Asia
Friday, 03 May 2013 17:45
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MUMBAI: The Indian rupee weakened on Friday as the central bank disappointed markets with a hawkish tone in its annual monetary policy, despite delivering a widely expected 25 basis point rate cut.India's central bank cut its benchmark interest rate for the third time since January, as growth slows and inflation ebbs, but said there is little room to ease monetary policy further."I feel lucky to have a 25 bps cut after reading the macroeconomic report yesterday," said Vikas Babu Chittiprolu, a senior foreign exchange dealer with state-run Andhra Bank."RBI is clear that it is targeting inflation and will not compromise on inflation in favour of growth. Highlighting of the current account deficit is again a worry," he added.Bets on future rate cuts have been significantly reduced post the policy statement on Friday, hurting all markets including bonds, equities and the rupee. Analysts now expect only another 25 basis point rate ...
SINGAPORE: The euro gained in Asian trade Friday after the European Central Bank (ECB) slashed interest rates to a record low in a bid to spur economic growth in the debt-stricken eurozone.The euro recovered from initial losses and was trading at $1.3074 in mid-morning Asian hours from $1.3063 in New York late Thursday. The single currency was also buying 128.10 yen from 127.93 yen.The dollar was up to 97.99 yen from 97.93 yen.Trading was light, ...
TOKYO: The dollar was under pressure in Asian trading Thursday after the US Federal Reserve opted to keep its easy-money policies in place on the back of lacklustre economic data.After wrapping up a policy meeting Wednesday, the US central bank said it would keep its $85 billion a month bond-buying programme in place, and left open the door to more purchases if the world's biggest economy slowed under Washington's severe budget cuts.The Fed policy, known ...
SEOUL: The South Korean won extended its gains to a seven-week high in domestic trade Tuesday, boosted by offshore players and exporters seeking to convert their contract payments despite steady intervention by local authorities to curb its advance.The won was quoted at 1,101.2 against the dollar at the end of onshore trade, the strongest since March 13, compared with Monday's domestic close of 1,107.2.Dealers said broad US dollar weakness triggered position adjustments by offshore players ...
SINGAPORE: The Thai baht gained on Monday after the finance minister said he did not see immediate need to implement extra measures to curb the currency for now, but it gave up much of its initial rise on worries of official involvement and profit-taking.The Taiwan dollar hit a nine-week high and the South Korean won touched a one-month peak on demand from the countries' exporters for month-end settlements.The baht advanced as investors covered short-positions as ...
SINGAPORE: The euro rose against the dollar in Asia on Monday after data showed the US economy grew at a slower rate in January-March than forecast, while eyes are on a key Federal Reserve meeting, analysts said.The euro fetched $1.3049 in afternoon Asian hours from $1.3029 in late New York trade Friday, while the dollar was changing hands at 97.66 Japanese yen from 97.99 yen.The single European currency was at 127.44 yen from 127.76 yen ...
SINGAPORE: The euro rose against the dollar in Asia Monday after data showed the US economy grew at a slower rate than forecast in January-March, while eyes are on a key Federal Reserve meeting, analysts said.The euro fetched $1.3052 in mid-morning Asian hours from $1.3029 in late New York trade Friday, while the dollar was changing hands at 97.51 Japanese yen from 97.99 yen.The single European currency was at 127.20 yen from 127.76 yen on ...
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