Asia
Thursday, 18 April 2013 13:44
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SEOUL: The South Korean won fell in volatile domestic trade on Thursday, declining for the second consecutive day as renewed risk aversion and the weak stock market triggered dollar short-covering.The local currency was quoted at 1,124.0 against the dollar at the end of onshore trade, down 0.5 percent from Wednesday's domestic closing level of 1,118.5.The won traded as high as 1,118.2 at midday as investors unwound dollar-long positions, but concerns about global growth and weak demand weighed on stocks and overall investor sentiment, pushing the won higher.Dealers said continued repatriation of dividend payments by foreign investors supported the dollar while offshore investors were also covering their dollar-short positions, weighing on the local currency."The dollar-won rose to around 1,140 levels then fell sharply to 1,110, so I think the market may consolidate somewhere in the 1,120s," one dealer said. "But I don't think it will be easy for the exchange rate ...
TOKYO: The dollar dipped against the yen in Asian trade on Thursday ahead of a two-day meeting of finance ministers and central bank chiefs from the Group of 20 nations.The greenback fell to 98.01 yen, compared with 99.19 in New York late Wednesday.The euro was at 127.82 yen against 127.97 yen, after slipping as low as 126 yen Monday. The euro also fetched $1.3040, compared with $1.3033 in New York.But traders expect the dollar to ...
TOKYO: The dollar dipped against the yen in Asian trade on Thursday ahead of a two-day meeting of finance ministers and central bank chiefs of the Group of 20 nations.The greenback fell to 98.08 yen, compared with 99.19 in New York late Wednesday.The euro was at 127.96 yen against 127.97 yen in the United States after slipping as low as 126 yen Monday. The euro also fetched $1.3045 compared with $1.3033 in New York.But traders ...
MUMBAI: The Indian rupee hit its highest level in seven weeks on Wednesday on rising rate cut hopes, but demand for the greenback from oil firms and custodian banks weighed and pushed the rupee marginally down on the day.Early gains in the domestic share market along with foreign fund flows helped the rupee to rise to its highest level since end-February.However, a sell-off in European stocks and dollar buying by state-run banks along with custodian ...
SHANGHAI: China's central bank guided the yuan to a record high against the dollar on Wednesday for the fourth day, leaving the market speculating about whether a correction in the Chinese currency is imminent, traders said.The People's Bank of China (PBOC) set its official midpoint at an all-time high of 6.2342 against the dollar on Wednesday, up from 6.2408 on Tuesday.Spot yuan closed at an all-time high of 6.1723 on Wednesday, toppling the former record ...
TOKYO: The yen resumed its downward trend against the dollar and euro on Wednesday after a brief surge at the start of the week that was fuelled by fears about the global economy.The dollar rose to 98.41 yen in afternoon Asian trade, compared from 97.79 yen in New York Tuesday afternoon and well up from the levels around 96 yen seen on Monday.The euro was at 129.66 yen, against 128.86 yen in the US after ...
SINGAPORE: The South Korean won turned higher on Tuesday as demand from offshore funds and exporters prompted short squeezes, and its gain helped most emerging Asian currencies strengthen in spite of worries about global growth hurting risk appetites.However, the Philippine peso slid to a near six-month low as the growth pace for remittance inflows slowed and as offshore funds offered to buy the currency.Initially, the won, along with most other regional units, slid as investors ...
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