Notable Residents – Ardud http://ardud.ro/ Tue, 22 Nov 2022 11:10:35 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://ardud.ro/wp-content/uploads/2021/05/default1-150x150.png Notable Residents – Ardud http://ardud.ro/ 32 32 USD/CAD Analysis Ahead of Canadian Retail Sales Data https://ardud.ro/usd-cad-analysis-ahead-of-canadian-retail-sales-data/ Tue, 22 Nov 2022 11:10:35 +0000 https://ardud.ro/usd-cad-analysis-ahead-of-canadian-retail-sales-data/ The USD/CAD the price retreated slightly on Tuesday as investors awaited the next few minutes from the FOMC and retail sales data from Canada. It moved back to a low of 1.3400, which was a few points below this week‘s high. Canadian Retail Sales Data The dollar at BODY the exchange rate fell slightly as […]]]>

The USD/CAD the price retreated slightly on Tuesday as investors awaited the next few minutes from the FOMC and retail sales data from Canada. It moved back to a low of 1.3400, which was a few points below this week‘s high.

Canadian Retail Sales Data

The dollar at BODY the exchange rate fell slightly as the market waited for the next Canadian retail sales data. Economists polled by Reuters expect Canada’s retail sales to fall from 0.7% in August to -0.5% in September.

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Core sales, which exclude volatile food and energy prices, are expected to have fallen 0.7% to -0.6%. Retail sales in Canada have come under intense pressure in recent months due to soaring inflation. The most recent data showed that the country’s inflation jumped to 6.9% in October.

The Canadian Statistics Agency will also release the latest wholesale sales figures. Economists expect data to show sales fell 0.1% to 0.4%. Another important number will be the latest manufacturer sales and the new home price index.

These figures will provide clues on the next actions of the Bank of Canada (BoC). The bank has made a series of rate hikes since last year.

The main forex news for the USD/CAD price will be the next FOMC minutes scheduled for Wednesday. These minutes will provide more information about the meeting. Most analysts expect the minutes to show that most officials favored higher interest rates for longer.

Prior to the minutes, several Fed officials will speak and provide more information on rates. Loretta Mester, Esther George and James Bullard will speak on Tuesday. In statements last week, George and Mester hinted that they would support lower rate hikes.

USD/CAD Forecast

USD/CAD 1024w" sizes="(max-width: 1024px) 100vw, 1024px" class="lazyload" data-sizes="auto" data-srcset="data:image/svg xml, 1024w?w=75&resize=75 75w, data:image/svg xml, 1024w?w=100&resize=100 100w, data:image/svg xml, 1024w?w=150&resize=150 150w, data:image/svg xml, 1024w?w=240&resize=240 240w, data:image/svg xml, 1024w?w=320&resize=320 320w, data:image/svg xml, 1024w?w=500&resize=500 500w, data:image/svg xml, 1024w?w=640&resize=640 640w, data:image/svg xml, 1024w?w=800&resize=800 800w, data:image/svg xml, 1024w?w=1024&resize=1024 1024w, data:image/svg xml, 1024w?w=1280&resize=1280 1280w, data:image/svg xml, 1024w?w=1600&resize=1600 1600w" data-src="https://invezz.com/wp-content/uploads/2022/11/usdcad-1024x467.jpeg" loading="lazy"/>
USD/CAD Chart by TradingView

The 4H chart shows that the USD/CAD price has been following a strong downtrend over the past few weeks. It broke through the important support level at 1.3500 earlier this month. This was an important level since it was the neckline of the head and shoulders pattern.

The pair formed a breakout and retest pattern returning to 1.3500. In price action analysis, this pattern is usually a continuation sign. Therefore, the pair is likely to continue lower as sellers target the next key support level at 1.3233.

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FOREX-Dollar Gains With Bond Yields Rising, Fed Focuses https://ardud.ro/forex-dollar-gains-with-bond-yields-rising-fed-focuses/ Fri, 18 Nov 2022 20:52:00 +0000 https://ardud.ro/forex-dollar-gains-with-bond-yields-rising-fed-focuses/ By Sinéad Carew and Amanda Cooper NEW YORK/LONDON, November 18 (Reuters) – The dollar gained slightly on Friday and remained on course for its biggest weekly gain in more than a month as investors watched rising bond yields and continued to bet on the upward trajectory of interest rates. the US Federal Reserve. The US […]]]>

By Sinéad Carew and Amanda Cooper

NEW YORK/LONDON, November 18 (Reuters)The dollar gained slightly on Friday and remained on course for its biggest weekly gain in more than a month as investors watched rising bond yields and continued to bet on the upward trajectory of interest rates. the US Federal Reserve.

