| G7: German Fin Min: "Self-Understood" We Will Discuss Forex-2
"That's why this club was founded," Steinbrueck said in an interview with the Wall Street Journal, referring to the significance of foreign-exchange rates for the G7. But he declined to be specific at Friday's press conference held jointly with Deutsche Bundesbank President Axel Weber. "Every comment gains a politicial dimension that wasn't intended...," he said, adding that he was speaking from personal experience. Earlier this week, Steinbrueck insisted that the euro/yen exchange rates would be discussed at the G7 meetings. Following the press conference, Steinbrueck told reporters that the weak level of the yen isn't hurting German exports. Last month, the euro hit Y158.62, the highest level against the yen since the single currency was introduced in 1999. (MORE TO FOLLOW) Dow Jones Newswires February 09, 2007 10:50 ET (15:50 GMT) Copyright 2007 Dow Jones & Company, Inc.
THE RUPEE: dollar moves bothways
KARACHI (February 08 2007): The rupee was unable to retain its gains against the dollar in the interbank market on Wednesday as the US currency showed its muscles due to high demand by the corporate sector, losing three paisa for buying and selling at Rs 60.78 and Rs 60.80, dealers sad.
Different banks bought dollars to meet the payment demands. In the meantime the rupee is expected to recover its lost ground in the coming days, they said. In the world markets, the dollar showed divergent trend in relation to the other major currencies, they added.
OPEN MARKET RATES: The rupee gained five paisa against the dollar for buying and selling at Rs 60.70 and Rs 60.80, they said. Versus the euro, the rupee dropped by 25 paisa for buying and selling at Rs 78.55 and Rs 78.65, they said.
MG Financial adds Dow Jones FX market data stream to DealStation
(ASSODIGITALE.IT) Dow Jones & Company (NYSE: DJ) today announced an agreement with MG Financial Group, a leader in retail foreign exchange, to include streaming currency news from Dow Jones Newswires, the trusted source of real-time news and information for financial professionals, into MG's DealStation Forex trading platform. DealStation is designed for individual investors, providing them with a suite of tools, rates, data and charting for trading currencies. Now, DealStation customers can access real-time, streaming news from Dow Jones directly from their trading platforms. The custom package of Dow Jones news and information includes: DJ Market Talk - Forex commentary from around the globe Forex Roundups - U.S., Europe, Asia and Latin America Exclusive Dow Jones commentary and columns Forex View - Analysis of trading and trends Forex Focus - Outlook on U.S., European, and Asian currencies "Our customers' interests are always our top priorities," said Marla Miller, chief operating officer at MG Financial Group.
China to Manage Capital Flows to Cap Reserves Growth (Update1)
Jan. 21 (Bloomberg) -- China's currency regulator said it will ease rules for capital to flow out of the country this year while making it harder for funds to enter, in a move to cap increases in the world's largest foreign exchange reserves. Chinese companies and individuals will be allowed to convert more yuan into foreign currencies to buy overseas stocks and debt, while rules are tightened to limit short-term capital inflows, the government said. The central bank will mix monetary policies to soak up excess liquidity in the banking system and slow 2007 money supply growth to 16 percent, from last year's 16.9 percent. The moves are aimed at ``actively promoting the basic balance'' of China's balance of payments, said Hu Xiaolian, director of the State Administration of Foreign Exchange, in a statement today on the currency regulator's Web site.
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