GulfBase Live Support
09/04/2014 16:01 AST
NEW YORK: The euro fell against the dollar on Tuesday as the International Monetary Fund again urged the European Central Bank to take action to head off deflation.
IMF chief economist Olivier Blanchard said action was needed "soon", noting that the ECB was already reviewing its options.
"They are considering a number of measures (including) negative interest rates, quantitative easing, securitization programs of various sources," he told journalist at the launch of the IMF's World Economic Outlook report.
"I think they should all be looked at, and I know that the ECB is looking at them," he said. "And we hope that they will implement them as soon as they're technically ready to do so... Sooner is better than later."
That helped push the euro lower. At 2100 GMT it stood at $1.3797, compared to $1.3740 late Monday.
Meanwhile the yen picked up sharply against both the greenback and the euro, helped by comments from Bank of Japan governor Haruhiko Kuroda that no new stimulus is needed at this time, according to Kathy Lien of BK Asset Management.
"By eliminating any near term possibility of easing, the governor's comments sent the Nikkei and USD/JPY rate sharply lower," she said.
The dollar fell to 101.75 yen from 103.09 yen, and the euro dropped to 140.44 yen from 141.65.
Meanwhile, the British pound gained to $1.6749 from $1.6603, and the dollar slipped to 0.8832 Swiss franc from 0.8878 franc.
Business Recorder
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
US Dollar | 1.00 |
Saudi Riyal | 3.75 |
Derham Emirati | 3.67 |
Qatari Riyal | 3.65 |
Kuwaiti Dinar | 0.30 |
Bahraini Dinar | 0.38 |
Omani Riyal | 0.39 |
Euro | 0.81 |
British Pound | 0.71 |
Japanese Yen | 104.70 |
05/04/2018
Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said.
Oman’s g
Gulf News
02/04/2018
China’s yuan firmed against the dollar on Friday and is set to post its biggest quarterly gain in a decade, as the country attracts capital inflows and US trade frictions bolstered expectations of a
Gulf News
01/04/2018
The US dollar’s share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies’ shares of reserves grew, data rel
Gulf News
29/03/2018
The US Dollar Index, a measure of the value of the US dollar against a basket of currencies, teetered and dropped to quarterly lows in March, which also happen to be the lowest the index has been sin
The National
29/03/2018
Turkey’s lira weakened beyond the psychologically important level of 4.0 to the US dollar yesterday, bringing it close to a record low, as concerns about double-digit inflation, and politics, continu
Gulf Times