The US currency gained momentum as the session progressed and was up against the euro and the yen, but was down slightly against the pound, which regained some lost ground after a volatile session on Thursday after the latest UK report. budget.

In the United States on Thursday, investors had reacted to hawkish comments from policymakers with the president of the St. Louis Fed James Bullard saying that even under “generous” monetary policy analysis, the Fed must continue raising rates because its tightening so far “has had only limited effects on observed inflation.”

euro EUR=EBS was down 0.34% against the dollar at $1.0329 after rising 0.29% earlier. The pound GBP=D3 pared its gains against the greenback and rose 0.22% for the last time after rising 0.70% earlier.

Both the euro and the pound had hit multi-month highs against the dollar earlier this week after inflation data showed easing price pressures in the United States.

Joseph Trevisani, senior analyst at FXStreet, pointed to hawkish remarks from Fed officials such as Bullard that “helped thwart speculation that the Fed was approaching a pause” in its inflation campaign, and opened the way to dollar gains with the United States. Treasury yields.

“A two-day recovery in US Treasury rates gave the dollar a slight improvement after last week’s steep inflation-driven decline,” Trevisani said.

Some analysts also suggested that investors might be positioning themselves for the end of the year after the dollar’s strong rally since the start of the year.

Kit Juckes, Societe Generale macro strategist, wrote that “it may well be that the process of reducing positions before the end of the year has begun in earnest”.

“2022 has been a near-perfect storm for the dollar, which has risen on stronger growth, higher rates, terms of trade and geopolitical concerns. Liquidity conditions are deteriorating and positions are reduced “, did he declare.

In international politics, a blast in Poland had created volatility in the market earlier in the week, but Ukrainian Prime Minister Denys Shmyhal said Friday that Russian missile strikes had crippled nearly half of Ukraine’s energy system as heavy fighting continued. rabies in the eastern and southern regions.

A high level diplomat said friday that Russia is open to higher-level talks with the United States, but the Kremlin has dismissed the idea of ​​a summit between President Vladimir Putin and US President Joe Biden as “out of the question” for the instant.

against the yen JPY=EBS, the dollar gained 0.8% to 140.32 yen. However, the dollar index .DXYwhich measures the greenback against a basket of major currencies, rose 0.19% to 106.90 after falling 0.33% earlier in the day.

The index recently rose about 0.58% since the start of the week, its biggest gain since early October and representing a partial recovery from last week’s 4% losses when inflation data in the States United States triggered the biggest weekly drop in the index since March 2020.

Treasury yields rose for a second straight day with the 10-year yield US10YT=RR last at 3.825% after hitting 3.827%.

Earlier this week, stronger-than-expected U.S. retail sales data also rattled speculation that interest rate hikes would ease.

The Australian dollar AUD=D3 was down 0.21% at $0.6672, below a two-month high reached earlier this week.

The New Zealand dollar USD=D3meanwhile, rose 0.28% and headed for its fifth straight weekly gain, ahead of next week’s central bank meeting, in which rates could rise by as much as 75 basis points. . RBNZWATCH.

================================================= =====

Currency bid price at 3:21 p.m. (2021 GMT)

