The News Review:
- CORRECTION Forex – US dollar mixed Sydney morning on consolidation of…
- Kenya: Quiet Trading At Forex Amid Low Dollar Orders
- Daily Times – Leading News Resource of Pakistan
- Zimbabwe: A Call to Freedom
- FE kitty dips by $663 m
- Sri Lanka News | Sundayobserver.lk
CORRECTION Forex – US dollar mixed Sydney morning on consolidation of…
Forbes – May 4, 2008
dollar was trading mixed against major currencies late morning on Monday in a narrow range, consolidating last week’s gains in thin trade due to Japan’s financial markets being closed for a public holiday. At 10:45 am (0045 GMT) the dollar was at 105.
Kenya: Quiet Trading At Forex Amid Low Dollar Orders
AllAfrica.com – May 4, 2008
Early last week, the local unit had faced pressure from the US dollar as importers were rushing to buy US dollars to meet their end month payments. GA_googleFillSlot(”AllAfrica_Story_Inset”);Demand from the oil and manufacturing sector also saw the shilling yield some ground to the American unit. On Monday the local unit had opened at Sh62.
Daily Times – Leading News Resource of Pakistan
Daily Times – May 4, 2008
The rise in the value of the greenback comes despite the support the rupee has been getting from the State Bank of Pakistan since November last year when the central bank started supplying dollars to commercial banks for their customers’ oil import payments. When the State Bank had started this practice, many bankers had predicted that it would deplete the foreign exchange reserves very soon. Although the SBP managed to keep its forex reserves stable in last fiscal year, this year it failed to do that. It was mainly due to the sharp rise in international oil prices, which shot up to $70 per barrel in August this year. The euro closed at Rs 71. 82 for buying and Rs 71. 92 for selling, rising by Rs 1.
Zimbabwe: A Call to Freedom
AllAfrica.com – May 4, 2008
Instead of doing things the proper way, we resort to short cuts and cutting illegal deals. If the levels of deals and irresponsibility continue at the current rate in Zimbabwe, then this is a harbinger of worse things to come. Even Human rights groups are involved in illegal Forex deals yet continue to stand out as if they are moral bearers. One of the manifestations of oppression is seen in the way some former Deliverers tend to accumulate status symbols in the form of sleek cars in an attempt to mimic the former Oppressor. Some of them do so at the expense of the tax payers who are driven to hardships and despair. These victims of hardship and despair, whose human dignity is violated with impunity, become easy prey to the call to violence, and they can then become violators of peace. The final effect of oppression I would like to address in this article is lack of initiative.
FE kitty dips by $663 m
deccanherald.com – May 4, 2008
871 billion for the week ended April 25. In the week previous to it, forex reserves had risen by US$1. 167 billion to US$313. Foreign currency assets (FCAs), during the reporting week declined by US$660 million to US$302. 328 billion, against US$302.
Sri Lanka News | Sundayobserver.lk
Sunday Observer – May 4, 2008
The panel would be chaired by Ronnie Peiris, Group Finance Director,
John Keells Holdings and presentations would be made by W. ) Ltd on "Managing Forex Flows and Reserves".