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Egypt offers rate relief to firms hit by pound float (Gulf Times - 29/12/2016)

Egyptian companies unable to repay US-dollar denominated debts after the devaluation of the pound will be allowed to negotiate fixed exchange rates with banks. The move aims to alleviate financial pressure on manufacturers following the central bank’s

Forces align for a stronger dollar in 2017 (Gulfnews - 29/12/2016)

Most likely, 2017 will be the year of the dollar. The greenback, which has been trading at the highest level in 14 years, may continue its bull run in 2017 on the back of hawkish tone from the US central bank amid loose fiscal policy from the new Trump

Dollar gains, sterling slides after Christmas (The Peninsula - 28/12/2016)

The dollar inched higher against the yen and a handful of other major currencies in holiday-thinned trade yesterday, with sterling by far the biggest faller as concerns over next year's Brexit negotiations continued to weigh heavily. Going into the final

Dollar gains against the yen (Arab News - 28/12/2016)

The dollar inched higher against the yen and a handful of other major currencies in holiday-thinned trade on Tuesday, with sterling by far the biggest faller as concerns over next year’s Brexit negotiations continued to weigh heavily. Going into the

Malaysia’s central bank takes action against firm over ringgit trade (Oman Daily Observer - 28/12/2016)

Bank Negara Malaysia said it was taking action against an unnamed financial institution for failing to promptly notify the central bank of its dealers’ misconduct involving the fixing of the dollar-ringgit exchange rate. The action comes amid efforts by

Dollar dips vs. yen after US yields pull away from highs (Arab News - 27/12/2016)

The dollar dipped against the yen on Monday, edging lower down after US Treasury yields dipped on mixed economic data. Trading was subdued with many key markets shut on Monday for the Christmas holidays. The greenback was down 0.2 percent at 117.300

China currency slide back on global markets radar (Gulf Times - 26/12/2016)

China’s weakening yuan is threatening a reprise of the storm that dominated world markets at the start of 2016, with Beijing’s ability to stamp on short-term speculators undermined by a broader consensus among major global investors that the currency

Iran rial hits fresh record low (Arab News - 26/12/2016)

Iran’s currency plumbed new lows against the dollar on Sunday, continuing a six-month decline that has seen the rial lose some 17 percent of its value despite the lifting of sanctions. The rial was trading at 41,300 to the dollar, down from 34,600 in

Strategists play rupee via Singapore dollar as economies diverge (Gulf Times - 25/12/2016)

Go long on the Indian rupee while shorting the Singapore dollar. That’s emerging as one of the favourite trades for 2017 as strategists make a play on the diverging outlook for the two Asian nations. Less reliance on exports and one of the world’s

Sri Lankan rupee ends firmer on dollar selling by state bank (Business Recorder - 24/12/2016)

The Sri Lankan rupee closed higher on Friday as dollar selling by a state-run bank helped the local currency gain in lacklustre trading ahead of a long weekend, amid little demand from importers for the US currency, dealers said. Rupee forwards were

Political risks leave euro-pound analysts most divided on record (Gulf Times - 22/12/2016)

r analysts trying to plot the course of the pound against the euro in 2017, the key decision is judging which side of the English Channel will see greater political turbulence. Strategists are trying to pinpoint whether the UK’s exit process from the

Dollar retreats from 14-year high (Arab News - 22/12/2016)

The dollar eased from 14-year highs on Wednesday, giving back some of the gains chalked up since Donald Trump’s US election victory, while concerns over banks pulled European shares lower. Wall Street also looked set to open lower, according to index

Yen eases as BoJ keeps policy steady, stocks mixed (Oman Daily Observer - 21/12/2016)

The Japanese yen edged down on Tuesday after the Bank of Japan(BoJ) held policy steady, shedding some gains made following deadly incidents in Germany and Turkey, while regional stocks were mixed after Federal Reserve Chair Janet Yellen’s upbeat

Dollar hits 14-year record peak (The Gulf Today - 21/12/2016)

The dollar hit a 14-year high on Tuesday as the yen fell after the Bank of Japan stuck to its ultra-loose monetary policy and the euro weakened following deadly attacks in Germany and Turkey. On Wall Street, the Dow appeared set for another run at

Russians return to Dubai hotels as rouble rebounds (The National - 20/12/2016)

Russian holidaymakers are returning to Dubai hotels as the rebounding rouble boosts their purchasing power. Travellers from Russia and the Commonwealth of Independent States (CIS) are making a comeback, Dubai hoteliers say. And this is helping to

Turkish lira volatility dulls allure of record yields for Amundi (Gulf Times - 19/12/2016)

Europe’s biggest fund manager says it’s still not time to buy Turkish bonds, even after the biggest selloff in emerging markets this quarter. While the yield on Turkey’s local-currency debt is “looking more attractive,” the swings in the lira reduce the

Forex volatility ‘to hurt overall outlook for Mideast non-financial co (Arab News - 19/12/2016)

Low economic growth, weak consumer and business confidence, and foreign exchange volatility will keep the overall outlook for Turkish, Middle Eastern and South African non-financial corporates in 2017 negative, says Moody’s Investors Service in a report.

Dollar dips in profit taking but many still bullish (Arab News - 18/12/2016)

The dollar retreated Friday in profit taking along with US stocks, but analysts said the prospects still looked good for gains in the greenback. The decline in US stocks was led by large banks and a handful of shares, such as Caterpillar, that had won

Egypt’s pound weakens to almost 19 per dollar as banks seek dollar flo (Business Recorder - 15/12/2016)

The Egyptian pound weakened on Wednesday as banks paid more to buy dollars from clients in an effort to attract dollar liquidity into the banking system, but volumes remain low. The dollar was being sold for almost 19 pounds per dollar on Wednesday,

C$ posts 8-week high ahead of Fed rate decision (Business Recorder - 15/12/2016)

The Canadian dollar strengthened to an eight-week high against its US counterpart on Wednesday as broader losses for the greenback ahead of a Federal Reserve interest rate decision eclipsed a dip in oil prices and mixed domestic data. The US dollar lost

China’s yuan weakens as corporate buy dollars (Business Recorder - 14/12/2016)

China's yuan weakened slightly against the dollar on Wednesday, as support from state-owned banks failed to counter pressure from corporate demand for dollars, traders said. "Dollar demand by companies was strong in the morning. Bank clients just stopped

Global remittance industry to hit $626.4b in 2017 (The Gulf Today - 13/12/2016)

The Foreign Exchange and Remittance Group (FERG), comprising businesses engaged in the money exchange and remittance industry, has held its 2016 Annual General Meeting at the Steigenberger Hotel in Dubai. The event revised the membership organisation’s

Speediest traders are becoming less welcome in currency markets (Gulf Times - 12/12/2016)

The most aggressive high-frequency currency traders are showing signs of losing steam, suggesting platforms have succeeded at thwarting some speedy strategies. Electronic specialists are making waves by eclipsing major banks in foreign-exchange trading.

Why the Canadian dollar can still fall to 1.42 (Khaleej Times - 12/12/2016)

The canadian dollar's rise after the Opec output cut in Vienna was modest relative to the $10 surge in Brent crude oil. Obviously, the foreign exchange market is sceptical about both the Opec pact and the intrinsic fundamentals of the Canadian dollar. US

Do more to boost lira, Erdogan urges Turks (Arab News - 11/12/2016)

President Recep Tayyip Erdogan has urged Turks to step up efforts to boost the Turkish lira by converting more foreign currency, as the campaign launched earlier this month showed only limited effect. Erdogan has spearheaded a national effort to boost

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