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‘Digital currency’: A central bank alternative to bitcoin?

LONDON: Digital euros, yuan and dollars? Faced with increased popularity for cryptocurrency bitcoin, as well as for...

Updated 26 Apr, 2021 10:12am

Markets

Dollar wallows as traders reassess taper timing; cryptocurrencies tumble

Bitcoin slumped 4.2% to below $50,000, and briefly touched $48,338. It has fallen every day but two since reaching a record high of $64,895.22 on April 14.

Published 23 Apr, 2021 11:41am

Markets

Australia, NZ dollar hit by US capital tax doubling plan

New Zealand government bonds eased, sending yields about 2-3 basis points higher across the curve.

Published 23 Apr, 2021 11:39am

Markets

Yuan off 6-week high, investors await global central bank policy signals

China's official PMI is due for release next Friday.

Published 23 Apr, 2021 11:27am

Markets

China says increased flexibility in yuan can release market pressure

The yuan briefly firmed to its strongest level against the US dollar in nearly six weeks on Thursday as the greenback weakened.

Published 23 Apr, 2021 11:25am

Markets

Russian rouble extends recovery after Putin's speech, rate decision in focus

Brent crude oil, a global benchmark for Russia's main export, was down 0.4% at $65.08 a barrel.

Published 22 Apr, 2021 12:52pm

Markets

China's yuan nears six-week high as US yields ease

The offshore yuan rose to its strongest level since March 12, touching 6.4805 before trimming gains to 6.4839 at midday.

Published 22 Apr, 2021 12:07pm

Markets

Asian FX bulls return as dollar slips; short bets on Indian rupee spike

The poll uses estimates of net long or short positions on a scale of minus 3 to plus 3.

Published 22 Apr, 2021 12:04pm

Markets

Dollar near multi-week lows as yield support fades, euro eyes ECB

The Canadian dollar, which surged to a six-week high on Wednesday, was last quoted at 1.2510 against its US counterpart.

Published 22 Apr, 2021 12:01pm

Markets

China's yuan firms as dollar slips

The Thomson Reuters/HKEX Global CNH index, which tracks the offshore yuan against a basket of currencies on a daily basis, stood at 96.69, firmer than the previous day's 96.56.

Published 21 Apr, 2021 12:18pm

Markets

Dollar struggles to recover after slump to 7-week trough amid lower US yields

The safe-haven greenback got some respite from a pullback in world stocks from record highs as flare ups in coronavirus infections from India to Canada soured the outlook for a quick global recovery.

Published 21 Apr, 2021 12:13pm

Markets

Yuan breaches key threshold, edges up to month high

"With the economy doing well, policymakers are now focused on tackling financial risks.

Published 20 Apr, 2021 11:48am

Markets

Dollar slumps to 6-week low with all eyes on interest rate moves

Bitcoin slipped about 1% to $55,782 on Monday afternoon in New York in a day of relatively steady trading after plunging on Sunday.

Published 20 Apr, 2021 11:41am

Markets

Hong Kong stocks flat at break after Wall Street retreat

The Hang Seng Index was down 0.42 points at 29,105.73.

Published 20 Apr, 2021 11:15am

Markets

Yuan eases as investors focus on Sino-US tensions, tighter cash conditions pare losses

The domestic currency market largely ignored the US Treasury Department's decision not to label China as a currency manipulator in the first semi-annual foreign exchange report issued by Treasury Secretary Janet Yellen.

Published 19 Apr, 2021 11:22am

Markets

Dollar pinned near one-month low amid subdued US yields

The bitcoin rout also followed a decision on Friday by Turkey's central bank to ban the use of cryptocurrencies for purchases.

Published 19 Apr, 2021 11:17am

Business & Finance

Chinese banking sector's first-quarter profit growth at 1.5pc, says regulator

Chinese banks have begun to improve earnings in tandem with an economic recovery and are expected to continue to do so throughout the year.
The amount of special bonds for capital replenishment "will be relatively stable compared with last year", said Xiao Yuanqi, vice-chairman of CBIRC, adding that the disposal of bad loans will be no less than in previous years.

Published 16 Apr, 2021 04:53pm

Markets

Spot gold may rise further to $1,785

On the daily chart, a resistance at $1,769 seems to have caused the pullback on the hourly chart.

