05042016Wed
Last update: Wed, 04 May 2016 10pm

Markets - FXMM

Markets - FXMM - Asia

Sri Lankan rupee rises after IMF loan announcement COLOMBO: Sentiment on the Sri Lankan rupee improved on Friday, as reflected in the forwards market, after the International Monetary Fund reached a staff-level agreement with the island nation for a $1.5 billion three-year loan. Traders said banks sold dollars on expectation that the local currency will appreciate. The spot rupee, which has barely seen any trading since Jan. 27, was not actively traded on Friday as well, but the movement in short-term dollar/rupee forwards indicated the rupee was being bid up. Before the market opened, the IMF said it had reached a staff-level agreement with Sri Lankan authorities for a $1.5 billion, three-year loan to help the island nation avert a balance of payments crisis. "Banks are selling dollars. With the IMF announcement, investors hope foreigners will buy more bonds and there are some remittance conversions expecting rupee to strengthen," said a local bank currency dealer, requesting not to ...


Markets - FXMM - Middle East & Africa

Nigeria's forex reserves fall 2.68pc to $27.14bn in April LAGOS: Nigeria's foreign exchange reserves fell by 2.68 percent to $27.14 billion as of April 27 from a month ago, when they were 27.87 billion, central bank data showed on Friday. The reserves declined by 5.55 percent from $29.51 billion a year ago. A plunge in oil prices has eaten into the foreign reserves of Africa's biggest economy, with the central bank adopting fixed exchange rate to protect further depletion of its reserves. Copyright Reuters, ...

Markets - FXMM - Asia

China raises yuan rate by most in 11 years SHANGHAI: China on Friday raised the exchange rate for the yuan currency against the US dollar by 0.56 percent from the previous day, the biggest increase in almost 11 years.The People's Bank of China (PBoC) fixed the yuan at 6.4589 to the greenback, according to the China Foreign Exchange Trade System, which operates the national foreign exchange market.It was the strongest daily increase in the rate since July 2005, Bloomberg News reported.China only allows the ...

Markets - FXMM - Asia

Yen hits 18-month high against dollar, eyes on Bank of Japan HONG KONG: The yen pushed back to 18-month highs against the dollar on Friday as a weak US economic growth reading compounded the Bank of Japan's shock decision not to beef up its stimulus.The Japanese unit surged Thursday after the BoJ stood pat on monetary policy, confounding expectations it would act after a double earthquake and a string of weak readings on the world's number three economy.Later that day the Commerce Department said US first-quarter ...

Markets - FXMM - Americas

Dollar nurses losses against yen after BoJ holds policy steady NEW YORK: The US dollar pared losses against the yen on Thursday, but was still on track to notch its biggest daily loss against the Japanese currency in eight months, after US consumer spending data provided some optimism on the US economic outlook.The dollar was last down 2.6 percent against the yen at 108.54 yen after the Bank of Japan's surprise decision not to further ease monetary policy. The greenback's last level against the yen ...

Markets - FXMM - Europe

Sterling resumes rally, climbs towards 12-week high LONDON: Sterling climbed versus the dollar on Thursday, returning towards 12-week highs against a US currency pegged back by expectations that the Federal Reserve is unlikely to raise interest rates any time soon. Gains in the pound were capped, though, after a YouGov poll for the Times showed opponents of Britain's European Union membership edging into the lead in the run-up to a June 23 referendum on the issue, despite an intervention on the "In" ...

Markets - FXMM - Middle East & Africa

South Africa's rand races to firmest in a week, stocks inch up JOHANNESBURG: South Africa's rand resumed a recent rally on Thursday, racing to a one-week high as emerging currencies lapped up the return of risk appetite after a string of disappointing data releases from the United States.Stocks inched up, buoyed by mining shares as the Fed's decision boosted gold and platinum prices. By 1600 GMT the rand had gained 1 percent to 14.2900 per dollar, the unit's firmest level since April 21. Government bonds were also ...