05012016Sun
Last update: Sun, 01 May 2016 06pm

Asia

Markets - FXMM - Asia

Emerging currencies up as oil rally, China trade boost optimism TOKYO: Commodity-linked currencies rose Wednesday on the back of a surge in oil prices with upbeat Chinese trade data also boosting sentiment, while the safe-haven yen slipped off 17-month highs against the dollar.News of a deal between Russia and Saudi Arabia to limit oil output lifted crude prices to their highest this year, as it offered hope producer nations would address a global glut that saw rates plunge 75 percent from mid-2014 through February.Energy-linked units were well up against the dollar. The Malaysian ringgit and Australian dollar each climbed 0.5 percent and the Canadian dollar rallied 0.8 percent.Major players from inside and outside the OPEC producers club are due to meet in the Qatari capital Doha on Sunday to discuss the crude crisis.On Wednesday, official figures showed China's exports broke an eight-month streak of declines to post a strong increase in March, indicating a possible turnaround in the world's number ...

Markets - FXMM - Asia

Yen eases after intervention comments by Japan's Aso TOKYO: The yen eased Tuesday after Japan's finance minister reiterated that officials could still intervene in forex markets to stem the unit's steep rise, but analysts warned such a move could trigger a currency war in Asia.Since the start of April the Japanese unit has soared about four percent to 17-month highs against the dollar as concerns about a global economic slowdown push traders into safe-haven assets.Finance Minister Taro Aso said the country's leaders were ...

Markets - FXMM - Asia

Sri Lanka 5-day rupee forwards end weaker on dollar demand ahead of new year COLOMBO: Sri Lankan five-day rupee forwards edged down on Monday due to late importer dollar demand ahead of holidays for the Sinhala-Tamil new year later this week, dealers said. The forwards, which are called spot next and act as a proxy for the spot currency, ended at 145.05/145.20 per dollar, slightly weaker from Friday's close of 145.00/145.20.The spot rupee, which has barely been trading since Jan. 27, was not actively traded on Monday as well. ...

Markets - FXMM - Asia

Yen advances despite efforts to cool safe-haven currency TOKYO: The yen extended its advance Monday despite repeated efforts to talk down the safe-haven currency, as concerns over the impact on exporters weighed on the stock market.The Japanese currency has soared to 17-month highs in the past week as worries about the global economy sent dealers rushing in, while the prospect of US interest rates remaining low also drove a shift from the dollar.A strong currency is damaging for Japan's exporting giants, such as ...

Markets - FXMM - Asia

Sri Lanka 5-day rupee forwards end steady COLOMBO: Sri Lankan five-day rupee forwards closed steady on Friday as importer dollar demand offset the greenback sales by exporters and inward remittances ahead of the Sinhala-Tamil new year next week, dealers said. The forwards, which are called spot next and act as a proxy for the spot currency, ended steady at 145.00/145.20 per dollar. The spot rupee, which has not been active since Jan. 27, was not actively traded on Friday. The central bank ...

Markets - FXMM - Asia

India's FX reserves surge to record high of $360bn NEW DELHI: India's foreign exchange reserves swelled to a record high of $360 billion for the week ended April 1, largely on account of the central bank's dollar purchases to rein in the rupee's strength as foreign funds poured into Indian financial markets, analysts said. Foreign investors added Indian debt and equities worth $3.7 billion in March, the highest in a year, after being net sellers in the previous two months. For the week, FX ...

Markets - FXMM - Asia

China's yuan edges lower after FX reserves rise unexpectedly SHANGHAI: The yuan eased against the dollar on Friday despite China reporting its first rise in foreign exchange reserves since November, with traders saying the market had already priced the move in.The spot yuan opened at 6.4771 per dollar and was changing hands at 6.4772 at midday, weakening 0.07 percent from the previous late session close.The People's Bank of China set the midpoint rate at 6.4733 per dollar prior to market open, 0.04 percent weaker ...