The description

RIC

Last

Closing of the previous session

Percentage change

Percentage change since the beginning of the year

High bid

Low bid

euro dollar

EUR=EBS

$1.0329

$1.0365

-0.34%

-9.14%

+$1.0396

+$1.0322

dollar/yen

JPY=EBS

140.3200

140.1800

+0.08%

+21.86%

+140.4950

+139.6300

Euro/Yen

EURJPY=

144.93

145.29

-0.25%

+11.21%

+145.5500

+144.5600

Dollar/Swiss

CHF=EBS

0.9533

0.9523

+0.12%

+4.52%

+0.9547

+0.9501

British pound/dollar

GBP=D3

$1.1894

$1.1868

+0.22%

-12.05%

+$1.1950

+$1.1859

Canadian dollar

CAD=D3

1.3386

1.3328

+0.43%

+5.87%

+1.3409

+1.3300

Australian/Dollar

AUD=D3

$0.6672

$0.6690

-0.21%

-8.16%

+$0.6730

+$0.6662

Euro/Switzerland

EURCHF=

0.9847

0.9866

-0.19%

-5.05%

+0.9890

+0.9848

Euro/pound sterling

EURGBP=

0.8681

0.8736

-0.63%

+3.35%

+0.8741

+0.8682

New Zealand Dollar/Dollar

USD=D3

$0.6147

$0.6131

+0.28%

-10.18%

+$0.6206

+$0.6120

Dollar/Norway

NOK=D3

10.1900

10.1285

+0.65%

+15.72%

+10.2040

+10.0890

Euro/Norway

EURNOK=

10.5275

10.4901

+0.36%

+5.14%

+10.5438

+10.4685

Dollar/Sweden

SEK=

10.6288

10.6069

-0.16%

+17.86%

+10.6393

+10.5610

Euro/Sweden

EUREK=

10.9793

10.9969

-0.16%

+7.28%

+11.0115

+10.9664

World exchange rateshttps://tmsnrt.rs/2RBWI5E

(Reporting by Sinéad Carew and Chuck Mikolajczak in New York, Amanda Cooper in London and Tom Westbrook in Singapore; Editing by David Goodman and Matthew Lewis)

((Sinead.carew@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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EMERGING MARKETS – China Data, Fed Focus on Cautious Asia https://ardud.ro/emerging-markets-china-data-fed-focus-on-cautious-asia/ Tue, 15 Nov 2022 07:16:00 +0000 https://ardud.ro/emerging-markets-china-data-fed-focus-on-cautious-asia/ In contrast, the Malaysian ringgit MYR= and Singapore dollar CAD= made meager gains. Chinese stocks .SSEC hit a nearly two-month high and the yuan CNY=CFXS firmed 0.3% even though factory production data suggested the economy was in decline. Assets have rebounded in recent days after rising COVID-19 cases bogged them down earlier this month. Emerging […]]]>

In contrast, the Malaysian ringgit MYR= and Singapore dollar CAD= made meager gains.

Chinese stocks .SSEC hit a nearly two-month high and the yuan CNY=CFXS firmed 0.3% even though factory production data suggested the economy was in decline. Assets have rebounded in recent days after rising COVID-19 cases bogged them down earlier this month.

Emerging currencies rallied last Friday as the dollar lost ground after weaker US inflation data boosted expectations that the Fed could ease its pace of monetary policy tightening.

But some of those gains appear to be dissipating.

The green backed rose on Tuesday after Fed Vice Chairman Lael Brainard echoed comments from Fed Governor Christopher Waller over the weekend that rates needed to keep rising to fight inflation, albeit potentially at a slower pace.

“The market appeared to be dampening a bit after last week‘s CPI frenzy as FX flows were weaker and skewed towards taking profits from the dollar-strapped team,” said Stephen Innes, managing partner of SPI Asset Management, in a note.

In Southeast Asia, the central bank of the Philippines is set to deliver a huge 75 basis point (bps) rate hike, and Bank Indonesia (BI) is set to deliver a third consecutive 50 bps hike, according to Reuters polls.

Tuesday’s data also showed Indonesia’s trade surplus widened unexpectedly in October.

“The still thick trade balance confirms our view that Indonesia will not easily return to a negative current account balance. This should help BI not to be too hawkish,” said Fakhrul Fulvian, an economist at Trimegah Securities.

The Indian Rupee RNI=IN slightly lower after the country’s annual retail price inflation eased in October, prompting bets on lower interest rate hikes.

Actions in Malaysia .KLSE fell for the second day in a row and lost 0.6%, while Taiwanese stocks .TWII jumped for the third day and climbed more than 2.5%.

STRONG POINTS

** WRAPUP 2-G20 Summit opens in Bali with call for unity as war in Ukraine tops agenda

** FTSE Bursa Malaysia Kl index major losers include Hartalega Holdings HTHB.KL down 3.26%, Dialog Group DIAL.KL down 1.92%, Digi.Com DSOM.KL down 1.54%

**Singapore STI top winners include Mapletree Pan Asia Commercial Trust MACT.IF up 2.34%, Wilmar International WLIL.SI up 1.72%, Frasers Logistics & Commercial Trust FRAE.SI up 1.68%

