02152016Mon
Last update: Mon, 15 Feb 2016 02am

Markets - FXMM

Markets - FXMM - Middle East & Africa

Egyptian pound slips further on black market, official rate unchanged CAIRO: The Egyptian pound continued to weaken on the black market on Sunday, piling more pressure on the central bank to devalue the currency even as the official rate against the dollar remained unchanged at an auction.Egypt, which heavily relies on imports for its food and energy needs, is facing a foreign currency crisis with the pound trading at substantially lower rates on the black market than the rate set by the central bank.The central bank surprised the market in November when it strengthened the pound by 20 piasters and has held it steady at 7.73 pounds to the dollar since then.At Sunday's auction, the bank sold $39.1 million at a cut-off price of 7.7301 pounds to the dollar, unchanged from the previous auction on Thursday.The black market rate was 8.72 pounds per dollar, compared with a range of 8.63-8.68 traders quoted on Wednesday, even though some traders and bankers ...


Markets - FXMM - Asia

EM ASIA FX-Weekly Asia FX gains seen ahead of US jobs data SINGAPORE: Most emerging Asian currencies rose on Friday ahead of US jobs data due to be released later in the global day, leaving them set to post another week of gains on speculation that the Federal Reserve will raise interest rates more slowly than previously expected.Investors unwound bearish bets on regional units further as the US dollar wallowed at a 15-week low against a basket of six major currencies.The greenback lost ground following data showing ...

Markets - FXMM - Asia

South Korean won, shares close up ahead of US payrolls SEOUL: The South Korean won trimmed earlier gains on Friday afternoon, as investors grew cautious ahead of US jobs data which could provide clues on the timing or pace of the Federal Reserve's interest rate rises. The won ended local trade up 0.4 percent at 1,197.4 against the dollar. On a weekly basis, the won skidded 0.1 percent. Seoul shares inched up in subdued trading ahead of the Lunar New Year break. The Korea Composite ...

Markets - FXMM - Middle East & Africa

South Africa's rand flat ahead of US jobs data JOHANNESBURG: South Africa's rand weakened slightly early on Friday, pausing a rally that has seen the unit trade below the crucial 16 rand per dollar mark for three straight sessions as global risk appetite has improved. Stocks were set to open flat at 0700 GMT, with the JSE securities exchange's Top-40 futures index slipping 0.1 percent. By 0645 the rand was flat at 15.8995 per dollar, easing off its firmest level in one month after ...

Markets - FXMM - Asia

Sri Lankan rupee forwards firmer on dollar selling by banks COLOMBO: Sri Lankan rupee forwards traded slightly firmer on Friday as dollar selling by banks surpassed the mild demand for the greenback from importers, dealers said. Rupee forwards have been active since Jan. 27 due to little trading in spot currency with banks reluctant to trade below the 144.00 level amid moral suasion by the central bank. Officials from the central bank were not available for comment.Dealers said one-week rupee forwards, which act as a ...

Markets - FXMM - Middle East & Africa

Kenya's shilling steady, helped by some offshore inflows NAIROBI: Kenya's shilling was steady in early trading on Friday, with some offshore dollar inflows offering support.By 0708 GMT, the shilling was quoted at 102.10/30 to the dollar, little changed on Thursday's close of 102.10/20.One trader said some offshore investors had sold dollars. "We saw some of them having some interest in government securities," he said.Copyright Reuters, 2016

Markets - FXMM - Europe

Rouble falls with oil ahead of US jobs report MOSCOW: The Russian rouble fell on Friday morning, tracking the oil price lower, with markets cautious ahead of monthly US jobs data that may influence the dollar. At 0755 GMT, the rouble was 0.3 percent weaker against the dollar at 77.22 and had lost 0.3 percent to 86.46 versus the euro. Brent crude oil, a global benchmark for Russia's main export, was down 0.7 percent at $34.2 a barrel. "Oil as before remains the basic ...