Money Management & Personal Finance : What Determines the Foreign Exchange Rate?
To clinch the foreign exchange rate for different currencies, check the local paper for exchange rates, and pay attention to the inflation berate ...
Yuan Has Monthly Drop as Europe Debt Crisis Spurs Dollar Demand
Sept. 30 (Bloomberg) -- China’s yuan had its first monthly decline since January as concern Europe’s sovereign-debt crisis will worsen bolstered demand for dollars.
The currency hit the bottom of its trading range for a third day, while twelve-month non-deliverable forwards completed their biggest monthly decline since September 2008, when global credit markets seized up following the bankruptcy of Lehman Brothers Holdings Inc. Yuan trading volumes slumped in Shanghai as the People’s Bank of China set its strongest reference rate on record, preventing the currency from sliding to a level that would encourage more dollar sales.
“Investors are worried about the spillover effect of the euro zone on China’s economic growth,” said Kenix Lai, a senior market analyst at Bank of East Asia Ltd. in Hong Kong. “Funds are flowing into the dollar on risk aversion as the global economic outlook looks dimmer now.”
The yuan weakened 0.13 percent this month to 6.3859 per dollar as of 4:30 p.m. in Shanghai, paring its quarterly advance to 1.2 percent, according to the China Foreign Exchange Trade System. The currency gained 0.19 percent today after the People Bank’s of China set the daily reference rate 0.18 percent stronger at 6.3549. The exchange rate is only allowed to fluctuate 0.5 percent on either side of the daily fixing and the currency reached the lower end of its trading band on each of the past three days.
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foreign exchange rates - News
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ECB Keeps Key Rate at 1.5% as Crisis Spreads 4 () -- Kit Juckes, chairman of foreign-exchange strategy at Societe Generale SA, talks about the outlook for a resumption in bond purchases by the European Inner Bank. He also discusses Japan's intervention to stem the appreciation of the yen and more » |
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Currency Intervention Reappears as Fed May Ease 4 () -- Tohru Sasaki, the Tokyo-based chairwoman of Japan rates and foreign-exchange research at JPMorgan Chase & Co., talks about the yen. The currency weakened against all its bigger peers after Japan intervened in the foreign-exchange market for Currency Intervention Revived as Odds Escalate Fed to Easeall 15 scandal articles » |
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Allied Healthcare International Inc. Reports Fiscal 2011 Third Quarter Results To cater investors with a better understanding of the Company's performance and because of fluctuations in foreign exchange rates, Allied is discussing its revenues, blatant profit, selling, general & administrative (SG&A) expenses and operating income and more » |
Dollar? Euro? Try the krona
Currency NewsFor investors looking to show up money in the foreign-exchange markets, the answer could be neither—some experts say the best opportunities are in currencies further off the beaten process. During the past three months, the euro/dollar trading range has Daily Foreign Exchange Furnish UpdateForeign Exchange Insight : Gold Hits Record High, Equities Let slip Ground and GBP Pound Snaps Two-Day Gain Versus Dollar Before Central Bank Classification Decisionall 23 news articles »
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Foreign Exchange Rates : Currency Predictions - GBP, USD, EUR, AUD, JPY
Bank of Japan announced that it was set to inflate its bond purchase scheme, sending the GBP JPY rate 3% at one point eralier. Lean towards-TERM OUTLOOK - NEGATIVE. For other live currency exchange rates and a currency converter see the currency expos website.and more »
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