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- Saudi economy minister holds talks with EU officials
- Saudi point-of-sale spending holds firm above $3bn
- Saudi Arabia climbs to 46th in UN Global Innovation Index
- Alba, Hydro strengthen alumina-supply partnership
- Bahrain All Share Index, Islamic Index close lower
- Gulf Bank continues to support youth, SMEs
- NBK elevates employee experience with innovative digital solutions from Weyay Bank
- Boursa Kuwait and MSCI host corporate research session
- KPC chief highlights transformation and innovation at oil sector forum
- Diversification drive and LNG expansion to boost financial sector
08/03/2017 06:07 AST
The pound extended losses amid renewed political uncertainty over the UK's plan to exit the European Union, while the dollar mostly traded in a small range ahead of tier-one economic data expected later this week.
Sterling breached key technical support at 1.2200 per dollar for the first time since January 18 amid concern Prime Minister Theresa May could face another setback in her effort to trigger Brexit as lawmakers demand more power to shape the final deal she reaches with the EU. In addition, the pound sentiment was also weakened by data showing the pace of UK annual house-price growth slowed, adding weight to predictions of an economic slowdown.
The Aussie gained after the Reserve Bank of Australia said the global economy has improved while local consumption growth was stronger. It pared gains thereafter as traders took note of the RBA's warning over the negative effects of a strong currency.
Despite persistent Brexit uncertainties, upcoming euro-area elections and rising expectations for an imminent US interest-rate increase, global currency volatility remains in its downward trajectory this year. Demand to own gamma for the short term remains relatively low, despite sporadic increases, according to traders in Europe.
Gulfnews
| Ticker | Price | Volume |
|---|
| US Dollar | 1.00 |
| Euro | 0.88 |
| British Pound | 0.77 |
| Japanese Yen | 113.21 |
| Saudi Riyal | 3.75 |
| Kuwaiti Dinar | 0.30 |
| Derham Emirati | 3.67 |
| Bahraini Dinar | 0.38 |
| Omani Riyal | 0.39 |
| Qatari Riyal | 3.67 |
11/09/2025
Remittances from the UAE are on the rise as several South Asian currencies have weakened in recent weeks. The key question: will this trend continue?
For those sending money home, timing is
Gulfnews
08/09/2025
Many Indian expatriates are adopting a "wait and watch" approach to sending money back home, even as the Indian rupee slipped to record lows against the UAE dirham. Some are waiting for the rupee to
Khaleej Times
03/09/2025
The US dollar clawed back some ground in Asian trading on Tuesday.
The dollar index was last up 0.2% at 97.873, having touched its lowest since July 28 on Monday. Gold hit an all-time high.
QNA
02/09/2025
The dollar hit a five-week low on Monday as investors looked ahead to a raft of US labor market data this week that could affect expectations for the Federal Reserve's easing path.
Traders w
Asharq Al Awsat
29/08/2025
Iran's rial currency fell to near-record lows Thursday as concerns grew in Tehran that European nations will start a process to reimpose United Nations sanctions on the Islamic Republic over its nucl
Asharq Al Awsat
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