AGL 6.71 Decreased By ▼ -0.19 (-2.75%)
ANL 9.94 Increased By ▲ 0.17 (1.74%)
AVN 77.15 Increased By ▲ 0.33 (0.43%)
BOP 5.51 Increased By ▲ 0.02 (0.36%)
CNERGY 5.11 Increased By ▲ 0.06 (1.19%)
EFERT 79.45 Decreased By ▼ -0.38 (-0.48%)
EPCL 57.40 Decreased By ▼ -0.08 (-0.14%)
FCCL 15.35 Increased By ▲ 0.05 (0.33%)
FFL 6.60 Increased By ▲ 0.12 (1.85%)
FLYNG 7.40 Increased By ▲ 0.06 (0.82%)
GGGL 10.73 Decreased By ▼ -0.02 (-0.19%)
GGL 17.14 Increased By ▲ 0.20 (1.18%)
GTECH 8.48 Increased By ▲ 0.18 (2.17%)
HUMNL 6.58 Increased By ▲ 0.13 (2.02%)
KEL 3.09 Increased By ▲ 0.07 (2.32%)
LOTCHEM 29.20 Increased By ▲ 0.05 (0.17%)
MLCF 28.33 Increased By ▲ 0.03 (0.11%)
OGDC 76.50 Decreased By ▼ -0.03 (-0.04%)
PAEL 15.90 Increased By ▲ 0.03 (0.19%)
PIBTL 5.45 Increased By ▲ 0.02 (0.37%)
PRL 17.84 Increased By ▲ 0.15 (0.85%)
SILK 1.08 No Change ▼ 0.00 (0%)
TELE 10.84 Increased By ▲ 0.02 (0.18%)
TPL 8.60 No Change ▼ 0.00 (0%)
TPLP 21.97 Increased By ▲ 0.78 (3.68%)
TREET 24.01 Increased By ▲ 0.21 (0.88%)
TRG 127.11 Decreased By ▼ -0.39 (-0.31%)
UNITY 23.11 Increased By ▲ 0.01 (0.04%)
WAVES 11.61 Decreased By ▼ -0.02 (-0.17%)
WTL 1.16 Increased By ▲ 0.02 (1.75%)
BR100 4,183 Increased By 8.6 (0.21%)
BR30 15,825 Increased By 18.5 (0.12%)
KSE100 41,629 Increased By 110.8 (0.27%)
KSE30 15,609 Increased By 47.3 (0.3%)
Markets

Currencies index hits all-time high

  • MSCI's index of EM stocks extended gains for a second straight session to climb to a 16 day high with tech stocks showing healthy gains.
Published May 26, 2021
Follow us

An index of emerging market currencies touched all-time highs on Wednesday as the dollar languished at near five-month lows, although the Belarusian rouble lagged amid tensions with the West.

Turkey's lira staged a modest recovery after the replacement of yet another central banker saw it post its worst day in two weeks on Tuesday, while South Africa's rand held near highs last seen more than two-years ago.

The dollar remained close to five-month lows as easing inflation worries prompted investors to seek returns from higher yielders.

"The continual commentary from (US Federal Reserve) officials reinforcing the current Fed accommodative policy is pushing US yields lower, keeping the dollar on the back foot, and helping risk appetite," said Andre Cilliers, currency strategist at TreasuryONE.

Russia's rouble rose 0.14%, hovering close to mid-March highs.

Leaders of Russia and the United States will meet in Geneva on June 16, the nations said on Tuesday, amid sharp disputes over election interference, cyber atttacks, human rights and Ukraine.

Both countries, however, have lowered expectations for breakthroughs, with neither in a mood to make concessions on their many disagreements.

Meanwhile, a Reuters poll showed expectations Russia's stock market would hit 3,819 to notch a record high by year-end thanks to a recovery in commodity prices and still-low interest rates globally. The MOEX index was last trading at 3,703.09 after touching a new high of 3,717.33 earlier in the session.

MSCI's index of EM stocks extended gains for a second straight session to climb to a 16 day high with tech stocks showing healthy gains.

In Belarus, the rouble fell 0.1% against the greenback as airlines re-routed flights to avoid the country's airspace and Belarusian planes faced a possible ban from Europe, with international outrage mounting over Minsk forcing down a jetliner and arresting a dissident journalist on board.

The currency is up about 4% this year after plunging 19% last year after the disputed election of Alexander Lukashenko roiled markets - its worst yearly performance since 2015.

Comments

Comments are closed.