05012016Sun
Last update: Sun, 01 May 2016 10pm

Asia

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 - 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 - Asia

Sri Lankan 5-day rupee forwards end firmer on bank dollar sales COLOMBO: Sri Lankan five-day rupee forwards ended slightly firmer on Wednesday due to dollar sales by foreign banks, which was to facilitate offshore bond buying, while importers awaited direction on the currency, dealers said."There were (dollar) selling by some foreign banks. Probably foreigners are buying bonds," said a local bank currency dealer, requesting not to be named.A dealer from a foreign bank said foreign investors have been gradually buying in government securities and more inflows ...

Markets - FXMM - Asia

Dollar weakens ahead of Fed policy decision TOKYO: The dollar fell on Wednesday as traders look to a Federal Reserve policy meeting for more clues about its timeline for raising interest rates.The US central bank is expected to leave key rates unchanged after wrapping up its policy-setting meeting later Wednesday, but markets want to see if provides any future guidance.After the turmoil that hammered world markets at the start of the year, US policymakers have lowered expectations for rate increases in 2016, ...

Markets - FXMM - Asia

Sri Lankan 5-day rupee forwards end slightly weaker on dollar demand COLOMBO: Sri Lankan five-day rupee forwards edged lower despite a state-run bank selling dollars to offset greenback demand from importers, while investors awaited clarity on key policy rates, dealers said.The central bank is expected to keep rates steady at its April monetary policy announcement later in the day, a Reuters poll showed, but a surprise hike is not ruled out.Five out of 11 analysts expect the central bank to raise rates to keep government borrowing ...

Markets - FXMM - Asia

Dollar slips ahead of US, Japan central bank meetings TOKYO: The dollar weakened against its major peers Tuesday ahead of a Federal Reserve meeting as the shaky global economy weighs on hopes for a summer US rate hike, with a Bank of Japan gathering also in focus.Dealers are hoping the Fed will provide clues about the state of the world's biggest economy as it wraps up its two-day meeting Wednesday, while first quarter growth figrues are also due for release this week.In December, the ...