Tuesday, 20 December 2011 11:19
Posted by Shoaib-ur-Rehman Siddiqui
SHANGHAI: The yuan fell slightly against the dollar in see-saw trade on Tuesday after the People's Bank of China set a weaker mid-point, but the Chinese currency mostly traded in a narrow range.
Some investors sold yuan in early trade, continuing to speculate about its potential depreciation in the mid-term, but strong pressure from the Chinese central bank pulled the yuan back slightly.
"Today's moves have been volatile. After the yuan hit around 6.35, big banks offered dollars, which reflects the central bank's strong intention to halt expectations of yuan depreciation," said a dealer at a Chinese bank in Beijing.
Spot yuan was trading at 6.3415 against the dollar by midday, down slightly from 6.3378 at the close on Monday.
The yuan has still risen 3.91 percent so far this year and 7.64 percent since it was depegged in June 2010.
Before trading began, the PBOC fixed the day's mid-point at 6.3351, slightly lower ...
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SHANGHAI: The yuan fell slightly against the dollar in see-saw trade on Tuesday after the People's Bank of China set a weaker mid-point, but the Chinese currency mostly traded in a narrow range.
Some investors sold yuan in early trade, continuing to speculate about its potential depreciation in the mid-term, but strong pressure from the Chinese central bank pulled the yuan back slightly.
"Today's moves have been volatile. After the yuan hit around 6.35, big banks offered dollars, which reflects the central bank's strong intention to halt expectations of yuan depreciation," said a dealer at a Chinese bank in Beijing.
Spot yuan was trading at 6.3415 against the dollar by midday, down slightly from 6.3378 at the close on Monday.
The yuan has still risen 3.91 percent so far this year and 7.64 percent since it was depegged in June 2010.
Before trading began, the PBOC fixed the day's mid-point at 6.3351, slightly lower ...
TOKYO: The euro edged down in early Asian trade on Tuesday, creeping closer to an 11-month low hit last week after European Central Bank President Mario Draghi quashed hopes for more aggressive bond purchases that have helped control European yields.
The euro was at $1.3007, above an 11-month low of $1.2944 hit last week and a Monday session low of $1.2983 but well off Monday's high of $1.3044.
Resistance lies at $1.3090, which would be a ...
MUMBAI: The Indian rupee weakened early on Tuesday as fragile global sentiment after the death of North Korea leader Kim Jong-il raised fears of regional instability, prompting investors to pull money out of riskier assets.
At 9:02 a.m. (0332 GMT), the rupee was at 52.95/52.98 to the dollar after hitting 53. It ended 0.3 percent weaker at 52.88/90 on Monday.
Traders said they were watching the central bank for any intervention to support the rupee, which ...
SHANGHAI: The yuan ended at a new high against the dollar on Monday as investors saw little room for prolonged weakness after the Chinese currency was earlier pushed lower by a surging dollar.
Dealers said the yuan was merely clawing back losses against the dollar in afternoon trade after being dragged down by data showing signs of capital outflow from China, and news of the death of North Korea's leader sparked safe-haven dollar demand.
"Actually, the dollar ...
SHANGHAI: The yuan fell slightly against the dollar on Monday, shrugging off the central bank's stronger mid-point fixing, weighed by a firmer dollar and more signs of capital outflow from China.
The dollar index bounced 0.25 percent by early afternoon to 80.4 following North Korean state media reports of the demise of the leader of the reclusive nation, Kim Jong-il.
"The North Korean leader's death boosted some safe-haven dollar demand but we cannot see a long ...
BEIJING: China sold a net 27.9 billion yuan worth of foreign exchange in November, central bank data showed on Monday.
The figure marks the second consecutive month of net capital outflows in four years, in part due to a withdrawal of funds by developed countries from emerging economies due to a festering euro debt crisis.
Copyright Reuters, 2011 ...
MUMBAI: The Indian rupee slipped early on Monday following a broad selloff in Asian currencies against the dollar on news that North Korean leader Kim Jong-il had died.
The rupee opened at 52.85 to the dollar, slightly weaker than Friday's close of 52.70/72. It had rebounded last week after hitting a record low of 54.30 on Thursday.
North Korean leader Kim Jong-il died on Saturday, state television reported on Monday.
In the latest in a series of ...