Asian stock indices and currencies at 06:23 GMT

COUNTRY

FXRIC

DAILY FX %

FX YTD%

INDEX

DAILY STOCKS %

INVENTORY YTD %

Japan

JPY=

-0.38

-18.05

.N225

0.10

-2.78

China

CNY=CFXS

+0.28

-9.88

.SSEC

1h30

-14.18

India

RNI=IN

-0.20

-8.71

.NSEI

-0.17

5.44

Indonesia

RDI=

-0.33

-8.46

.JKSE

-0.02

6.63

Malaysia

MYR=

+0.16

-9.18

.KLSE

-0.62

-7.19

Philippines

PHP=

-0.19

-11.06

.PSI

0.55

-10.29

South Korea

KRW=KFTC

+0.55

-9.84

.KS11

0.08

-16.82

Singapore

CAD=

+0.02

-1.68

.STI

0.54

4.96

Taiwan

TWD=TP

+0.27

-10.77

.TWII

2.62

-20.16

Thailand

THB=TH

-0.06

-6.47

.SETI

0.25

-1.82

Graphic: world exchange rates https://tmsnrt.rs/2RBWI5E

Asian scholarshipshttps://tmsnrt.rs/2zpUAr4

(Reporting by Navya Mittal; Editing by Savio D’Souza)

((Navya.mittal@thomsonreuters.com))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Exchange rates in Pakistan – Dollar, Euro, British Pound and Riyal rates on November 12, 2022 https://ardud.ro/exchange-rates-in-pakistan-dollar-euro-british-pound-and-riyal-rates-on-november-12-2022/ Sat, 12 Nov 2022 04:25:01 +0000 https://ardud.ro/exchange-rates-in-pakistan-dollar-euro-british-pound-and-riyal-rates-on-november-12-2022/ Today’s exchange rates in Pakistan on November 12, 2022, current dollar rate in Pakistan, latest exchange rates for British Pound, Euro, Saudi Riyal, UAE Dirham, Canadian Dollar , Australian dollar to Pakistani rupees. All rates updated based on free market exchange rates. Today’s exchange rates in Pakistan according to international currencies as of November 12, […]]]>

Today’s exchange rates in Pakistan on November 12, 2022, current dollar rate in Pakistan, latest exchange rates for British Pound, Euro, Saudi Riyal, UAE Dirham, Canadian Dollar , Australian dollar to Pakistani rupees. All rates updated based on free market exchange rates.

Today’s exchange rates in Pakistan according to international currencies as of November 12, 2022. Latest prices for USD to PKR, EUR to PKR, GBP to PKR, AUD to PKR are given on this page. These currency prices are provided by open market currency brokers, and exchange rates in Pakistan are updated four times a day to keep them fresh and relevant for users.

Currency Purchase Sale
Australian Dollar (AUD) PKR142.90 PKR 144.15
Bahraini Dinar (BHD) PKR 589.52 PKR 594.02
British pound (GBP) PKR274.00 PKR276.70
Canadian dollar (CAD) PKR 164.77 PKR 166.12
Chinese Yuan (CNY) 30.61 PKR PKR 30.86
Danish Krone (DKK) PKR 29.91 30.26 PKR
Euro (EUR) PKR239.00 PKR241.40
Hong Kong dollar (HKD) 28.22 PKR PKR 28.57
Indian Rupee (INR) PKR 2.70 2.78 PKR
Japanese yen (JPY) PKR 1.50 PKR 1.55
Kuwaiti dinar (KWD) PKR 716.70 PKR 721.70
Malaysian Ringgit (MYR) PKR 46.65 PKR 47.10
New Zealand Dollar (NZD) 131.11 PKR PKR 132.31
Norwegian Krone (NOK) PKR21.60 PKR21.90
Omani Rial (OMR) PKR575.75 PKR580.25
Qatari Riyal (QAR) PKR 60.85 PKR 61.35
Saudi Riyal (SAR) PKR 62.50 PKR 63.10
Singapore dollar (SGD) PKR 158.51 PKR 159.09
Swedish Krona (SEK) 20.39 PKR PKR 20.69
Swiss franc (CHF) PKR 225.36 227.11 PKR
Thai Bhat (THB) 5.93 PKR 6.03 PKR
US dollar (USD) PKR225.50 PKR227.75
United Arab Emirates Dirham (AED) PKR 64.70 PKR 65.30

Rates are provided by local Forex market and local exchanges in Karachi, Lahore, Rawalpindi, Peshawar, Quetta, Faisalabad, Multan, Gujranwala, Sialkot and Islamabad.

