Stocks Fall as Consumer Confidence Dips Sep 30, 2009
Japan's finance minister said Tuesday the government may step into the foreign exchange market, backpedaling his recent comments suggesting he is against intervention to influence the currency's direction, according to an Associated Press dispatch. Finance Minister Hirohisa Fujii told reporters that "If (exchange rates) move abnormally, we could take appropriate measures for our national interest." Though he did not specify what measures could be taken, he was widely believed to have meant a... (BusinessWeek)
Press Release: Statement at the Conclusion of an IMF Staff Mission to Cambodia Sep 25, 2009
The mission also noted that greater exchange rate flexibility through limiting intervention to smoothing volatility would help protect international reserves, deepen the foreign exchange market, and allow the exchange rate to play a greater role in facilitating external adjustment. The mission commended the National Bank of Cambodia for taking actions to safeguard the health of the banking system. (IMF News)
Re falls by 35 paise against dollar Sep 25, 2009
Dealers at Interbank Foreign Exchange market said the local unit came under pressure as dollar rallied smartly against major world currencies in overseas market. They said fresh dollar demand from oil refiners also weighed on the rupee sentiment. (India Times)
New Central Bank Act will provide clarity on central banks mandates Sep 25, 2009
Zeti said the mandate to provide oversight over the money and foreign exchange market to ensure its orderly development and functioning was equally important. On financial stability, she said the Act incorporated an explicit mandate that included risks that disrupted the financial intermediation process (including the orderly functioning of the financial markets), or which affected public confidence. (The Star Online, Malaysia -- Business)
Press Release: Statement at the Conclusion of an IMF Staff Mission to Sierra Leone Sep 23, 2009
Despite the challenging economic environment, the authorities have pursued appropriate fiscal and monetary policies, and the Bank of Sierra Leone has aptly conducted limited interventions in the foreign exchange market to smoothen out short-term fluctuations. The worst of the global recession appears to be over, although the pace of the recovery is not yet well established. (IMF News)
China News 2009.09.18 Sep 21, 2009
It is now seeking a bigger role in the country's rapidly-growing bond and foreign exchange market. The British lender is also seeking regulatory approval to become a bond market maker in China, as well as an underwriter of Chinese corporate debt. (Xinhuanet, China)
* Taiwan market status unchanged Sep 18, 2009
The TWSE said in a statement that Taiwan would remain on the watch list to be upgraded and it still lacks in areas such as a free and well-developed foreign exchange market and a better process for off-exchange transactions. However, the exchange said it would continue to improve the countrys investment environment to play catch-up with other rivals in the developed markets. (Taipei Times, Taiwan -- Business)
Rand eyes 7.20 Sep 17, 2009
Last Upd: 06:11pm 16 Sep 2009. R3,000 free @ Prestige Casino. (iAfrica.com)
Fujii Says a Weaker Currency Doesn't Necessarily Help Japanese Exporters Sep 17, 2009
Japans Fujii Says Weaker Yen Doesnt Necessarily Help Exports - Bloomberg. Updated: New York, Sep 17 04:17 London, Sep 17 09:17 Tokyo, Sep 17 17:17. (Bloomberg -- Japan)
World markets climb amid upbeat China data Sep 11, 2009
Money traders work under an electronic screen indicating the U.S. dollar rate against Japanese yen on the Foreign Exchange Market in Tokyo, Japan, Friday, Sept. 11, 2009. The U.S. dollar fell to the lower 91 yen level midday Friday. (Atlanta Journal-Constitution -- Business)
Company matches buyers, sellers in foreign exchange Sep 10, 2009
MOUNTAIN VIEW The most interesting thing about the foreign exchange market aside from the more than $3 trillion in daily volume is that there s actually no central exchange on which to trade ... It s fair to say the foreign exchange market is one we like a lot, said Adams Street Partners Robert Murray. (San Jose Business Journal, CA)
Rand eyes 7.20 vs USD Sep 9, 2009
Dow Jones Newswires reports that the euro and other higher-yielding currencies traded sharply higher against the dollar Tuesday as risk appetite returned to the foreign exchange market with vengeance. Investors rode a wave of confidence on positive euro-zone economic data, an overnight stock rally in Asia and Europe and support for continued economic stimulus from G20 ministers. (iAfrica.com)
