Friday 24 October 2014
 
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exchange rate

EUR/USD: Fed move key factor

A notable technical feature of EUR/USD exchange rates in recent years has been its decline in volatility. It seems that the fortunes of the USD during 2014 will be most affected by how long the Fed has to delay implementing the tapering program,

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Gulf must consider flexible exchange rate: banker

  Qatar and other Gulf states should consider moving to a more flexible exchange rate from long-entrenched pegs to the US dollar, to better manage inflation risk in the next decade, a senior Qatar c

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Egypt pound opens weaker

The Egyptian pound opened at 5.892 to the US dollar on Sunday after a week-long bank closure before weakening to around 5.9 to the dollar, Egypt's central bank Deputy Governor Hisham Ramez said. The pound last traded at 5.855 before ba

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Egypt pound hits new low to dollar

The Egyptian pound traded as low as 5.7055 to the dollar on Tuesday, its weakest since January 2007. 'Foreigners are going out of the stock exchange,' says a forex dealer at an Egyptian bank, putting selling pressure on pounds as

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China denies currency manipulation

Beijing offered a robust defence of its currency policy on Tuesday, denying that it manipulates the yuan and rejecting the argument that a stronger exchange rate would erase the US trade deficit with China. A Foreign Ministry spokesman, Ji

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Euro overvalued, dollar risks another fall says EU

Exchange rates are "a real problem", with the euro being overvalued and the dollar facing the risk of another fall, European Union Monetary Affairs commissioner Joaquin Almunia said. "Exchange rates are a real problem," he said in an inter

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Kuwait lets dinar rise against dollar

Kuwait's central bank allowed the dinar to appreciate against the dollar on Sunday after the US currency fell against the yen. The dinar will trade around a mid point of 0.28150 per dollar compared with 0.28160 on Thursday, the central ban

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Kuwait lets dinar rise to three-week high

Kuwait's central bank allowed the dinar to appreciate against the dollar on Sunday to its highest in three weeks, after the euro recorded its biggest weekly gain against the greenback since mid-March. The dinar will trade around a mid poin

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Abu Dhabi promises moves to curb inflation

Abu Dhabi is considering active monetary and fiscal policy actions at the federal level to check the impact inflation on the economy. In view of the growing worries of business establishments on the rising cost of doing business, the rece

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Saudi 'will maintain riyal rate till 2010'

Saudi Arabia will ride out the latest spell of dollar weakness and maintain the riyal's exchange rate against the US currency at least until 2010, Jadwa Investment Company said in a research note. "None of the arguments that have been put

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