Exchange rates are updated on this page four times a day, if you need more updates exchange rate in pakistan than visiting our company section.

You can also check the current gold rate in Pakistan, free market exchange rates, Interbank Exchange rate and Exchange Exchange rate

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Bearish reversal pattern in AUD/USD, as RBA gives dovish signals https://ardud.ro/bearish-reversal-pattern-in-aud-usd-as-rba-gives-dovish-signals/ Wed, 09 Nov 2022 15:11:51 +0000 https://ardud.ro/bearish-reversal-pattern-in-aud-usd-as-rba-gives-dovish-signals/ AUD/USD turned bearish in April and it broke below the moving averages on the daily chart, immediately turned into resistance and they did a great job of keeping the buyers in check, killing their hopes after every decent retracement to the upside. The 50 SMA (yellow) took its turn in September and it looks like […]]]>

AUD/USD turned bearish in April and it broke below the moving averages on the daily chart, immediately turned into resistance and they did a great job of keeping the buyers in check, killing their hopes after every decent retracement to the upside. The 50 SMA (yellow) took its turn in September and it looks like this moving average is doing it again, as price begins to reverse today after the bullish momentum that started last Friday.

AUD/USD Daily Chart – The 50 SMA again rejects the price

Stochastic indicator is overbought and reversing

Although yesterday the 50 SMA rejected the price and the daily candlestick closed in the doji, which is a bearish reversal signal after the bullish move. Today sentiment turned negative and equity markets opened lower after three strong days, so risky currencies such as the commodity dollars are also reversing lower. We opened a long-term forex sell signal earlier here below the 50 SMA, so we are bearish on this pair in the near future.

Remarks by RBA Deputy Governor Michelle Bullock

  • More rate hikes will be needed
  • We have already raised rates aggressively
  • Size and timing of rate hikes will depend on data
  • Inflation is too high, getting wider
  • Good reasons to think that we are approaching the peak of inflation this cycle

Well you have to walk the walk and not only talk the conversation. The RBA’s latest move here to simply raise the cash rate by 25 basis points is not very convincing and suggests that the central bank may be approaching the latter stages of its tightening cycle.

She mentions that the central bank could have a “scorched earth” interest rate policy to control inflation, but that would not be the best outcome. As for their next steps, she maintains that they have flexibility because they “would raise rates faster if we thought inflation was not coming down as expected.” Right.

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Thinking of studying abroad? Where will you get the money? Here’s how you can do it https://ardud.ro/thinking-of-studying-abroad-where-will-you-get-the-money-heres-how-you-can-do-it/ Sat, 05 Nov 2022 10:13:39 +0000 https://ardud.ro/thinking-of-studying-abroad-where-will-you-get-the-money-heres-how-you-can-do-it/ You have graduated and now want to study abroad to gain access to quality education and global skills. International exposure can also help you find better job opportunities by giving you a head start in the career market. However, when it comes to higher education, the biggest challenge is funding the course given the escalating […]]]>

You have graduated and now want to study abroad to gain access to quality education and global skills. International exposure can also help you find better job opportunities by giving you a head start in the career market. However, when it comes to higher education, the biggest challenge is funding the course given the escalating cost of education not only in India but across the globe. For example: A top university in the UK currently costs you around Rs 50,000,000 for a year, while an average university would cost you around Rs 15-24,000,000 per year. Additionally, studying abroad involves the element of exchange rates (forex) as a depreciating rupee may require students to shell out more money to complete their MBA. Besides fluctuations in exchange rates, it can also take some time to orient themselves on the value of their money in the destination country, as exchange rates can complicate international money transfers. For example, a single £50 note is almost equivalent to 4,400 rupees today.

With so many complexities involved, it is very important that your finances are properly planned so that you do not miss the chance of getting a quality higher education at a coveted institute. To help guide you through the maze, here are some of the options offered by Ankit Mehra, CEO and co-founder of GyanDhan to fund your education abroad:

Scholarships: Scholarships are the easiest way to finance your studies, reducing the financial burden on the student. With no obligation to return the money, the scholarships cover a range of expenses that make pursuing a course affordable for students from different sections of society. Indian and international universities offer different types of scholarships: need-based, merit-based, and achievement-based scholarships in extracurricular activities.

Loan bursaries: Some organizations offer loan scholarships in which the scholarship amount is provided as a loan that the student must repay. The interest rate is the lowest compared to student loans. However, the loan scholarship amount is not expensive and offers limited financial support.

