Yen Set for Biggest Decline Since 1979 on Outlook for BOJ Policy

31/12/2013 07:19 AST

The yen is set for its biggest annual drop against the dollar since 1979 amid speculation the Bank of Japan will maintain unprecedented stimulus to support Prime Minister Shinzo Abe’s economic strategy.

The yen has fallen 16 percent in 2013 against a basket of nine other developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes, the biggest slide within the gauge. Hedge funds and other large speculators increased bets on a drop in the yen against the dollar to the most since July 2007. The euro was set for an annual gain versus most peers before data that may confirm manufacturing in the region grew at the fastest pace in more than two years.

For more on this Click Here


Bloomberg

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941

Exchange Rate against US Dollar

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

Recent News

Oman can defend its currency peg, central bank governor says

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

China’s yuan to post biggest quarterly rise against dollar in a decade

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

US dollar share of global currency reserves hits 4-year low — IMF

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

US dollar weighed down by trade and interest rate policies

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

Turkish lira weakens beyond 4 against dollar as economy worries weigh

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

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap