Forex

Pakistan finance minister sees rupee strengthening vs U.S. dollar

Pakistan finance minister sees rupee strengthening vs U.S. dollar

By Syed Raza Hassan KARACHI, Pakistan, Oct 3 (Reuters) - Pakistan's newly appointed finance minister said on Monday that the country's currency will strengthen to under 200 rupees to the U.S. dollar. The rupee is currently at around 227 to the U.S. dollar, and the currency has been in turmoil, falling as much as 30% this year. "The rupee's real value is below 200 (to $1), and, God willing, it will come below 200 (rupees)," Minister Ishaq Dar said in an interview with local television channel Geo

Euro, yen FX swap rates hit more than two-year highs, flags U.S. dollar funding stress

Euro, yen FX swap rates hit more than two-year highs, flags U.S. dollar funding stress

By Gertrude Chavez-Dreyfuss NEW YORK, Oct 3 (Reuters) - The cost of raising short-term U.S. dollar funds in Japanese and European currency swaps markets surged to more than two-year highs on Monday, suggesting increased greenback demand as funding pressure grew due to volatile financial markets and global central bank tightening. The cross-currency basis swap, or relative premium for swapping euro and yen for dollars, has widened since last week due in part to year-end related demand for the U.S

Sterling climbs after tax plan reversal; dollar also weaker against yen, euro

Sterling climbs after tax plan reversal; dollar also weaker against yen, euro

By Caroline Valetkevitch and Alun John NEW YORK/LONDON, Oct 3 (Reuters) - Sterling jumped against the dollar on Monday after Britain reversed a plan to cut the highest rate of income tax, and the dollar was also down against the yen and euro. The pound GBP=D3 rose against the dollar after media reports of the u-turn to its highest level since Sept.

Bank of England reaffirms willingness to buy long-dated gilts

Bank of England reaffirms willingness to buy long-dated gilts

LONDON, Oct 3 (Reuters) - The Bank of England issued a statement on Monday in which it said it was reaffirming its willingness to buy up to 5 billion pounds ($5.65 billion) of long-dated gilts at each of its daily reverse auctions, subject to a reserve price. Earlier on Monday, the BoE accepted just 22.1 million pounds of offers at its reverse auction, out of 1.9 billion pounds of offers submitted.

Pakistan finance minister says rupee will strengthen to under 200 to the U.S. dollar

Pakistan finance minister says rupee will strengthen to under 200 to the U.S. dollar

KARACHI, Pakistan, Oct 3 (Reuters) - Pakistan's newly appointed finance minister said on Monday that the country's currency will strengthen to under 200 rupees to the U.S. dollar. The rupee is currently at around 227 to the U.S. dollar. "The rupee's real value is below 200 (to $1), and, god willing, it will come below 200 (rupees)," Minister Ishaq Dar said in an interview with local television channel Geo News.

UK's Kwarteng says he will publish new fiscal plans "shortly"

UK's Kwarteng says he will publish new fiscal plans "shortly"

BIRMINGHAM, England, Oct 3 (Reuters) - British finance minister Kwasi Kwarteng said on Monday he would publish details "shortly" on how he planned to bring down public debt as a share of economic output over the medium term, addressing concerns among investors over the cost of his recently announced tax cuts. "Today we face new challenges and in addressing those challenges, we will act in a fiscally sustainable and responsible way," Kwarteng said in a speech to the annual Conservative Party conf

South Africa to cut petrol, hike diesel prices from October 5 - govt

South Africa to cut petrol, hike diesel prices from October 5 - govt

JOHANNESBURG, Oct 3 (Reuters) - South Africa's government said on Monday that the petrol pump price would decrease by up to 1.02 rand a litre and the diesel price would rise by up to 15 cents a litre from October 5. South Africa's fuel prices are adjusted monthly due to factors including global oil prices and the rand exchange rate. The Ukraine war and its knock-on effects sent oil prices soaring earlier this year, driving South African fuel prices higher and sending inflation to a 13-year peak

South African rand firms against dollar; stocks edge up

South African rand firms against dollar; stocks edge up

(Updates prices to reflect afternoon trade) Oct 3 (Reuters) - South Africa's rand firmed on Monday as the U.S. dollar traded lower due to moderating interest rate hike expectations. At 1511 GMT, the rand ZAR=D3 traded at 17.8200 against the dollar, 1.41% stronger than its previous close. The dollar index =USD , which measures the currency against six rivals, was last down 0.597% at 111.560. Stocks on the Johannesburg Stock Exchange (JSE) closed slightly higher, mostly due to gains in the mining

South Africa to cut petrol, hike diesel prices from October 5 - govt

South Africa to cut petrol, hike diesel prices from October 5 - govt

JOHANNESBURG, Oct 3 (Reuters) - South Africa's government said on Monday that the petrol pump price would decrease by up to 1.02 rand a litre and the diesel price would rise by up to 15 cents a litre from October 5. South Africa's fuel prices are adjusted monthly due to factors including global oil prices and the rand exchange rate. Reporting by An

Brazil's real jumps 3.5% as Bolsonaro's strong showing spurs policy cheer

Brazil's real jumps 3.5% as Bolsonaro's strong showing spurs policy cheer

* Brazil's real set for best session since Oct 2018 * Colombia's peso jumps more than 1% as oil rallies By Susan Mathew Oct 3 (Reuters) - Brazil's real jumped 3.5% on Monday and stocks were on course for their best session since December as investors cheered far-right President Jair Bolsonaro's stronger-than-expected showing in the first round of a presidential election.

Jittery rouble falls vs dollar as sanctions fears erode domestic FX confidence

Jittery rouble falls vs dollar as sanctions fears erode domestic FX confidence

* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine By Alexander Marrow MOSCOW, Oct 3 (Reuters) - The Russian rouble pared early gains to weaken versus the dollar in volatile trade on Monday but leapt against the euro amid limited liquidity and as investors feared new sanctions may limit their ability to trade foreign currencies in Moscow.

Stocks, oil surge as Q4 kicks off

Stocks, oil surge as Q4 kicks off

(Updated to reflect U.S. market open) * U.S. stocks open higher after sell-off in September * Oil surges over 5% on reduced supply outlook * Graphic: Global asset performance Link * Graphic: World FX rates Link By Dhara Ranasinghe and Pete Schroeder LONDON/WASHINGTON, Oct 3 (Reuters) - The final quarter of the year got a boost Monday as U.S. stocks surged in early trading, shaking off a gloomier start in global markets while oil prices jumped over 5%.