Foreign Exchange News

NEW YORK (AFX) - The rising euro might make it more expensive for Americans to travel to Europe, but U.S. companies that do business there will likely be able to cash in on the currency fluctuation. The Federal Reserve's two-year campaign to raise interest rates has helped keep the dollar stable, and its pause last month caused the euro to rise back toward record levels. On Friday, the dollar gai ...

The dollar edged higher against the euro, but was little changed versus the yen early Friday, as traders squared their positions ahead of the weekend. Meanwhile, the yen found support after news that China raised its benchmark one-year lending and deposit rates by 0.27% as part of its ongoing attempt to rein in surging investment and loan growth. "Consolidative trading is likely to persist,  ...

MOSCOW (AFX) - The rouble changed hands at 26.75 per US dollar on the foreign exchange market compared with 26.72 yesterday. Against the euro, the rouble traded at 34.33 compared to 34.36. Volume was 669.9 mln usd compared with 641.5 mln yesterday and 16.5 mln eur against 27.7 mln. newsdesk@afxnews.com afp/lam/cml COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, repu ...

HONG KONG (Dow Jones) -- China's central bank raised its benchmark one-year lending and deposit rates by 0.27% Friday as part of its ongoing attempt to rein in surging investment and loan growth. The People's Bank of China said it was increasing its one-year lending rate to 6.12%, and the one-year deposit rate to 2.52%, according to reports. It said the increases will take effect on Aug. 19. ...

BEIJING (XFN-ASIA) - The yuan ended at 7.9745 to the dollar on the over-the-counter (OTC) market, against yesterday's close of 7.9686, traders said. The yuan traded between 7.9780-7.9720, according to a dealer with a domestic bank. The central bank set a central parity rate of 7.9736 to the dollar before the start of trading, compared with yesterday's rate of 7.9748. The People's Bank of China  ...

SINGAPORE (XFN-ASIA) - The US dollar fell back slightly in afternoon trade giving up some of its overnight gains as some light profit taking emerged, dealers said. The greenback had put on solid gains in New York overnight following the release of a better-than-expected Philadelphia Federal Reserve manufacturing survey which jumped to 18.5 index points in August from 6.0 a month earlier. The new ...

SHANGHAI (XFN-ASIA) - The yuan ended at 7.9737 to the dollar on the exchange-traded market, against yesterday's close of 7.9716, traders said. The central bank set a central parity rate of 7.9736 to the dollar before the start of trading, compared with yesterday's 7.9748. The People's Bank of China allows a trading band of 0.3 pct on either side of the midpoint. The day's last trading price of 7 ...

TOKYO (XFN-ASIA) - The US dollar was moving in narrow ranges against other major currencies in afternoon trading here after the release of strong US manufacturing data overnight helped ease heavy selling of the greenback triggered by tame inflation data earlier in the week, dealers said. "The market now lacks strong and convincing leads to move the dollar/yen in either direction, so particip ...

BEIJING (XFN-ASIA) - China's National Foreign Exchange Center said the central bank has set the yuan central parity at 7.9736 to the dollar. The rate, published on the official Chinamoney website, compares with midpoint of 7.9748 set the previous trading day. The People's Bank of China started setting a daily central parity rate on Jan 4. On July 21, 2005, China freed the yuan from an 11-year p ...

SHANGHAI (XFN-ASIA) - The People's Bank of China (PBoC) may widen the yuan trading band as currency fluctuations approach the daily limit set by the central bank, the China Securities Journal reported in a front page story, citing unnamed industry observers. Currently, the yuan is allowed to move 0.3 pct on either side of a mid-point set by the central bank everyday before the start of trading.  ...