Last Updated: Thursday, August 21, 2008 (Indicative Rates)
Interest Rates
 |
Fed Funds | 2.00 % |
 |
Discount Rate | 5.75 % |
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Repo Rate | 3.50 % |
KWD Interbank Offered Rate (KIBOR)
| 1M | 4.75 % | 1Y | 5.18 % | |
| 3M | 4.93 % | 2Y | 5.31 % | |
| 6M | 5.06 % | 3Y | 5.50 % |
Foreign Currency
| 3 Month Offer | 10 YR Treasury | 30 YR Treasury | ||
|
|
USD | 2.81 % | 3.80 % | 4.44 % |
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EUR | 4.95 % | 4.13 % | 4.58 % |
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JPY | 0.87 % | 1.43 % | 2.30 % |
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GBP | 5.76 % | 4.54 % | 4.42 % |
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CHF | 2.74 % | 2081 % | 3.27 % |
Exchange Rates
| LAST | YTD | |
|
/
|
1.4774 | 1 % |
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/
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109.61 | -1 % |
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/
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1.8646 | -6 % |
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/
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1.0970 | -3 % |
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/
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0.26720 | -2 % |
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/
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161.93 | 0 % |
Commodities (USD)
| LAST | YTD | |
| Gold Oz | 816.20 | -2 % |
| Silver Oz | 13.24 | -10 % |
| Oil Brl | 109.12 | 16 % |
Stock Markets
| LAST | YTD | ||
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DOW JONES | 11,417 | -14 % |
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NASDAQ | 2,389 | -9 % |
 |
DAX 30 | 6,317 | -21 % |
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NIKKEI 225 | 12,792 | -16 % |
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FTSE 100 | 5,371 | -16 % |
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CAC 40 | 4,365 | -22 % |
Kuwait Stock
| LAST | YTD | |
| Index | 14,671 | 16 % |
| Bkg. Sector | 14,053 | 0 % |
| Bus. Sector | 26,205 | 23 % |
| Ind. Sector | 10,311 | 24 % |
| Ins. Sector | 3,791 | 10 % |
| Invst. Sector | 18,135 | 13 % |
| Real Est. Sector | 7,489 | 29 % |
Economic Indicators
| Time (KST) | Location | Description | Forecast | Previous |
| 17:00 |
|
Jul Leading Indicators | -0.2% | -0.1% |
Foreign Exchange
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The U.S. dollar rose on Wednesday, snapping a two-day losing streak, supported by perceptions that slowing global economic growth would prompt a wave of interest rate cuts outside the United States. EUR ended in New York at 1.4741/45 while in the Far East it was trading at 1.4772/76. Support is seen at 1.4725 resistance is seen at 1.4825. |
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The greenback clung to gains in quiet trade despite a rebound in crude oil prices to around $115 a barrel. The dollar index came within striking distance of its 2008 highs touched on Tuesday. JPY ended in New York at 109.80/84 while in the Far East it was trading at 109.58/63 Support is seen at 109.00 and resistance is seen at 110.00. |
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Sterling fell against the dollar on Wednesday after minutes from the Bank of Englands August meeting showed a nervous Monetary Policy Committee split three ways on the direction of British interest rates. GBP ended in New York at 1.8615/19 while in the Far East it was trading at 1.8644/48. Support is seen at 1.8600 and resistance is seen at 1.8700. |
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The Swiss franc traded close to a six-month low against the dollar on Wednesday as concerns about a U.S. slowdown spreading to other economies supported the greenback. CHF ended in New York at 1.0987/93 while in the Far East it was trading at 1.0967/72 Support is seen at 1.0920 and resistance is seen at 1.1020. |
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Kuwait let its dinar unchanged around a mid point of 0.26720 from 0.26720 per dollar, the central bank said. |
Money Market
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Inter-bank market suffered tight liquidity on Wednesday and with that over-night rate sky rocketed to 10 % as most banks sought funds to cover their short position. Other short dates also remained well bid with no offer available. No activity was seen in the fixed dates and all banks showed just bid around 5 - 6 % level. This is a one way market now. Central bank remained on side lines with no action of injecting any fresh liquidity to the system. |
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Short-term Treasury bond yields fell to three-month lows on Wednesday as worries surrounding mortgage finance giants Fannie Mae and Freddie Mac reached fever pitch. USD LIBOR was fixed at 2.47 for one month, 2.81 three months, 3.12 six month, 3.17 nine months and 3.23 one year. Treasury yields of 2 years 2.25, 5 years 3.01, 10 years 3.79 and 30 years 4.43. |
Stock Market
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European shares closed up on Wednesday, lifted by commodity stocks, but recovering only a fraction of their previous sessions losses. |
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The Nikkei average dipped 0.1 percent on Wednesday, with Toyota Motor and other exporters sliding on a bleak outlook for the global economy, while bank shares fell on worries about the U.S. financial system. |
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Britains top share index ended 1 percent higher on Wednesday, snapping a three-session losing run, as commodity stocks rallied on the back of firmer metal and crude prices. |
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The Kuwait Stock Exchange gained 19.60 points to close at 14,671.00 points. |
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U.S. stocks rose on Wednesday as bank and energy shares rebounded even as investors dumped Fannie Mae and Freddie Mac on fears of an imminent government bailout of the housing finance companies. |
