The euro headed for the biggest weekly drop against the yen in seven months as Spain’s rising borrowing costs fueled concern that the region is failing to contain its debt crisis.
The 17-nation currency traded 0.3 percent from a three-week low versus the dollar before data next week that may show German exports fell and growth in French industrial production slowed, adding to evidence that the fiscal woes are hampering the region’s economies. Demand for the greenback was supported as data indicating a recovery in the U.S. labor market damped speculation the Federal Reserve will add new stimulus. The yen gained against its peers as Asian stocks fell for a third day.
NOGA delegation holds meetings in China
A delegation representing the oil, gas and petrochemicals sectors in the kingdom visited China last week, and held meetings with senior officials in China National Energy Administration (NEA), and th
India's forex grows by $2.17b
According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, gained $2.40 billion at $292.36 billion in the week under review.