Loans for studies: Student loans cover the full cost of education in most cases. Lenders, such as public banks, private banks, non-bank financial companies (NBFCs), and international lenders, offer various loan products for education abroad. The loan amount may vary depending on the institute and the collateral pledged by the borrower. Apart from the lenders mentioned above, a few overseas universities, like Harvard University, also offer student loans to their incoming students if they are unable to meet the cost of education.

Personal fund: Students are generally discouraged from using their parents’ personal funds, provident funds, or retirement funds. These funds can be put to better use if invested in higher yielding schemes. However, students often rely on their personal funds to finance part of their education costs in order to reduce their reliance on student loans.

Summer internships: Full-time students barely have time to opt for part-time jobs on and off campus. However, depending on the skills and the target company, students can earn a lot during their summer and winter internships. Supplementary income helps cover some degree costs.

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Main objective of the Fed’s decision for the Forex market https://ardud.ro/main-objective-of-the-feds-decision-for-the-forex-market/ Wed, 02 Nov 2022 11:55:50 +0000 https://ardud.ro/main-objective-of-the-feds-decision-for-the-forex-market/ Interest rate decision to watch closely The euro gains on a weaker dollar Stock futures move slightly higher The Change market is set to move today, but not before the big decision of the day is closely watched by traders and analysts. This is the Federal Reserve’s interest rate decision. The general expectation of Jerome […]]]>
  • Interest rate decision to watch closely
  • The euro gains on a weaker dollar
  • Stock futures move slightly higher

The Change market is set to move today, but not before the big decision of the day is closely watched by traders and analysts. This is the Federal Reserve’s interest rate decision. The general expectation of Jerome Powell and his policymakers is that rates will once again rise substantially. This sent the dollar into a consolidation phase which benefited the euro. At the same time, trading on Wall Street remains calm ahead of the decision.

Market watch before rate decision

Interest rates and their variations have always played a role in the market and for those currency trading any currency in the world. However, this influence has been greatly amplified in recent months, as the Fed is unleashed to reduce the inflationary pressures of the moment. Jerome Powell and his team of policymakers have come under increasing scrutiny almost since the economy began to get back to work after the pandemic. At the time, inflation was considered transitory. It was not the case.

All eyes then turned to today’s announcement from Powell following their two-day policy meeting. The general expectation is that rates will rise another 75 basis points. Anything other than that would have a big impact on both the dollar and the market in general. The overall state of the economy is also under the microscope with job openings in September and the October manufacturing PMI rising to 50.2.

The euro seizes the opportunity to reach parity

While forex brokers and traders are battling inflation in the US and rising rates, the reality in the EU is not that far off. Although it lost ground on Wednesday following comments from German Bundesbank President Joachim Nagel that the bloc still had a long way to go with rate hikes, the currency has regained the upper hand.

After having been considerably lower, the euro, in the absence of many buyers of US dollars, is once again approaching the point of parity with the greenback. This is where the common currency has tended to retreat. There is a widespread belief however that with the US focused on the outcome of the Fed rate hike, the Euro could fly a march above parity.

Stock trading remains cautious

With a largely positive week already in sight, there was little action in the early hours on Wall Street, if not overnight. This slowdown in trade frequently occurs ahead of important economic news like the rate hike announcement later in the day.

In the early morning, the Dow Jones remained relatively unchanged, falling about 0.1%. Meanwhile, the S&P500 remained in the same position it closed yesterday, while the tech-heavy Nasdaq improved 0.1%. More movement will be certain once the rate change is announced.

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Exchange rates in Pakistan – Dollar, Euro, British Pound and Riyal rates as of October 30, 2022 https://ardud.ro/exchange-rates-in-pakistan-dollar-euro-british-pound-and-riyal-rates-as-of-october-30-2022/ Sun, 30 Oct 2022 04:25:01 +0000 https://ardud.ro/exchange-rates-in-pakistan-dollar-euro-british-pound-and-riyal-rates-as-of-october-30-2022/ Today’s exchange rates in Pakistan on October 30, 2022, current dollar rate in Pakistan, latest exchange rates for British Pound, Euro, Saudi Riyal, UAE Dirham, Canadian Dollar , Australian dollar to Pakistani rupees. All rates updated based on free market exchange rates. Today’s exchange rates in Pakistan according to international currencies as of October 30, […]]]>

Today’s exchange rates in Pakistan on October 30, 2022, current dollar rate in Pakistan, latest exchange rates for British Pound, Euro, Saudi Riyal, UAE Dirham, Canadian Dollar , Australian dollar to Pakistani rupees. All rates updated based on free market exchange rates.

