Archives for June 2007

China’s legislature will review a proposal to issue special treasury bonds to buy foreign currency from the central bank at a session convening from June 24 to 29, the government said in a statement on its Web site Monday. China is setting up a State forex investment company that will use a portion of the country’s hefty foreign exchange reserves to buy investments with higher yields. Monday’s statement said that the review would center on the proposal that the Ministry of Finance issue special treasury bonds to buy foreign exchange, which is overseen by the central bank. New firm to tap forex reserves The National People’s Congress Standing Committee would also review a proposal to adjust the annual ceiling on treasury bond issuance in the country at the session, the statement said. Economists expect the finance ministry will sell yuan-denominated treasury bonds to buy US$200 billion to US$250 billion of foreign reserves from the central bank to put into the SIC, earlier media reported. read more

[Tags]sic, buy, foreign, treasury, bank, billion, forex news[/Tags]

LONDON (Thomson Financial) – The New Zealand dollar was little affected following reports that the Reserve Bank of New Zealand has again intervened to stem the currency’s rise. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. The content on this site, including news, quotes, data and other information, is provided by AFX News and its third party content providers for your personal information only, and neither AFX 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

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KUALA LUMPUR, June 16 (Bernama) — The ringgit is likely to weaken against the US dollar next week on lower demand for commercial activities amid expected consolidation in the local stock market, dealers said. The local currency had risen almost 15 percent to the US dollar since unpegged, in tandem with gains made on local stock market over the past months. The dollar, meanwhile, is expected to be higher next week, particularly against the Japanese yen as an interest rate hike is unlikely in Japan after the Bank of Japan left its benchmark lending rate unchanged yesterday. During the week, the local unit was mostly higher against the US dollar in line with the improved local stock market performance. read more

[Tags]dollar, local, ringgit, expected, higher, week, forex news[/Tags]

Yes Bank will act as a market maker for the dollar-rupee pair for corporates having subscription to Reuters terminal, while other small corporates or individuals can avail online forex trading in any currency pair through the bank’s website, Bank Group President Financial Markets Ajay Mahajan told reporters. In the last two years, Yes Bank has acquired more than 500 customers and it would make efforts to increase its customers through the offer, Mahajan said. Reuters South Asia Managing Director Samir Shah said that a recent Corporate Treasury survey carried out in India found that there was a high demand for electronic forex trading. Yes Bank is the first private sector bank to go ‘live’ in RTFX, which currently has Union Bank of India and Standard Chartered as the other two market makers. Copyright © 2007 Times Internet Limited. read more

[Tags]bank, corporates, customers, forex, india, mahajan, forex news[/Tags]

KUALA LUMPUR, June 15 (Bernama) — The ringgit was slightly higher against the U. The ringgit was mixed against other major currencies. Against the pound sterling, the ringgit appreciated at 6. This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA. read more

[Tags]ringgit, bernama, , 15, 2, 4, forex news[/Tags]

Legal disclaimer and risk disclosure iFOREX is in the business of teaching analysis of forex trends, and proposing potential trading signals – not recommendations. All statements and expressions are the opinion of the forex experts at iFOREX and are not meant to be either investment advice or a solicitation or recommendation to establish market positions. The staff at iFOREX is not to be held responsible for individual market positions, all trades that clients may take are based on their own final decisions. We do not accept any liability for any loss or damage whatsoever, that may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in the trading signals or in any accompanying chart analyses, whether communicated by word or message, typed or spoken by any of iFOREX employees. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. read more

[Tags]1, iforex, trading, , advice, forex, forex news[/Tags]

Henry Paulson at the Fed and company know it’s not time to rock the boat when there’s $415 trillion of derivatives in the market, predicated on low volatility and smooth sailing in the “global” economy. We all must bow down to the “global” economy and bend over to the mantra of “free trade”. No matter that China restricts all kinds of access to Western goods and services – and counterfeits the heck out of those it lets in. Yes, I know it’s impolite to criticize China for they are all goodness and light in the eyes of the intelligentsia who are already well ensconced with real assets there and have many other major deals pending. So much so that it has plenty left over to place with a key intelligentsia member named Blackstone – and maybe some others we don’t know about. There are no signs the Bank of Japan has entered the market for a very long time – it hasn’t needed too. read more

[Tags], global, currency, china, economy, dont, forex news[/Tags]

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