Archive for December 3rd, 2008
Yuan Trades Near Five-Month Low as China Seeks to Boost Exports
By Judy Chen and Belinda Cao
Dec. 3 (Bloomberg) — China’s yuan traded near the lowest in more than five months, falling by the 0.5 percent limit from the daily reference rate, on speculation policy makers favor a weaker currency to support exports.
Posted: December 3rd, 2008 under News.
Tags: currency, Dollar, exchange-rate, reference rate, speculation, Yuan
Comments: none
British Pound Climbs Against Dollar After Equities Rebound
By Gavin Finch and Matthew Brown
Dec. 2 (Bloomberg) — The pound rose against the dollar as stock advances in Europe rekindled risk appetite, spurring demand for the U.K. currency.
Posted: December 3rd, 2008 under News.
Tags: Britihs currency, currency crisis, Dollar, Euro, Pound, Recession, Stock, yield
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Ruble Plunge Prompts Doubling of Reserve Spending, Survey Shows
By Emma O’Brien
Dec. 2 (Bloomberg) — Russia’s central bank probably doubled spending of foreign reserves to defend the ruble from its biggest weekly plunge against the euro in more than four years, according to the median of 10 analyst estimates.
Posted: December 3rd, 2008 under News.
Tags: Dollar, Euro, Financial crisis, interest rates, Russian currency, Russia’s central bank
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Mexico to Require Companies to Detail Derivative Bets
By William Freebairn
Dec. 2 (Bloomberg) — Mexico’s securities regulator will force companies to provide a more detailed explanation of their derivative holdings, mirroring a move by Brazil, after wrong-way bets triggered more than $3 billion in losses.
Posted: December 3rd, 2008 under News.
Tags: currency, Disclosures, Financial Markets, global financial crisis, peso, Securities
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Latin America Currencies: Argentina’s Peso Falls for 15th Day
By Drew Benson and Andrea Jaramillo
Dec. 2 (Bloomberg) — Argentina’s peso fell for a 15th day, its longest losing streak since the government abandoned a one- to-one peg with the dollar in 2002, as the central bank seeks to smooth out a slide sparked by a tumble in commodity exports.
Posted: December 3rd, 2008 under News.
Tags: Argentina's peso, Banco de la Pampa, bond, Chilean currency, Colombia's peso, Colombia's stock exchange, devalue, inflation, Latin America Currency, official exchange rate, peso, Recovery
Comments: none
Currency Funds Had Best Month Since 2003, Parker Says
By Jamie McGee
Dec. 2 (Bloomberg) — Foreign-exchange funds had their biggest monthly returns in October since 2003 as investors sold higher-yielding assets and bought the U.S. dollar, according to Parker Global Strategies LLC.
Posted: December 3rd, 2008 under News.
Tags: Assets, Currency fund, Dollar, Foreign-Exchange, ICE's Dollar Index, U.S. dollar
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