, suggesting that “a period of weak- SOUTH AFRICA (Rand) 0.05100 0.05100 come to a swift end, analysts warn, as the broadest measure of trade with the rest of er domestic demand is needed to put the SRI LANKA (Rupee) 0.00330 0.00299 country’s economy shows signs of over- the world – has jumped to 10pc of overall current account on a sustainable footing.” heating. economic output. At this level it is worse Standard and Poor’s ratings agency SWEDEN (Krona) 0.0601 - Turkish government officials still paint than several euro zone countries struck by warned recently the high current account SWITZERLAND (Franc) 0.4265 0.4235 a rosy picture about the state of economy, the debt crisis, sparking concerns among deficit makes it “vulnerable to sudden SYRIA (Pound) 0.005570 0.0056 but the country’s widening current economists and analysts. financial account outflows and external account deficit is an Achilles heel that “What is more, over the past two years, refinancing risks.” TAIWAN (Dollar) 0.013300 - leaves it vulnerable to global financial the current account deficit has mostly While global markets rebounded in the THAILAND (Baht) 0.012480 0.012400 turbulence. been financed with short term borrowing, first couple of months of 2012 amid a lull TURKEY (Lira) 0.2184 - At the crossroads of Europe and the which means Turkey is facing a heavy in the euro zone debt crisis, shares have Middle East, Turkey has benefitted from a external debt service burden (to the tune slumped in recent weeks on concerns UK (Sterling) 0.6115 0.6090 boom in foreign investment and trade, and of $135 billion, 101bn euros) over the about global growth prospects. UAE (Dirham) 0.102800 0.102800 has been one of the engines of global next 12 months,” warned Demir. Capital Economics said growth over the last two years. Turkey’s current account def- appe- “signs that investor risk appe USA (Dollar) 0.37800 0.37800 It posted 8.9 per cent growth in 2010 – icit, which surged from just IN FOCUS tite is starting to weaken have Rates are in Bahraini dinars at 17.00 local time, Saturday. Rates are one of the highest in the world – and the over 2pc of GDP in 2009, is raised fresh concerns about the indications only. For firm rates or for currencies not listed above please OECD expects it to have grown by 7.4 partially due to the rise in oil prices, difficulty of attracting capital inflows to last year. according to William Jackson, emerging fund the current account deficit.” call Bahrain Financing Company. Telephone: 17228888, Website: www.bfc.com.bh. And it’s setting sights high to join the markets economist at Capital Economics. Turkey is not alone as the other emerg- ranks of the world’s top 10 economies by “Since Turkey is a large net oil import- ing markets which have driven growth in 2023, from 17th place currently. er, it is clearly worse off from higher oil past years are also slowing down – anoth- Gulf Interbank Rates But analysts warn the current growth prices,” he said. er worrying sign for the global economy. 1 US$ 1 UK Stg 1 SFR 100 Yen rate is unlikely to last. Turkey’s net energy imports were China, the second-biggest economy in BAHRAIN 0.3770 0.6004 0.4180 0.4586 “What GDP growth rates don’t reveal is equivalent to around 6pc of GDP in 2011 the world, has cut its 2012 growth target KUWAIT that the Turkish economy is now over- – accounting for over half of the total cur- to 7.5pc from a previous estimate of 8pc, heating,” said Capital Economics econo- rent account deficit of 10pc of GDP. as it swung into a trade deficit of $31.48bn 0.2855 0.4547 0.3165 0.3473 OMAN 0.3849 0.6130 0.4267 0.4682 mist Neil Shearing. But there is more to Turkey’s current in February. QATAR 3.6420 5.8002 4.0377 4.4307 The fast economic growth of the past account shortfall than simply the high cost The Turkish government forecasts 4pc UAE 3.6730 5.8495 4.0721 4.4684 two years “was accompanied by a rapid of energy imports, according to Jackson. growth in 2012 owing to the effects of the SAUDI 3.7500 5.9722 4.1574 4.5620 widening of the current account deficit,” The economist said the deficit has also euro zone crisis, but is confident that the predicted slowdown will be GOLD short-term. D But BNP Paribas said despite Gold bars Selling 1 ounce 638.000 I Turkey’s hopes for a soft landing, Rates are in Bahrain Dinars 1 tola 241.500 the imbalances inherited from 8gm coin 22k 8gm coin 21k 156.000 150.000 2 tola 5 tola 479.500 1,190.500 L 2011 including double-digit 1gm (24 carat) 23.500 10 tola 2,366.500 B inflation and current account 2.5gm 55.000 1kg 20,195.500 deficit limit the authorities’ room 5gm 106.000 1kg silver 408.500 E for manoeuvre in 2012. 10gm 208.000 1/2kg silver 202.000 R “Thus Turkey will remain vul- 20gm 412.000 nerable to changes in global risk 50gm 1,023.000 • Courtesy Bahrain Express T sentiment,” it warned in its 100gm 2,040.000 Exchange Tel: 17-275-275 Global Outlook report 2012. 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