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28/12/2013 08:00 AST
The euro reached the strongest level since October 2011 against the dollar after European Central Bank Governing Council member Jens Weidmann said keeping interest rates low may endanger political reforms.
The 17-nation currency advanced versus most of its 16 major counterparts as Weidmann, president of the Germany’s Bundesbank, was cited by Bild newspaper as saying low inflation shouldn’t be used to justify loose monetary policy. The yen dropped to the weakest since October 2008 against the euro as Asian and European stocks advanced, reducing the haven appeal of the Japanese currency. Turkey’s lira slumped to a record amid concern a showdown between the government of Prime Minister Recep Tayyip Erdogan and the judiciary will worsen.
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Bloomberg
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 |
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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