MTN (Ghana) Customer Relationship Building and Customer Loyalty Sep 3, 2009
It also allows them monitor the exchange rates on the foreign exchange market on regular basis. Most businessmen who depend on the foreign exchange market will find this service very useful. (Ghana Web, Ghana)
Forex Trading Basics: Getting Start... Sep 1, 2009
Even though ownership in stocks and the trading of futures and options has skyrocketed in recent years, the foreign exchange market - also called forex - is still by far the most liquid and most universal trading market. Why. (Suite101.com)
Mitsubishi Electric Completes Installation of Two Diamond Vision Screens for Nakayama Racecourse Aug 31, 2009
At an exchange rate of 98 yen to the US dollar, the rate given by the Tokyo Foreign Exchange Market on March 31, 2009. Contact. (Yahoo! Wire -- Entertainment News)
RBI meets asset reserves target Aug 29, 2009
RBIs foreign currency assets had fallen from Rs 12,98,552 crore in 2007-08 to Rs 12,17,541 crore in 2008-09, largely due to net sales of US dollars in the domestic foreign exchange market. Following the higher income, the central bank has transferred Rs 26,191 crore to its contingency reserve in 2008-09, increasing the size of the fund to Rs 1,53,392 crore. (India Times)
Global economic crisis contracting - Duffuor Aug 26, 2009
5 per cent. He said the foreign exchange market exhibited some volatility of the Cedi against the three core currencies in the first quarter, broadly following similar trends in the last quarter of 2008. The Finance Minister said recent developments, however, indicated a much slower pace in the rate of exchange of the cedi to the US Dollar. (Ghana Web, Ghana)
Rupee up 19 paise at 48.43 a dollar Aug 24, 2009
Dealers at the Interbank Foreign Exchange market said the rupee drew support from strong Asian equity markets raising hopes of positive FII activity. They said a weaker US dollar against major world currencies also aided the rupee sentiment. (India Times, India)
Markets soar as eurozone economy stabilises Aug 22, 2009
On the foreign exchange market, the news helped the European single currency climb above 1. 43 dollars to some 1. (Yahoo! Asia News)
Oil not expected to return to triple digits Aug 20, 2009
Both the foreign exchange market and global stocks have also seen day-to-day fluctuations based on data from around the world. Those influences are overtaking traditional supply and demand numbers in the oil market, Flynn said. (WSJA.com, AL)
Australian Central Bank Slowed Sales of Currency in July From 5-Year High Aug 20, 2009
Timely data for the Australian foreign exchange market point to a rebound in foreign exchange turnover since early 2009, in line with improved conditions in financial markets and some stabilization in the value of trade, the central bank said. To contact the reporter on this story: in Sydney at. (Bloomberg -- Australia & New Zealand)
Press Release: Statement by an IMF Mission to Guatemala Aug 19, 2009
The discretionary interventions in the foreign exchange market will continue, with the goal of avoiding excessive volatility of the exchange rate. The Guatemalan authorities reiterated their intention to continue treating the Stand-By Arrangement with the IMF as precautionary. (IMF News)
Rupee falls by 18 paise in early trade Aug 14, 2009
In lacklustre trade at the Interbank Foreign Exchange market, the domestic unit lost 18 paise and traded at 48. 28 per US dollar. (India Times, India)
NMB man charged in Ponzi scheme Aug 13, 2009
It is alleged that, between January 2002 and November 2004, Paul Robert Karr solicited investors to trade foreign currencies in the international foreign exchange market, according to a news release from the acting U.S. attorney for the Southern District of Florida. However, the indictment alleges that he either never traded on their behalf, or, when he did, he lost significant amounts of their money. (South Florida Business Journal, FL)
* IMF approves US$3.2bn Pakistan loan Aug 9, 2009
He welcomed Pakistans progress in reforms in the financial sector and the foreign exchange market and in strengthening the social safety net. This story has been viewed 280 times. (Taipei Times, Taiwan -- World)
IMF Executive Board Completes Third Review Under the Stand-by Arrangement with Georgia Aug 8, 2009