Published 16 Apr, 2021 11:23am

Markets

Yuan eases on concern China's post-COVID bounce is losing steam

Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate at a three-week high of 6.5288 per dollar, 9 pips firmer than the previous fix of 6.5297.

Published 16 Apr, 2021 11:16am

Markets

Canadian dollar retreats from 3-week high as factory sales fall

Analysts expect the loonie, which has gained 1.5% since the beginning of the year, to benefit from a potential reduction by the Bank of Canada of its bond purchases, a Reuters poll showed this month.

Published 16 Apr, 2021 11:14am

Markets

Australia, NZ dollars set for strong weekly gains as US dollar sags

New Zealand government bonds rose, sending yields about 3-5 basis points lower.

Published 16 Apr, 2021 11:11am

Markets

Dollar set for back-to-back weekly losses on Fed's lower-for-longer stance

Highly anticipated economic data from China on Friday ultimately had little effect on currencies, even as the world's second largest economy posted record 18.3% growth in the first quarter year-on-year.

Published 16 Apr, 2021 11:10am

Markets

Asian shares slip, dollar wallows at 1 month lows

Its New Zealand peer was upbeat at $0.7147, a level not seen since March 23.

Published 15 Apr, 2021 11:58am

Markets

Dollar sets four-week low as Fed's dovish message takes hold

Thursday is busy with US data, including retail sales readings for March and weekly jobless figures due at 1230GMT.

Published 15 Apr, 2021 11:39am

Markets

Australia, NZ dollars break higher, data speaks of strong Q1

Both currencies also made sizable gains on the yen and euro.

Published 15 Apr, 2021 11:37am

Markets

Dollar at 3-week low as Fed's dovish message sinks in

Thursday is busy with US data, including retail sales data for March and weekly jobless data due at 1230GMT.

Published 15 Apr, 2021 11:36am

Markets

Yuan eases on higher corporate dollar demand, investors await Q1 GDP

"We expect real GDP growth to have jumped to 20% year-on-year in Q1 from 6.5% in Q4-2020, led by an overheated industrial sector and a recovering services sector," economists at Standard Chartered said in an earlier note.

Published 15 Apr, 2021 11:22am

Markets

Yuan edges up as markets take US inflation data in stride

The global dollar index fell to 91.763 from the previous close of 91.795.

Published 14 Apr, 2021 11:53am

Markets

Dollar slips to three-week low as inflation fears seen baked in for now

Biden phoned Putin to propose they meet in a third country, in a sign of concern about tensions spinning out of control in the Ukraine crisis.

Published 14 Apr, 2021 11:38am

Markets

Yuan eases as investors look to US inflation data

"Although China's aggregate finance grew at a slower pace than last year, yuan loan growth was faster than a year ago, showing that shadow banking has continued to shrink," Iris Pang, chief economist for Greater China at ING, said in a note.

Published 13 Apr, 2021 11:02am

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 22	278.53
USD PKR Interbank Buying / Apr 22	278.33
USD to Japanese Yen / Apr 22	154.79
USD to Swiss Franc / Apr 22	0.91
Pound Sterling to USD / Apr 22	1.23
Euro to USD / Apr 22	1.07

Stock	Volume
S&P 500 / Apr 22	5010.60
India Sensex / Apr 22	73648.62
Tokyo Nikkei / Apr 22	37438.61
Nasdaq / Apr 22	15451.31
Hang Seng / Apr 22	16511.69
FTSE 100 / Apr 22	8023.87
Dow Jones / Apr 22	38239.98
Germany DAX 30 / Apr 22	17860.80

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 19	21035
Crude Oil USD/Barrel / Apr 22	82.42
Gold 10 Grams PKR / Apr 22	213220
Gold Spot USD/Ounce / Apr 22	2328.37
Cotton US¢/pound / Apr 22	82.42
Petrol/Litre / Apr 23	293.94

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 23 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 23 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 23 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 23 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 23 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 23 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 23 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 23 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 23 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 23 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 23 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 23 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 23 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 23 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 23 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 23 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 23 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 23 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 23 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 23 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 23 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 23 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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