Archives for June 2008

THE Reserve Bank of Zimbabwe (RBZ) has launched an investigation into financial institutions that have been allegedly abusing the interbank foreign exchange market with a view to cancelling their operating licences. It was not clear whether this was an official document from the central bank but RBZ governor, Gideon Gono, last night denied having ordered banks to stop trading foreign currency on the interbank market. The central bank is investigating allegations in the market that some managers within the banking community are buying foreign currency in their individual capacities but using their bank?s structures. The investigators believe that some banks have not been allocating foreign currency to the priority list set by the central bank when the interbank market was introduced two months ago. read more

[Tags]bank, interbank, currency, market, foreign, central, forex news[/Tags]

KARACHI, June 19 (Reuters) – Pakistan’s foreign reserves fell by $44 million to $10. Reserves held by the State Bank of Pakistan fell by $12 million to $8. Pakistan’s foreign exchange reserves hit an all-time high of $16. Thomson Reuters is the world’s largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters. read more

[Tags]news, foreign, reserves, reuters, bank, pakistans, forex news[/Tags]

The US dollar ended cheaper against the rupee at Rs 42. Meanwhile, the Reserve Bank of India (RBI) fixed the reference rate for US dollar at Rs 42. The rupee premiums on forward dollar continued its slide for another day and ended sharply down due to sustained receivings by exporters. The benchmark six-month forward dollar premium payable in November ended at 46-1/2 – 48-1/2 paise, lower from 57 ?” 59 paise on Monday and the far-forward maturing in May closed down at 92 – 94 paise from 106 – 108 paise previously. The domestic currency bounced back with a vengeance against the pound sterling and ended higher at Rs 83. read more

[Tags]rs, ended, paise, dollar, pts, rupee, forex news[/Tags]

LITTLE ROCK – Legislators today will consider whether the state should oversee the process firms use to place foreign exchange students in Arkansas. Representatives from at least one company that currently places foreign students in state high schools, as well as from Fayetteville High School, which decided this month to stop accepting foreign students from a Massachusetts firm, where scheduled to appear before legislative committees studying the issue. Sue Madison, D-Fayetteville, asked for the study on placement of foreign exchange students with host families in Arkansas after receiving complaints that some of the students were being placed with families ill-equipped to take care of them. State Department was investigating complaints about placement of foreign students in Arkansas by Education First Foundation of Foreign Study of Cambridge, Mass. Earlier this month, after repeated problems with the firm, Fayetteville High School decided to no longer accept students provided by the company. Madison said lawmakers “need to understand, first, how the process works, the various steps used to find slots for the students in schools and how they try to find families, what is expected of the families and if they are told what is expected of them. read more

[Tags]students, foreign, company, exchange, fayetteville, families, forex news[/Tags]

LONDON (Thomson Financial) – The euro firmed sharply after the final reading of euro zone inflation during May was revised higher, reinforcing expectations the European Central Bank will raise interest rates next month. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. Neither the Subscriber nor Thomson Financial News warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by Thomson Financial News and its third party content providers for your personal information only, and neither Thomson Financial News nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Sitemap Help Contact Us Investment Newsletters Forbes Conferences Forbes Magazines Forbes Autos Ad Information Forbes. read more

[Tags]financial, news, thomson, content, euro, forbes, forex news[/Tags]

Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. read more

[Tags]carries, exchange, foreign, high, investors, level, forex news[/Tags]

Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. read more

[Tags]carries, exchange, foreign, high, investors, level, forex news[/Tags]

Pointing out that the students come with their own spending money and medical coverage and pay for their school lunches, Barton says the cost to a host family is basically the price of setting another plate at the table, plus that of gasoline depending on how often the student needs transportation to activities. You really make someone’s dreams come true,” said Christina Price of Berryville, whose family hosted Lavinia Ferne , an 18-year-old girl from Italy. Ferne, who participated in cross-country and tennis and served as a mentor at Berryville Primary School, graduated with the Class of 2008, but still must attend one more year in her native Italy where school lasts 13 years. Ana Badiola, a 16-year-old from northern Spain who stayed with the family of Tammy and David Lanham of Bluemont, said the experience was an excellent opportunity to study English. Badiola, who will be a senior and graduate in Spain next year, took art class and helped make sets for the high school’s drama and theater productions. read more

[Tags]barton, school, students, class, families, family, forex news[/Tags]

According to the latest figures released by the Reserve Bank of India in its weekly statistical supplement (WSS), banks raised fresh deposits worth Rs 61,507 crore in May, taking the outstanding deposits to Rs 32,53,699 crore as on May 30. While demand deposits rose by a mere Rs 748 crore, term deposits went up sharply by Rs 60,759 crore. Banks have lent Rs 43,303 crore in May, taking the outstanding bank credit to Rs 23,72,369 crore. Both food and non-food credit rose by Rs 7,355 crore and Rs 35,948 crore during the month, respectively. read more

[Tags]rs, crore, bank, story, chat, click, forex news[/Tags]