Archive | forex

Sharia law says money cannot be regarded as a commodity

Can money be called a “commodity”? What do Islamic scholars say about this idea? Before we get to these questions, let us briefly go over some important points regarding how Islamic banks differ from conventional banks the whole focus of our ongoing discussion through this column over the past few weeks. An Islamic bank deploys […]

Continue Reading 0

Russian Central Bank wants to become a serious policy maker

MOSCOW, February 9. (By Marina Pustilnik RIA Novosti commentator). Last week the Central Bank of the Russian Federation announced that it began targeting the ruble exchange rate against a euro-dollar basket. The bank said in a statement it had begun targeting a dual currency basket – made up of 90 U.S. cents and 10 euro […]

Continue Reading 1

BoE’s King says EU, US, Asia must acknowledge forex interdependency

LONDON (AFP) – Bank of England governor Mervyn King said that Europe, the US and Asia must acknowledge their interdependency on the foreign exchange front, instead of blaming each other for large forex movements. Speaking at the Advancing Enterprise conference ahead of the G7 meeting, King said large countries “cannot ignore their interdependency” when it […]

Continue Reading 0

FOREX-Dollar rises, inspired by investment flows report

NEW YORK, Jan 18 (Reuters) – The dollar climbed on Tuesday after data showed investments coming into the United States were more than enough to cover the country’s huge trade deficit on a monthly basis. “The U.S. dollar has rallied strongly on the news and the data cools fears that these flows would not be […]

Continue Reading 0

BM&F’s Foreign Exchange reaches US$ 1 trillion

BM&F’s Foreign Exchange reached a financial volume of US$ 1 trillion since its inauguration, in April of 2002. During this period, the net volume was US$ 147.8 billion. The Foreign Exchange Clearinghouse made it possible to reduce in 85.2%, or US$ 852 billion, the effective transference of resources. During its two years and seven months […]

Continue Reading 0

Greenback loses favor in China

By Geoffrey York – Beijing — In Chinese street slang, they are known as the ”yellow bulls” — the underground traders who lurk outside the banks in aggressive pursuit of currency deals. But despite their business zeal, there is one commodity they are unwilling to buy on the street these days: U.S. dollars. “Everyone is […]

Continue Reading 0

White House wants an ardent free-trader

By Alan Guebert – Even before Ann Veneman quietly submitted her resignation as secretary of agriculture Nov. 12, the Washington grapevine hung heavy with a long list of likely replacements. Not that Veneman wanted to go; she didn’t. The first two questions at her initial, post-election news conference Nov. 9 dealt with her future at […]

Continue Reading 0

Follies of fiddling with the yuan

By Henry C K Liu – Dollar hegemony emerged after 1971 from the peculiar phenomenon of a fiat dollar not backed by gold or any other species of value, continuing to assume the status of the world’s main reserve currency because of the US’s geopolitical supremacy. Such currency hegemony has become a key dysfunctionality in […]

Continue Reading 1