| Banks, Diaspora applaud RBZ for lifting restrictions on forex ...
ZIMBABWEAN banks were yesterday busy making preparations to receive more foreign currency inflows from millions of Zimbabweans living abroad following the central banks decision to lift restrictions on foreign currency transfers into the country. RBZ Governor Gideon Gono announced the new policy shift in his eagerly-awaited monetary policy statement Wednesday throwing a major lifeline to many in the Diaspora who for a long time now were being short-changed or cheated of their hard-earned foreign currency by unscrupulous forex dealers. The move announced by Gono is meant to boost free funds inflows. Zimjournalists.com talked to a number of banks yesterday that were busy sending out information to their respective branches on the RBZs decision to lift its restrictions on foreign currency transfers.
Traders Receive an Account Bonus for Transferring to Global Forex ...
(openPR) - Global Forex Trading (GFT) announced today that it will offer traders up to $1,000 when they open a new GFT forex trading account by transferring funds from an equities, futures or forex brokerage. Traders who transfer funds to open a new GFT account before Feb. 28, 2007, can earn a bonus of $100 to $1,000, based upon the size of their account deposit and the number of trades they complete within three months of opening their account. This incentive is part of a global initiative launched by GFT to encourage traders participating in traditional markets to try the $2 trillion daily forex market using GFT's award-winning software, DealBook® 360. The rapidly growing forex industry and GFT's successful DealBook® 360 software has proven to be a powerful combination in the marketplace.
FOREX-Yen pulls back from 1-month high vs dollar
TOKYO, Feb 7 (Reuters) - The yen pulled back from a one-month high against the dollar on Wednesday as traders took a break from yen short covering to wait and see if the weekend meeting of the Group of Seven industrialised nations will discuss yen weakness. European officials have expressed concerns about the yen's weakness and have said the issue would be brought up at the G7 meeting in Essen, Germany, on Feb. 9-10, but U.S. and Japanese officials have continued to play down the issue. A senior official at Japan's Finance Ministry said on Wednesday that the yen could be discussed at the G7 but that it was unlikely to be the main subject of the talks. That followed U.S. Treasury Secretary Henry Paulson saying on Tuesday that the yen's value was set by market fundamentals, suggesting Washington does not have a problem with a weak yen.
Brazil Real Falls Amid Calls to Weaken Currency, Boost Growth
Feb. 9 (Bloomberg) -- Brazil's real fell as investors refrained from buying local assets following calls from the president's Worker' Party for the central bank to change monetary policy to weaken the currency and spur growth. ``It's not that anything radical will happen, but when you see the central bank president coming under pressure like this, it makes people nervous,'' said Paulo Fujisaki, foreign exchange analyst at Socopa Corretora in Sao Paulo. The real fell for a third day, dropping 0.7 percent to 2.1080 reais per dollar at 2:31 p.m. in New York, after most trading had ended in Brazil. The Brazilian currency on Feb. 6 touched 2.0745 reais per dollar, the strongest since May 11. It has gained 1.3 percent against the U.S. currency this year, making it the best performer of the 16 major currencies.
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