Wednesday, 10 April 2013 10:23
Posted by Shoaib-ur-Rehman Siddiqui
SHANGHAI: The yuan set a record high against the dollar on Wednesday, for the second time in five days, as Beijing continued to show tolerance for measured appreciation.The spot rate opened at a record 6.1950 per dollar Wednesday morning, after the People's Bank of China (PBOC) set the official midpoint at 6.2548, its highest level since the landmark revaluation in 2005. The exchange rate is allowed to rise or fall by 1 percent away from the midpoint fixing.The yuan continued to strengthen during the morning session after fresh trade data showed China recorded a mild trade deficit in March, with imports beating market expectations while export growth remained in line with forecasts.At midday, the spot rate was 6.1936.The Chinese currency has been repeatedly setting records against the dollar since late 2012. Traders attribute this to a combination of domestic bullish sentiment and monetary easing overseas, combined with hot money inflows ...
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SHANGHAI: The yuan set a record high against the dollar on Wednesday, for the second time in five days, as Beijing continued to show tolerance for measured appreciation.The spot rate opened at a record 6.1950 per dollar Wednesday morning, after the People's Bank of China (PBOC) set the official midpoint at 6.2548, its highest level since the landmark revaluation in 2005. The exchange rate is allowed to rise or fall by 1 percent away from the midpoint fixing.The yuan continued to strengthen during the morning session after fresh trade data showed China recorded a mild trade deficit in March, with imports beating market expectations while export growth remained in line with forecasts.At midday, the spot rate was 6.1936.The Chinese currency has been repeatedly setting records against the dollar since late 2012. Traders attribute this to a combination of domestic bullish sentiment and monetary easing overseas, combined with hot money inflows ...
TOKYO: The yen inched up against other major currencies in Asia on Wednesday after the recent selling spree on the Bank of Japan's massive monetary easing.The dollar fetched 99.01 yen in Tokyo morning trade against 99.18 yen in New York Tuesday afternoon. The euro also sank to 129.56 yen from 129.73 yen while staying flat at $1.3081.The dollar briefly fell below 99.00 yen on profit taking and 'safe haven' support on reports North Korea was ...
COLOMBO: The Sri Lankan rupee edged up to its strongest close in a year on Tuesday on dollar inflows from inward remittances and exporter conversions ahead of the traditional new year, dealers said. The rupee edged up to 125.45/50 to the dollar, its highest close since April 9, 2012, from Monday's close of 125.50/55. "Inflows from inward remittances and exporter conversions continue because of the upcoming new year festival," said a currency dealer on condition ...
SHANGHAI: China's yuan closed little changed on Tuesday after the central bank set its daily midpoint virtually flat, strengthening expectations that authorities will not guide the currency sharply weaker in response to monetary easing by Japan.The People's Bank of China (PBOC) maintained its usual practice of setting its midpoint stronger in response to a fall in the dollar's value against global currencies overnight, but the change on Tuesday was marginal at only 0.02 percent.Spot yuan ...
SHANGHAI: China's money rates were mixed on Monday, with an abundance of liquidity offset by caution ahead of Tuesday's central bank open market operations, traders said.The benchmark seven-day bond repurchase rate fell 5 basis points to 3.27 percent near midday, but the overnight rate rose 16 bps to 2.19 percent, while the 14-day repo rate gained 8 bps to 3.10 percent.Traders were confident that money conditions will remain comfortable in the near term, in part ...
