Foreign Exchange News

NEW YORK, Dec 8 (Reuters) - U.S. crude oil futures rose on Monday, rebounding from Friday's near four-year low as hopes for more economic stimulus lifted global equities, the dollar slid versus the euro and industry sources said Saudi Arabia would cut supply further. "Global investors have apparently taken a significant degree of solace from Congress' apparent move towards a bailout of the a ...

NEW YORK, Dec 8 (Reuters) - U.S. crude oil futures rose on Monday, rebounding from Friday's near four-year low on support from a global equities rally, the dollar's slide versus the euro and indications that Saudi Arabia is cutting supply. "Crude and products futures rallied about 5 percent on good volume overnight, lifting to catch up with the late-day rally in equities on Friday and contin ...

By Sebastian Tong LONDON, Dec 8 (Reuters) - U.S. President-elect Barack Obama's weekend pledge, to create some 2.5 million new jobs as part of an economic recovery plan for the world's biggest economy, kicked off a broad rally in emerging assets on Monday. Most emerging European currencies shrugged off the prospect of easing interest rates to firm on improved investor sentiment. Obama's Saturda ...

BELGRADE, Dec 8 (Reuters) - Serbia's central bank on Monday changed reserve requirement rules and gave banks seven weeks to cut foreign exchange risk exposure as it tries to limit the risks posed to its economy by the global financial crisis. The bank has decided to keep its key policy rate, the two-week repo, on hold at 17.75 percent, lifted the dinar reserve requirement against foreign b ...

JAKARTA, Dec 8 (Reuters) - Indonesia's central bank said it has introduced a new rule enabling exporters to receive payment faster, in an attempt to reduce the impact of a global credit crunch on Southeast Asia's biggest economy. Indonesia depends on exports of commodities including coal, oil, and palm oil, as well as of manufactured goods ranging from toys to textiles. Some compan ...

HONG KONG, Dec 8 (Reuters) - The following is a snapshot of the Hong Kong foreign exchange and money markets in late trade on Monday. Close Morning Previous Close At 0842 GMT At 0317 GMT At 0905 GMT HK$ SPOT 7.7507/08 7.7508/10 7.7511/12 FORWARDS Three-month -76/-71 -76/-69 -75/-70 Six-month -35/-20  ...

LONDON, Dec 8 (Reuters) - British producer prices and costs fell in November as oil and petroleum product prices declined sharply, official data showed on Monday, in a further sign that inflationary pressures are cooling. However, the costs of some imported materials rose, suggesting the weaker pound may be having an impact. The Office for National Statistics said output prices f ...

LONDON, Dec 8 (Reuters) - British producer prices and costs fell in November as oil and petroleum product prices declined sharply, official data showed on Monday, in a further sign that inflationary pressures are cooling. However, the costs of some imported materials rose, suggesting the weaker pound may be having an impact. The Office for National Statistics said output prices f ...

FRANKFURT, Dec 8 (Reuters) - The European Central Bank called for bids in its latest Swiss franc foreign exchange swap on Monday, offering to provide banks with up to 20 billion euros' worth of 7-day Swiss franc funds. Bids are due by 0845 GMT and the results of the operation, are due shortly after 1100 GMT, the ECB said on its information page. The swap points were set at -6.19 po ...

HONG KONG, Dec 8 (Reuters) - Hong Kong shares soared 8.2 percent to a seven-week high on Monday on talk of further measures from China to support banks and markets as well as push up consumption in the world's fastest-growing major economy. The benchmark Hang Seng Index unofficially closed 1128.78 points higher at 14,974.87 after breaching the 15,000-point level earlier. A strong s ...