| FOREX: Ringgit Ends On A Mixed Note
KUALA LUMPUR, Jan 25 (Bernama) -- The ringgit was little changed against the US dollar and mixed against other major currencies Thursday as market players sidelined ahead of Bank Negara Malaysia's Monetary Policy Committee meeting Friday. At 5 pm, the ringgit was quoted at 3.5000/5020 compared with 3.5000/5010 at Wednesday's closing, dealers said. They said the central bank was likely to retain the overnight policy rate (OPR) at current level of 3.5 percent, as the inflation rate has come to a moderate mode on the back of a promising economic outlook for the country. One dealer said the local currency would continue to move in a tight range ahead of the weekend. Meanwhile, against the Singapore dollar, the ringgit rose to 2.2797/2825 from 2.2798/2815 while softened against the Japanese yen to 2.9000/9029 from 2.8959/8975 previously.
Yuan ends up vs dlr after day spent mostly weaker
SHANGHAI, Feb 9 (Reuters) - The yuan ended slightly higher against the dollar on Friday after trading lower for most of the day in response to a weaker mid-point set by the central bank. Dealers said some banks sold dollars in the last 15 minutes of trade, propelled by yuan demand ahead of the weekend, but that did not reflect Friday's general trend, nor an expected weakening ahead of the Chinese Lunar New Year, which falls in mid-February. Trading was not affected by the finance minister and central banker meeting of the Group of Seven in Germany. The central bank set Friday's mid-point at 7.7575, weaker than Thursday's mid-point of 7.7526. It was the second straight day that the mid-point was set at a lower level. "The yuan has again fallen into a pattern of a big step forward and a small step backward," said a dealer at a Chinese commercial bank.
Rand falls but seen climbing
Johannesburg - The rand was a touch weaker against the dollar on Wednesday, but market players said positive emerging market sentiment and an uptick in metals prices could see the currency test stronger levels. The rand stood at R7.1850/US$ at 08:43 from its New York close of R7.1725 on Tuesday. "Emerging markets have remained relatively strong for a couple of days along with the euro/dollar jumping up overnight, and commodities looking okay, that (should be) good for the rand," said a Johannesburg-based trader. The local currency would likely range within a R7.15/22 band against the dollar on the day, he added. The euro - currency of South Africa's main trading partner - ticked up to $1.2985 earlier, in what traders said was a largely technical rise against the dollar.
New Exchange Traded Funds (ETFs) On The SWX Swiss Exchange
Five new products have been listed in the Exchange Traded Funds segment of the SWX Swiss Exchange, taking the total to 66 ETFs. The new funds are: Lyxor ETF Dax. The trading currency is EUR. Lyxor ETF MSCI India. The trading currency is USD. Lyxor ETF MSCI USA. The trading currency is USD. Lyxor ETF MSCI World. The trading currency is USD. Lyxor ETF Japan (TOPIX). The trading currency is JPY. Société Générale has signed a market-making agreement with SWX and will be responsible for ensuring liquidity in these securities. SWX Swiss Exchange
The SWX Swiss Exchange, a part of the SWX Group, is one of the world's leading and most technologically advanced securities exchanges. The fully automated trading, clearing and settlement system remains unique in the world.
Nigeria: Experts Brainstorm On Exchange Rate Management
Dynamics of exchange rate management in Nigeria was the theme of CBN's 8th annual seminar for financial correspondents. Experts agreed that there has been some level of stability in the management of the exchange rate but argued that the exchange rate should be devoid of undue volativity and oscillation. The Japanese and most of the "Asian tiger economies" didn't care too much about the exchange rates because of their culture of productivity. He explained that from his experience, and from the literature on development economic and general interaction with development policy makers, most of the countries that developed in the past few decades were "culture bound;" that is, they were able to use their cultures to drive their growth process. The "Asian tigers," he said, "did not need to ban any product from coming into their country because even if it came in only a few would consume it.
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