Archives for February 2008

Ms Shyroz Shasudini Karmali Mohamed, Ms Saira Banu Gandrokia and Ms Sima Shaukat Ali Khan allegedly stole Sh5,365,917 from Chase Forex Bureau De Change Ltd on five different dates between December 19, 2006, and March 2, 2007. Ms Mohamed, Ms Gandrokia and Ms Khan allegedly stole the money which came into their possession by virtue of their employment. The first charge is that the three jointly stole US$4,500, sterling pound 3,000, 5,000 euros and Sh610,000 on December 19, 2006. The second charge states that the clerks stole $23,826 (Sh1,667,820) on February 21, 2007. The court was also told that they stole sterling pound 1,515 (Sh207,555) on February 28, 2007. The fourth charge states that the three stole $13,000 (Sh914,200) on March 1, 2007. read more

[Tags]stole, ms, 2007, charge, march, states, forex news[/Tags]

Forex – US dollar higher in Sydney morning trade ahead of economic data – Forbes. SYDNEY (Thomson Financial) – The US dollar was higher against most major currencies midway through the morning session in Sydney on Wednesday, trimming overnight losses as investors positioned themselves ahead of the release of key economic data this week. Elsewhere, the Australian dollar extended gains against the US dollar in the morning session after the minutes from the Reserve Bank of Australia’s (RBA) interest rate meeting earlier this month showed the central bank contemplated raising rates by 50 basis points. 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. 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

[Tags]news, content, forbes, , data, dollar, forex news[/Tags]

THE dollar strengthened against all the majors overnight and has opened marginally firmer against the greenback after a public holiday in the US thinned volumes. Macquarie Group associate director of foreign exchange Joanne Masters said the dollar was well supported overnight, benefiting from a boost in risk appetite that also saw European stocks rally. Ms Masters said a speech by Reserve Bank of Australia (RBA) assistant governor Malcolm Edey today and the release of the minutes from the central bank’s last board meeting should offer the currency further support through the local session. Higher interest rates, used to combat inflation, can strengthen a currency by giving investors higher returns on investments denominated in it. News on your mobile NEWS. read more

[Tags], currency, dollar, higher, news, overnight, forex news[/Tags]

Get Malaysia Sun headlines emailed to you daily. Eastern African is working toward a common currency. Governors of the central banks of Kenya, Uganda, Tanzania, Rwanda and Burundi want a study to evaluate the level of readiness for the union of states to have a common currency. Last month in Uganda the Monetary Affairs Committee said the central banks had already done substantial work in laying foundations for a convergence of nations, but had not yet carried out a comprehensive study to review the convergence criteria. The Monetary Affairs Committee has been mandated as the board to oversee partner states to lay the foundation for the common currency. It will look at inflation and interest rates, level of budgetary deficits and foreign exchange reserves. read more

[Tags]common, currency, affairs, banks, central, committee, forex news[/Tags]

MOSCOW, Feb 15 (Reuters) – Russia will need to liberalise its exchange rate regime if it wants the rouble to become a reserve currency, fulfilling an ambition stated by the country’s most likely next president, analysts said on Friday. Russia runs a managed float of the rouble, keeping it stable against a dollar/euro basket but Finance Minister Alexei Kudrin said Russia will allow the rouble to float freely in three years as part of a transition to inflation targeting regime. Russia ran a trade surplus of about $23 billion in 2007 with its ex-Soviet neighbours and is an important trade partner for countries like Kazakhstan or Ukraine, which run gold and forex reserves of $19 billion and $32 billion respectively. Kazakh Prime Minister Karim Masimov told RIA news agency in an interview last month that Kazakhstan did not plan to include the rouble in its reserves, adding that Russia should first fulfil its ambition to become the world’s fifth largest economy. read more

[Tags]russia, reserves, billion, currency, medvedev, rouble, forex news[/Tags]

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. Reuters journalists are subject to the Reuters Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here . read more

[Tags]news, reuters, business, delayed, minutes, , forex news[/Tags]

Alexandria, Egypt, February 14, 2008 — The Forex Killer Mentor ( www. The forex killer newsletter is a jam packed e-course that contains the trading techniques and strategies used by the majority of traders. Here are the Highlights on why forex is becoming the go-to market for private and institutional traders alike. The new forex advice newsletter includes extensive educational content. This news content may be integrated into any legitimate news gathering and publishing effort. Email Form Your Name Your Email Your Recipient’s Name Your Recipient’s Email Comments Bookmark this Release Show all del. read more

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The Bangko Sentral ng Pilipinas (BSP) is reviewing the next phase of revisions to its foreign exchange (FX) regulations to enable non-banks such as investment houses, easier rules for FX transactions. A unit with a quasi-banking license is allowed to issue domestic debt securities like promissory notes, corporate papers and reverse repurchase or repo instruments to finance the securities portfolio. The increase was on residents? FX purchases from ,000 to ,000 per application from authorized agent banks (AABs) for non-trade current account transactions sans documentation. The BSP also raised to million from million per investor or per fund per year the allowable FX purchases by qualified investors (QIs) for outward investments without central bank approval. QIs includes insurance and preneed companies, and collective/pooled funds such as mutual funds, unit investment trust funds and variable insurance, public or private pension or retirement or provident funds. read more

[Tags]fx, bsp, funds, 000, purchases, year, forex news[/Tags]

Hong Kong’s foreign-currency reserves hit $159. Including unsettled forward contracts, Hong Kong’s official foreign-currency reserve assets stood at 159. The increase was mainly due to the purchase of foreign currencies with Hong Kong dollars and an increase in Certificates of Indebtedness, which reflected the seasonal demand for banknotes around the Chinese Lunar New Year. The total foreign-currency reserve assets of 159. Hong Kong is the world’s ninth largest holder of foreign-currency reserves after the Chinese mainland, Japan, Russia, India, Taiwan, South Korea, Brazil and Singapore. read more

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