07302016Sat
Last update: Sat, 30 Jul 2016 12pm

Asia

Markets - FXMM - Asia

Sri Lankan rupee ends steady on bank dollar sales; importer demand weighs COLOMBO: The Sri Lankan rupee closed steady on Monday as late importer demand for the greenback offset dollar selling by a state-run bank in early trade, dealers said.One-week rupee forwards, which have been acting as a proxy for the spot rupee, ended steady at 146.20/40 per dollar.The spot rupee is tightly managed by the central bank, and market participants use the forward market levels for guidance on the currency."The importer demand (for dollars) was there and a state bank sold dollars," said a currency dealer, asking not to be named.Central bank officials were not available for comment.Finance Minister Ravi Karunanayake on July 12 said the rupee would "obviously appreciate" on inflows from the country's first sale of dual-tranche eurobonds, while the Central Bank Deputy Governor Nandalal Weerasinghe said last week that the $1.5 billion raised from the bond sale had been absorbed into foreign reserves.The spot rupee was not traded ...

Markets - FXMM - Asia

S.Korean won ends lower on firm dollar; shares edge up SEOUL: The South Korean won ended lower on Monday as a string of solid economic data buoyed the US dollar, but losses were capped by exporters' dollar-selling. The won was quoted at 1,137.0 to the dollar at the conclusion of onshore trade, down 0.2 percent compared to Friday's close of 1,134.4.South Korean shares snapped four straight losing sessions, but only barely.The Korea Composite Stock Price Index (KOSPI) closed up 0.1 percent at 2,012.32 points.Foreign investors ...

Markets - FXMM - Asia

Sri Lankan rupee edges up on bank dollar sales; stocks slip COLOMBO: The Sri Lankan rupee edged up on Monday as dollar selling by a state-run bank surpassed importer demand for the greenback, dealers said. One-week rupee forwards, which have been acting as a proxy for the spot rupee, were at 146.05/20 per dollar at 0623 GMT, compared with Friday's close of 146.20/40."The importer demand (for dollars) is there but a state bank is selling dollars," said a currency dealer, asking not to be named.Central bank ...

Markets - FXMM - Asia

Stimulus speculation drags on yen TOKYO: The yen slipped Monday on mounting speculation that the Bank of Japan will ramp up its stimulus programme after this week's policy meeting, while US Federal Reserve prepares for its own gathering.The meetings are the first since last month's vote in Britain leave the European Union, which caused central bankers around the world to promise fresh stimulus to negate any possible negative impact.More than three-quarters of economists polled by Bloomberg News said they expect ...

Markets - FXMM - Asia

China shows commitment to move to market-driven exchange rate CHENGDU: China has demonstrated commitment to moving toward a market-driven exchange rate, said a senior US Treasury official, speaking on the sidelines of a meeting of G20 finance ministers and central bankers in Chengdu on Saturday. However, a key test will be whether the yuan is allowed to appreciate in value in response to market pressures, the official told journalists, adding that the renminbi has been moving in response to market factors."They have been exercising ...

Markets - FXMM - Asia

China's yuan firms a 4th day, biggest weekly gain since April likely SHANGHAI: The yuan edged up against the dollar for a fourth straight day on Friday, heading for its biggest weekly gain since April, as traders said state-owned banks were suspected of supporting the currency in the morning.This week has seen heavy intervention by those banks after the yuan breached a key psychological level of 6.7 on Monday.Friday is the last trading day before the Group of 20 finance ministers and central bankers meet in Chengdu, ...

Markets - FXMM - Asia

South Korean won ends slightly firmer, stocks soften SEOUL: The South Korean won ended slightly firmer on Friday and stocks ticked lower, as the market took a cautious stance ahead of central bank meetings in the United States and Japan. The won was quoted at 1,134.4 to the dollar at the conclusion of onshore trade, up 0.1 percent compared with Thursday's close of 1,135.9.The Korea Composite Stock Price Index (KOSPI) closed down 0.1 percent at 2,010.34 points.On a weekly basis, the currency barely ...