Today’s exchange rates in Pakistan according to international currencies as of October 30, 2022. Latest prices for USD to PKR, EUR to PKR, GBP to PKR, AUD to PKR are given on this page. These currency prices are provided by open market currency brokers, and the exchange rates in Pakistan are updated four times a day to keep them fresh and relevant for users.

Currency Purchase Sale
Australian Dollar (AUD) PKR 143.04 PKR 144.29
Bahraini Dinar (BHD) PKR587.45 PKR591.95
British pound (GBP) PKR260.00 PKR262.50
Canadian dollar (CAD) PKR 163.19 PKR 164.54
Chinese Yuan (CNY) PKR 30.56 PKR 30.81
Danish Krone (DKK) PKR 29.64 PKR29.99
Euro (EUR) PKR224.50 PKR226.60
Hong Kong dollar (HKD) 28.14 PKR PKR 28.49
Indian Rupee (INR) 2.68 PKR 2.76 PKR
Japanese yen (JPY) 1.15 PKR 1.21 PKR
Kuwaiti dinar (KWD) PKR 712.92 PKR 717.92
Malaysian Ringgit (MYR) PKR 46.85 PKR 47.30
New Zealand Dollar (NZD) PKR 129.08 PKR 130.28
Norwegian Krone (NOK) PKR 21.55 PKR 21.85
Omani Rial (OMR) PKR557.64 PKR 578.14
Qatari Riyal (QAR) PKR 60.68 61.18 PKR
Saudi Riyal (SAR) PKR59.80 PKR 60.40
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Egyptian currency slides as IMF deal triggers new exchange rate regime https://ardud.ro/egyptian-currency-slides-as-imf-deal-triggers-new-exchange-rate-regime/ Thu, 27 Oct 2022 11:53:00 +0000 https://ardud.ro/egyptian-currency-slides-as-imf-deal-triggers-new-exchange-rate-regime/ Central bank raises rates to contain inflation IMF says deal can catalyze about $5 billion in fiscal year 2022/33 Funding rules that hampered the phasing out of imports CAIRO, Oct 27 (Reuters) – The Egyptian pound fell 13.5% to a record low against the dollar on Thursday as authorities announced a $3 billion deal with […]]]>
  • Central bank raises rates to contain inflation
  • IMF says deal can catalyze about $5 billion in fiscal year 2022/33
  • Funding rules that hampered the phasing out of imports

CAIRO, Oct 27 (Reuters) – The Egyptian pound fell 13.5% to a record low against the dollar on Thursday as authorities announced a $3 billion deal with the International Monetary Fund with a commitment in favor of a “sustainably flexible exchange rate regime”.

The central bank also hiked interest rates by 200 basis points in an off-cycle meeting, saying it aimed to anchor inflation expectations and contain demand-side pressures.

Egypt had been in talks with the IMF for a new loan since March after its economic difficulties worsened due to the war in Ukraine. The fund has long urged Egypt to allow greater exchange rate flexibility.

In a statement confirming an expanded financing facility of $3 billion over 46 months, the IMF said a flexible exchange rate regime should be “a fundamental policy to rebuild and safeguard Egypt’s long-term external resilience”. term”.

He said the deal was expected to catalyze a major multi-year funding package, including around $5 billion in the fiscal year ending June 2023, reflecting “broad international and regional support for Egypt.”

Egypt’s central bank said it intends to step up economic reforms and has “moved to a sustainably flexible exchange rate regime, letting the forces of supply and demand determine the value of the EGP against other foreign currencies”.

The pound quickly weakened to around 22.75 from 19.67 to the dollar, according to Refinitiv data.

The bank had already let the pound depreciate 14% against the dollar in March, and the currency had fallen more gradually in recent weeks. Former central bank governor Tarek Amer, under whom the pound had long been held stable, was abruptly replaced in August.

Most Egyptian bonds were raised to 2 cents to the dollar on Thursday. , , This left them at their highest level in about a month and up about 10% in price from the lows reached at the start of the month.

IMPACT OF THE WAR IN UKRAINE

The war in Ukraine has pushed up Egypt’s wheat and oil bills while dealing a blow to tourism from two of its biggest markets, Ukraine and Russia, a key source of hard currency.