In the foreign exchange market, the authorities have made a successful transition from the daily fixing session to foreign exchange auctions, which should set the stage for more exchange rate flexibility in response to market conditions, thereby protecting international reserves. Monetary policy options are limited by high dollarization and constraints in banks balance sheets. (IMF News)
Masterplan makes great strides Aug 8, 2009
Equally important will be the development of the domestic financial markets, including the foreign exchange market ... It seems rather unusual that we dont have a well-developed foreign exchange market. (The Star Online, Malaysia -- Business)
Treasure pulse Aug 8, 2009
Foreign Exchange Market. Improving risk sentiment continues to weigh on the USD against most major currencies. (The Star Online, Malaysia -- Business)
US data boosts rand Aug 8, 2009
"In the foreign exchange market, the idea of selling the dollar on strong US data, because it is risk positive, is being appropriately challenged," said Alan Ruskin, head of international strategy at RBS in Greenwich, Conn ... "It reinforces other signs of improvement in the US economy and the global economy. I think that should reinforce risk appetite in the foreign exchange markets.". (iAfrica.com)
IMF boosts loan to Pakistan by US$3.2b Aug 8, 2009
com - IMF boosts loan to Pakistan by US#dollar;3. IMF boosts loan to Pakistan by US 3. (Channelnewsasia.com)
Press Release: IMF Completes Second Review Under Stand-By Arrangement for Pakistan and Increases Financial Support to US$11.3 billion Aug 8, 2009
Reforms in the financial sector and the foreign exchange market have been progressing, and steps have been taken to strengthen the social safety net ... The increased flexibility of the exchange rate and the timely elimination of the State Bank of Pakistan s provision of foreign exchange for imports of diesel and other refined products will improve the functioning of the foreign exchange market, make Pakistan s economy more resilient to external shocks, and will contribute to further... (IMF News)
Pakistan Gets $3.2 Billion IMF Loan to Boost Economy Torn by Taliban War Aug 8, 2009
Reforms in the financial sector and the foreign exchange market have been progressing, and steps have been taken to strengthen the social safety net. . (Bloomberg -- Asia)
Typhoon Morakot Approaches Taiwan, Forcing Stock Market, Schools to Close Aug 7, 2009
Trading in the foreign exchange market is also halted, according to the Taipei Forex Inc. Businesses and schools in 24 of Taiwans 25 administrative regions were closed, the said on its Web site. China Evacuations. (Bloomberg -- Asia)
Re down 18 paise at 47.85/$ in opening trade Aug 7, 2009
In thin trading at the Interbank Foreign Exchange market, the local unit fell by 18 paise at 47. 85 a dollar in early trade over the previous close of 47. (India Times, India)
Canadian dollar on a high Aug 5, 2009
As the US dollar continues to notch up fresh lows for the year, the question in the foreign exchange market is not whether it will fall further but to find the best currency against which to sell it. Many analysts believe the answer lies north of the US border and in the Canadian dollar, sometimes known as the loonie. (FT.com -- Markets)
Recovery rally lifts Asia stocks Aug 4, 2009
The Australian dollar was an early winner in the foreign exchange market. The currency rose to a high around $0. (India Times)
Nigeria: Three Banks Face Sanctions Over Forex Scam Aug 3, 2009
Lagos The Central Bank (CBN) will, this week, withdraw the foreign exchange authorised dealership of three banks and suspend them from the foreign exchange market for three months for engaging in foreign exchange speculation. Meanwhile, foreign exchange demand at the official foreign exchange market rose by 351 per cent even as the naira depreciated by 400 kobo at the parallel foreign exchange market ... It would be recalled that in 2001, the CBN suspended 21 banks from the foreign exchange... (allAfrica.com)
Transcript of a Conference Call on Ukraine With Ceyla Pazarbasioglu, Mission Chief for Ukraine in the IMF's European Department Jul 31, 2009
They have already amended the regulations to make sure that there would be an efficient foreign exchange forward market in Ukraine, which should help hedging opportunities for the public and corporate sectors and, therefore, help make sure that there would be an efficient foreign exchange market. In terms of the bank restructuring program, this is going in line with the program. (IMF News)
