All Entries in the "Forex" Category
IMF Meeting Failed To Create Consensus
IMF talks showed no progress as USA, EU and Japan failed to convince China to sharply revaluate renminbi and move quickly towards more market-oriented exchange rate policies.
China expressed fears in moving rapidly towards revaluating its currency as it would lead to social and economic unrest. China’s top central banker Zhou Xiaochuan insisted on a progressive [...]
IMF Must Reinforce Forex Monitoring
The US Treasury Secretary Timothy Geithner advised the International Monetary Fund to strengthen its surveillance of exchange rates policies and accumulation reserves to issue timely warnings to countries undervaluing their currency or accumulating massive surpluses while addressing IMF annual meeting on Saturday.
Earlier this week on Thursday IMF Chief Dominique Strauss-Kahn said that IMF should Initiate [...]
Dollar’s Fall Enhances India’s Forex Reserve To $294.16 Billion
India’s foreign exchange reserves climbed to $294.158 billion for the week ended Oct 1 increasing by $2.563 billion on account of revaluation of Indian rupee versus US dollar, Bank of India announced in its latest report on Friday.
The Indian rupee rise against US dollar has continued for last three weeks enhancing Indian foreign reserves [...]
Geithner: Currency Devaluation Not A Viable Strategy
On Wednesday, US Treasury Secretary Timothy Geithner warned emerging economies of the dangers of currency manipulation and its adverse effect on global economy in an indirect reference to the emerging “currency war”. He strongly advised emerging economies to progress toward more flexible and market based currency exchange system.
Geithner address at the Brookings Institution, [...]
American Optimism Pushes Dollar Up
The dollar climbed against the euro on Monday recuperating prior losses as traders’ slash bets the currency will decline based on speculations that Federal Reserve could further ease U.S. monetary policy.
A pending homes sales index report and reading for U.S. factory orders due today will furnish more economic insights for investors. A considerable number of [...]
Despite falling FDI in Pakistan, deficit narrows
The State Bank of Pakistan (SBP) Monday said that foreign investment in Pakistan fell 22 percent to $1.73 billion in the first 10 months of the 2009/10 fiscal year but country’s current account deficit in the same fiscal period narrowed to a provisional $3.060 billion.
Foreign investment in Pakistan during the same period last year was [...]
Risk outweighs benefits of leveraged ETFs
What are Leveraged ETFs?
Leveraged ETFs can be defined as Exchange Traded Funds that use a combination of derivative and debt to enhance returns for investor. Here is a simple example of how a leveraged ETF works. Let us say a leveraged ETF tracks the S&P 500 Index.
Assume that for every invested dollar in the fund, [...]
Euro hits one-year low against the dollar
Amid growing fears over the sovereign debt issues of few European countries euro continued it’s downward spiral hiting a fresh one-year low against the dollar in Asia Wednesday.
Downward spiral accelarated after Standard and Poor’s downgraded Greece’s government debt to junk status and sliced Portugal’s ratings by two levels.
The downgrades fueled worries that a sovereign debt problem could [...]
Yuan Down Late On Dollar Strength
As key Chinese economist cautioned that appreciation of local currency will drive exporters out of business, China’s yuan slid lower against the U.S. dollar late Friday afternoon due to the U.S. unit’s strength against other major currencies during Asian trading hours.
Comments by Chinese bankers today underscores the domestic political pressures on Beijing amid growing international calls for China [...]
Pakistan recieves $5.7 billion in remittances
Pakistanis living abroad have send nearly $5.7 billion between July 2009 to February 2010, nearly 17 percent increase from the monies transfered during the same period in previous fiscal year. Last year non-resident Pakistanis had sent $4.9 billion.
For economies like Pakistan, funds repatriated by non-residents to family and friends back home, provide the most tangible link [...]