07272016Wed
Last update: Wed, 27 Jul 2016 08pm

Asia

Markets - FXMM - Asia

Sri Lankan rupee ends weaker on importer dollar demand COLOMBO: The Sri Lankan rupee ended weaker on Wednesday due to dollar demand from importers, even as a top central bank official said proceeds from a sovereign bond issue, which dealers say would lift the local currency, have flowed in. "Once the money comes in, it is obviously part of our reserves," Central Bank Deputy Governor Nandalal Weerasinghe told Reuters on Wednesday, adding the $1.5 billion raised from the bond issue has already come into the country.Last week, Finance Minister Ravi Karunanayake said the rupee would "obviously appreciate" on inflows from Sri Lanka's first sale of dual-tranche eurobonds.Sri Lankan rupee one-week forwards, which have been acting as a proxy for the spot rupee, ended at 147.00/20 per dollar, compared with Monday's close of 146.70/80.Markets were closed on Tuesday for a Buddhist religious holiday.The spot rupee is tightly managed by the central bank and market participants use the forward market levels ...

Markets - FXMM - Asia

Sri Lankan rupee falls on importer dollar demand; stocks up COLOMBO: The Sri Lankan rupee fell on Wednesday due to dollar demand from importers, even as a top central bank official said proceeds from a sovereign bond issue, which dealers say would lift the local currency, have flowed in. "Once the money comes in, it is obviously part of our reserves," Central Bank Deputy Governor Nandalal Weerasinghe told Reuters on Wednesday, adding the $1.5 billion raised from the bond issue has already come into the ...

Markets - FXMM - Asia

Dollar rises as US data fuel talk of rate hike TOKYO: The dollar broadly rose Wednesday as another positive round of US data fanned speculation the Federal Reserve will lift interest rates, while central banks elsewhere consider stimulus measures to kickstart growth.A decision by the International Monetary Fund to cut its global growth projections for this year and next also lifted the greenback against higher risk units as dealers sought out safety.New home construction in the US rose in June at its best pace in ...

Markets - FXMM - Asia

Yuan firms to 6.6893/dollar at official close on state bank buying SHANGHAI: Major Chinese state-owned banks pushed the yuan up sharply against the dollar late on Tuesday, after it fell through a key psychological level in the previous session, traders said. The yuan was at 6.6893 to the dollar at the official close at 4:30 pm (0830 GMT).The banks' move, which traders suspected was done at the behest of China's central bank, pulled the yuan back from posting an official close weaker than 6.7 per dollar.It ...

Markets - FXMM - Asia

Australian, New Zealand dollars slide on rate cut bets LONDON: The Australian dollar fell 1 percent to a 11-day low on Tuesday while the New Zealand dollar hit a three-week trough, as investors ramped up bets that both central banks could ease monetary policy as early as next month. The Australian dollar fell after minutes from the latest central bank meeting left the door open for a move in August while New Zealand's currency was dented after the Reserve Bank stepped up efforts to ...

Markets - FXMM - Asia

Bearish yuan and oil weigh on Asia FX; PBOC seen supporting renminbi SINGAPORE: Most emerging Asian currencies eased on Tuesday, as traders booked profits on expectations of further weakness in the Chinese yuan and an extended slide in oil prices.Regional currencies also tracked weakness in the New Zealand dollar and the Australian dollar on views of interest rate cuts in the Antipodeans countries.The yuan edged up with state-run banks spotted intervening to support the currency on behalf of the central bank. On Monday, the renminbi weakened past ...

Markets - FXMM - Asia

South Korean stocks break 7-day rally on profit-taking, won nearly steady SEOUL: South Korean shares snapped a seven-day rally on Tuesday as domestic institutions took profits. The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at 2,016.89 points.Foreign investors have been buyers for nine straight days, and purchased a net 305.7 billion won ($269.38 million) of KOSPI shares on Tuesday.The South Korean won pared some earlier losses and held steady near-end session.The won was quoted at 1,135.5 to the dollar at the conclusion of ...