Slap Speculators in Bondage So Free Markets Choke: Mark Gilbert Jul 30, 2009
2 trillion of currency trading takes place every single day on the foreign exchange market, according to the most recent figures from the Bank for International Settlements. Sure, some of that is Aunt Agatha swapping her dollars for dong before embarking on her summer adventures in Vietnam, and theres a contribution from Widgets Inc. bringing home its overseas earnings. (Bloomberg -- Columnists)
Public Information Notice: IMF Executive Board Concludes Article IV Consultation with Brazil Jul 29, 2009
The creation of lending facilities in foreign currencies and intervention in the foreign exchange market through futures helped stabilize domestic financial conditions relatively rapidly, while making parsimonious use of cash reserves ... Directors praised the authorities adroit management of liquidity in domestic and foreign exchange markets ... Intervention in the foreign exchange market has allowed participants to hedge exposures rapidly. (IMF News)
FX trading in London falls 20% Jul 28, 2009
Average daily turnover in the UK foreign exchange market fell by a fifth in the six months to April as volumes slumped during the financial crisis. Prior to the financial crisis, turnover on the currency markets, the worlds largest financial market, had been boosted by increasing participation from hedge funds and retail investors. (FT.com -- Markets)
China's Yuan Still `Significantly Undervalued,' Peterson's Goldstein Says Jul 22, 2009
Chinas Yuan Still Significantly Undervalued, Analyst Says - Bloomberg. Updated: New York, Jul 22 04:07 London, Jul 22 09:07 Tokyo, Jul 22 17:07. (Bloomberg -- Asia)
Transcript of a Conference Call on the Article IV Consultation with the United Kingdom Jul 22, 2009
Debt is rising fast, but recent market conditions in both the government bond market and also the foreign exchange market show that markets continue to give the UK the benefit of the doubt. This benefit of the doubt will not last forever, and the authorities clearly should not test the market's limits. (IMF News)
New Currency Chief Tamaki Says Abrupt Yen Movement May Prompt Intervention Jul 18, 2009
Japans foreign reserves are for the stabilization of the foreign exchange market, Tamaki said. Liquidity and safety is the most important factor when we manage the foreign reserves. (Bloomberg -- Japan)
Treasury Pulse Jul 18, 2009
Foreign Exchange Market. The US dollar fell against most major currencies on a revival of risk appetite this past week. (The Star Online, Malaysia -- Business)
Tamaki, Finance Ministry's New Currency Chief, Says Intervention an Option Jul 17, 2009
Japans New Currency Chief Tamaki Says Intervention an Option - Bloomberg. Updated: New York, Jul 17 04:12 London, Jul 17 09:12 Tokyo, Jul 17 17:12. (Bloomberg -- Japan)
RBA sells record volumes of Aussie dollar Jul 17, 2009
Australias central bank sold a record amount of Australian dollars in the spot foreign exchange market in June, suggesting a move by the government to increase its reserves at a time when the currency is near nine-month highs ... 94bn in the spot foreign exchange market in June, according to figures issued on Thursday the largest single amount seen in any month. (FT.com -- Markets)
Dollar pares gains on US bank jitters Jul 16, 2009
94 billion on a net basis in the spot foreign exchange market in June. The sales came after the RBA sold $1. (Sydney Morning Herald -- Business)
RBA sells record dollar amount Jul 16, 2009
The sale was the largest since 1995 when the RBA began publishing its spot foreign exchange market transactions. The June transaction marked seven consecutive months of sales of Australian dollars by the central bank. (Sydney Morning Herald -- Business)
Asia Stocks Mostly Lower as Recovery Worries Weigh Jul 9, 2009
A currency dealer monitors the Tokyo Foreign Exchange Market in Tokyo, Thursday, July 9, 2009. In currencies, the dollar was trading at 93. (ABC News -- Wire)
'Most expensive' city ranking shows recession Jul 9, 2009
Most expensive' city ranking reveals currency tumult - CNN.com. Most expensive' city ranking reveals currency tumult. (CNN -- International)
Nigeria: Interest Rate Slashed to Six Percent Jul 8, 2009
Also yesterday, the CBN began a regime of liberalised foreign exchange market, removing all restrictions imposed recently on foreign exchange transactions and therefore increased the net open position limit for banks to five per cent of their capital base ... "The present situation offers an opportunity to further narrow the gap between the two rates by measures aimed at further liberalising the inter-bank foreign exchange market," he said. (allAfrica.com)