In its statement on Thursday, the central bank said the conflict had “disastrous economic ramifications” and consequently led Egypt to face large capital outflows.

Annual headline inflation accelerated to 15% in September, its highest level in nearly four years, according to official data.

The central bank said it would continue to announce inflation targets “along the pre-determined disinflation path that began in 2017.” The bank’s current target is 5-9%.

The 200 basis point rate hike takes the overnight lending rate to 14.25% and the overnight deposit rate to 13.25%.

The central bank also said it would phase out a rule by December that mandated the use of letters of credit for import financing.

The rule, an effort to preserve scarce dollars, had caused a major slowdown in imports of everything from consumer goods to industrial components, and left some basic goods stranded in ports.

In order to deepen the foreign exchange market and improve its liquidity, the central bank said it would work to build the foundations of a derivatives market.

Reporting by Nadine Awadalla in Dubai, Aidan Lewis, Mahmoud Salama, Mahmoud Mourad, Enas Alashray in Cairo and Marc Jones in London; written by Aidan Lewis, editing by Jason Neely, Alex Richardson and Nick Macfie

Our standards: The Thomson Reuters Trust Principles.

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Japan stepped in, buying yen in the forex market on Friday https://ardud.ro/japan-stepped-in-buying-yen-in-the-forex-market-on-friday/ Sat, 22 Oct 2022 09:33:00 +0000 https://ardud.ro/japan-stepped-in-buying-yen-in-the-forex-market-on-friday/ TOKYO, Oct 22 (Reuters) – Japan intervened in the foreign exchange market on Friday to buy the yen for the second time in a month after the currency hit a 32-year low of nearly 152 to the dollar, said a government official and another person familiar with the matter told Reuters. Japan has tried to […]]]>

TOKYO, Oct 22 (Reuters) – Japan intervened in the foreign exchange market on Friday to buy the yen for the second time in a month after the currency hit a 32-year low of nearly 152 to the dollar, said a government official and another person familiar with the matter told Reuters.

Japan has tried to shore up the battered currency as the central bank sticks to ultra-low interest rates, bucking a global trend of monetary policy tightening and widening the gap between U.S. interest rates and Japanese.

After the dollar hit 151.94 yen, its highest since 1990, the intervention sent the Japanese currency down over 7 yen to a low of 144.50 yen. The US currency was last down 1.8% at 147.34 yen.

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The Ministry of Finance (MOF) intervened in several stages from around 9:35 p.m. (12:35 GMT), a source said.

“We maintain our position of being ready to take appropriate action against excessive forex volatility,” Prime Minister Fumio Kishida told reporters on Saturday after meeting Australian Anthony Albanese, reiterating that such volatility cannot be tolerated.

Kishida declined to comment further, saying, “I won’t comment in detail on forex” when asked about Friday’s intervention.

Japan’s top monetary diplomat, Masato Kanda, also declined to say whether the finance ministry had intervened.

“We will not comment now on whether or not we carried out an intervention,” Kanda, deputy finance minister for international affairs, told Reuters on Saturday, saying it was a position the finance ministry had stood by. over the past few weeks.

He added that the ministry would not confirm whether an intervention took place for some time, flagging a possible “stealth intervention” to engage in a war of nerves against investors selling yen.

The MOF also bought yen on Sept. 22 as investors focused on the growing divergence between the BOJ’s ultra-loose monetary policy and the US Federal Reserve’s aggressive rate hikes.

Finance Minister Shunichi Suzuki and Kanda have repeatedly signaled the government’s willingness to intervene, warning against excessive volatility. Suzuki said before the intervention on Friday that authorities were prepared to act “strictly” against speculators.

Many market participants doubt that Tokyo can reverse the yen’s bearish trend with solo intervention, even with Japan’s $1.33 trillion in foreign exchange reserves.

Industrial powers in the Group of Seven agreed this month to closely monitor recent volatility, but did not indicate they were ready for a joint intervention.

Japan bought a record 3.6 trillion yen ($24 billion) in September action, Tokyo money market brokerage firms estimated.

($1 = 147.6400 yen)

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Reporting by Shinji Kitamura, Yoshifumi Takemoto, Tetsushi Kajimoto, Kiyoshi Takenaka and Kentaro Sugiyama; Written by Sakura Murakami and Leika Kihara; Editing by William Mallard

Our standards: The Thomson Reuters Trust Principles.

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