TOKYO — The US dollar surged in Asian trade on Friday after topping the 100 yen level for the first time in four years, but analysts warned that the Japanese unit’s sharp drop was a double-edged sword. The greenback changed hands at 101.00 yen in afternoon Tokyo trade against 100.55 yen in New York Thursday afternoon — it was last …
Read More »
SINGAPORE: The Malaysian ringgit led gains in emerging Asian currencies on Thursday, with most regional units set to see monthly rises as risk appetite improved after a relatively smooth sale of Italy’s bonds and on strong U.S. business spending. The ringgit rose as investors rushed to cover short positions, shrugging off news that central bank was set to impose tighter …
Read More »
Asian currencies had the best quarter in two years after global policy makers announced plans to pump money into financial markets to support growth, spurring capital flows into higher-yielding assets. The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s most-active currencies, rose 1.8 percent since June 30 as the Federal Reserve, the European Central Bank and theBank of Japan (8301) expanded …
Read More »
MUMBAI: Foreign exchange reserves grew by $1.61 billion to $296.05 billion for the second consecutive week on the back of a rise in the core foreign currency assets. The total reserves had risen by $55.8 million to $293.44 billion in the previous reporting week, according to the RBI data. Foreign currency assets, a major component of the forex reserves, rose …
Read More »
Asia Finance News Asia finance news, banking, market analysis, business, Forex, trade, Cryptocurrency as it is happening in Asia. Trusted gateway for Asian financial news.