Oil plummets to $64 on economic recovery concerns Jul 7, 2009
Meanwhile, investors flooded into the foreign exchange market to seek refuge and push the dollar up for a third day versus the euro, which also encouraged selling in the oil market. In London, Brent crude for August delivery dropped 1. (Xinhuanet, China)
European stocks slide before US earnings data Jul 7, 2009
On the foreign exchange market, the European single currency fell to 1. 3895 dollars. (Yahoo News -- Press Releases)
RBI, SEBI likely in turf war Jul 6, 2009
At present, Sebi regulates segments of financial markets such as equities and listed corporate bonds while RBI regulates the money market and foreign exchange market, besides acting as a banker to the Centre and state governments. Similar suggestions on transfer of regulations to the market regulator have been made by earlier committees, and one of the reasons why it could revive now is because of the initiative taken by the government to set up a debt management office that would decide the... (India Times)
Tamaki to Head Japan's Foreign-Exchange Policy; Mikuniya to Oversee Banks Jul 3, 2009
Tamaki to Head Japans Currency Policy; Mikuniya Banking Chief - Bloomberg. Updated: New York, Jul 03 04:11 London, Jul 03 09:11 Tokyo, Jul 03 17:11. (Bloomberg -- Japan)
Unwinding AIG Prompts Pasciucco to Ponder Trades Risking Systemic Failure Jul 2, 2009
In addition to interest-rate swaps, the firm wrote currency swaps -- which let a buyer insure against volatility in the foreign exchange market -- and moved into equity derivatives, which are instruments tied to the price of an underlying stock or index. AIGFP helped finance its operations by selling guaranteed investment contracts, or GICs, which provide municipalities a place to park cash in exchange for a guaranteed return. (Bloomberg)
Bank Negara: Malaysia has scope to lower interest rates if needed Jun 30, 2009
We are still developing our foreign exchange market and we need to see all the preconditions in place before internationalisation of our currency. The dollar will still continue to be an important currency in the international financial system, she said. (The Star Online, Malaysia -- Business)
Brazilian Real Posts Third Weekly Gain This Month on VisaNet's Record IPO Jun 27, 2009
Brazilian Real Posts Weekly Gain on VisaNets Record IPO - Bloomberg. Updated: New York, Jun 27 04:18 London, Jun 27 09:18 Tokyo, Jun 27 17:18. (Bloomberg -- Latin America)
Rupee strengthens as shares gain Jun 26, 2009
Oil refiners are the biggest buyers of dollars in the foreign exchange market and they usuall 00004000 y make their import payments towards the end of each month. The main stock index rose 1 per cent in early trade as investors looked to build long positions after a 7. (India Times)
Swiss central bank moves to weaken franc Jun 25, 2009
The Swiss franc fell sharply on Wednesday after the countrys central bank intervened in the foreign exchange market to halt the currencys rise. Traders said the Bank for International Settlements was active in the market on behalf of the Swiss National Bank, first buying euros against the Swiss franc and later buying dollars against the Swiss currency. (FT.com -- Markets)
Poland -- Concluding Statement of the 2009 Article IV Consultation Jun 24, 2009
C. Monetary Policy and the Foreign Exchange Market. 9. (IMF News)
Dollar Falls Most Against Yen in Month on Outlook for Fed Interest Rates Jun 21, 2009
Dollar Falls Most Against Yen in Month on Fed Rate Outlook - Bloomberg. Updated: New York, Jun 21 04:22 London, Jun 21 09:22 Tokyo, Jun 21 17:22. (Bloomberg -- Europe)
Russia's anti-crisis measures take effect Jun 21, 2009
The foreign exchange market and stock market also show signs of stability. The Russian ruble has strengthened to 31 per dollar recently after the government used more than a third of its foreign currency reserves to stem the ruble's depreciation since last August. (Xinhuanet, China)
Chilean Peso Surges to Eight-Month High on $40-Million-a-Day Dollar Sales Jun 17, 2009
Chiles plan to sell more dollars is a material amount of regular dollar selling in this relatively small foreign exchange market, , head of emerging market research at RBC Capital Markets in Toronto, wrote in a report today. The central bank also announced yesterday that the government will sell $1. (Bloomberg -- Latin America)
