Currency

By Lukanyo Mnyanda

The euro declined against the dollar, approaching a nine-year low, on speculation reports this week will strengthen the argument for sovereign-bond purchases from the European Central Bank.

The U.S. dollar, which rapidly strengthened in 2014, shook the world's several local currencies, strong or weak, last year. Many local currencies lost value against the dollar. The euro, especially in the second half of 2014, was seriously shaken, but nevertheless, its annual average value in 2014 was the same as its average annual value in 2013.

Greece's central bank said on Sunday that the situation with deposit outflows from the country was under control, as it tried to reassure markets ahead of a Jan. 25 snap election.

Greek media have reported that there have been significant deposit outflows in recent days due to political uncertainty two weeks ahead of early elections.

BELGRADE - Serbia's dinar dropped 0.3 percent against the euro on Friday, despite the National Bank Serbia (NBS) selling EUR 30 million in the Interbank Foreign Exchange Market (IFEM) on teh day before, and set the official exchange rate at RSD 122.6603 per one euro, the NBS said in a release.

Romania's exports reached 48.7 billion euro in the first 11 months of 2014, up by 6.5 percent, whilst imports recorded 54 billion euro, by 6 percent higher compared to January to November 2013, according to the data released on Friday by the National Statistics Institute (INS).

Photo credit: (c) Alex MICSIK / AGERPRES ARCHIVE

Currency again loses ground despite intervention

BELGRADE -- The Serbian dinar (RSD) dropped 0.3 percent against the euro (EUR) on Friday, the National Bank Serbia (NBS) has announced.

This happened despite the NBS selling EUR 30 million in the Interbank Foreign Exchange Market (IFEM) on Thursday.

By Stathis Kousounis

Fluctuating foreign currency rates may affect the number of tourism arrivals in Greece this season to a greater extent than in the last few years, according to the president of the Hellenic Hotel Federation, Yiannis Retsos.

The euro hit a nine-year low against the dollar on Thursday as bearish German manufacturing data suggested the European Central Bank may soon move to expand its bond-buying programme to bolster economic recovery.

By Simon Kennedy

Don?t believe the hype.

A reading of the German press suggests Chancellor Angela Merkel is at peace with the idea of Greece quitting the euro. Der Spiegel says her government views that as a manageable outcome; Bild reports that officials are preparing for the prospect. Lawmaker Michael Fuchs says Greece is no longer a threat to financial stability.

Greece's jobless rate fell to 25.8 percent in October from an upwardly revised 26 percent rate in September as the economy emerged from a six-year recession, Greek statistics agency ELSTAT said on Thursday.

October's reading was the lowest since August 2012 when unemployment stood at 25.5 percent. The record high was set in September 2013, when unemployment hit 28 percent.