Arab Today, arab today asian currencies touch 14year peak
Last Updated : GMT 19:58:22
Arab Today, arab today
Arab Today, arab today

Asian currencies touch 14-year peak

Arab Today, arab today

Arab Today, arab today Asian currencies touch 14-year peak

Tokyo - Arabstoday

Asian currencies advanced to a 14-year high after European leaders pledged more aid for Greece, easing concern the debt crisis will worsen and bolstering demand for emerging-market assets. The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-traded currencies excluding the yen, reached the highest level since August 1997 and completed a weekly gain after the 159 billion euro ($229 billion) package was announced. China’s yuan rose to a 17-year high on Friday, the Philippine peso reached a three-year peak and South Korea’s won touched the strongest level since August 2008. “It’s quite clear that the risk environment has improved significantly as the European summit agreement has helped to calm fears over the debt problems in Europe,” said Moh Siong Sim, a currency strategist at Bank of Singapore Ltd. The peso strengthened 1.3 per cent this week to 42.403 versus the dollar in Manila, according to data compiled by Bloomberg. Malaysia’s ringgit appreciated 1 per cent to 2.9755, Thailand’s baht climbed 0.8 per cent to 29.83, Singapore’s dollar added 0.8 per cent to S$1.2091 and the won rose 0.6 per cent to 1,051.98. The ringgit reached a two-month high on speculation the central bank will raise borrowing costs after Governor Zeti Akhtar Aziz said curbing inflation is a priority. Consumer prices in Malaysia rose to a two-year high of 3.5 per cent in June, according to official data released July 20. “The ringgit could hold on to its strength as there are growing expectations that the Malaysian central bank will raise its policy rate,” said Calbert Loh, head of treasury at Bangkok Bank Bhd. in Kuala Lumpur. The peso gained the most this week since September 2010 after the International Monetary Fund said on July 20 that the near-term outlook for the Philippines was favorable. “The fundamentals, growth prospects and the fiscal side remain positive in the Philippines,” said Lito Biacora, vice president for treasury at Bank of the Philippine Islands in Manila. The baht had a third weekly advance as overseas investors added to their holdings of the nation’s stocks. Global funds bought $370 million more Thai equities than they sold this week through July 21, taking this month’s net purchases to $762 million. Indonesia’s rupiah appreciated 0.3 per cent this week to 8,523 per dollar after Fitch Ratings said on July 19 that the country may achieve an investment-grade credit rating before the end of next year. Fitch rates Indonesia BB”, one step below investment grade. The yuan posted its biggest weekly gain in three months after the central bank signaled it favors a stronger currency to curb inflation. The currency advanced 0.27 per cent to 6.4455 per dollar. Elsewhere, Taiwan’s dollar strengthened 0.2 per cent this week to NT$28.83 against its US counterpart and India’s rupee added 0.3 per cent to 44.3950. Asian stocks rose, with the regional benchmark index erasing its loss for the year, as a new aid plan for Greece eased concern Europe’s debt crisis will spread, reducing uncertainty about bank earnings. HSBC Holdings Plc (HSBA), Europe’s biggest lender by market value, climbed 2.8 per cent in Hong Kong. Mitsubishi UFJ Financial Group Inc, Japan’s largest bank by market value, jumped 3.3 per cent in Tokyo after the Nikkei newspaper said the lender’s profit may have more than doubled. Samsung Electronics Co., the world’s biggest maker of computer memory chips, rose 1 per cent after Microsoft Corp. and Advanced Micro Devices Inc. posted profits that beat estimates. “Europe seems to have prevented the Greek sovereign-debt issue from escalating into something bigger,” said Ng Soo Nam, the Singapore-based chief investment officer at Nikko Asset Management Co., which oversees about $154 billion. The MSCI Asia Pacific Index gained 1.3 per cent 138.94 as of 7:16 p.m. in Tokyo, its biggest advance this month and headed toward its highest close since May 5. About four stocks rose for each that fell on the gauge, which is headed for a 2.3 per cent advance this week. The measure dropped last week for the first time in four weeks after European finance ministers declined to rule out a temporary default for Greece and as Moody’s Investors Service put the US under review for a possible credit-rating downgrade. From / Gulf Today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today asian currencies touch 14year peak Arab Today, arab today asian currencies touch 14year peak

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed

GMT 09:00 2017 Thursday ,16 February

Bahrain Bourse daily trading report

GMT 05:07 2017 Thursday ,16 February

Saudi stocks rise 0.6%

GMT 04:45 2017 Thursday ,16 February

Gold prices edge lower
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday