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Large Cap3,958 0.85
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Small Cap5,129 0.41
Micro Cap8,650 0.61

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SECO 22.85 669,460

Forex News

Dollar dips in profit taking but many still bullish

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

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

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

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 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

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

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

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

Egypt and China sign currency swap deal

The Egyptian and Chinese central banks on Tuesday signed an 18-billion-yuan ($2.6-billion) currency swap agreement which would ease pressure on Cairo’s foreign reserves, Egypt’s central bank said. Under the deal, Egypt can use the yuan in transactions

Erdogan blames speculators for lira’s decline

Turkish President Recep Tayyip Erdogan has drawn parallels between Turkey’s battle against Daesh in Syria and efforts to shore up the lira, urging citizens to continue selling dollars and blaming speculators for the lira’s decline. Erdogan has called

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