ONE NEWS

Monday, February 01, 2010 KARACHI: Dollar climbed to a record level at over Rs85 in the Interbank here on Monday. According to forex market dealers, demand for dollar witnessed a substantial rise in Interbank market today, as banks purchased around 300 million dollars. This, at one stage, pushed the dollar price to Rs85.20. The economic experts said that the current account deficit saw a decline of 78 percent during July to December compared to the previous year.

Tuesday, November 17, 2009 BEIJING: The dollar will still be the world's dominant currency in 10 years' time because the United States will still be the world's most important economy, the head of the IMF said on Monday.However, Dominique Strauss-Kahn, the managing director of the International Monetary Fund, said he could not see 30 or 40 years into the future.Answering questions put by university students, Strauss-Kahn said the outlook for the global economy remained fragile.

Monday, September 28, 2009 WASHINGTON: World Bank President Robert Zoellick on Sunday warned that the United States should not "take for granted" the US dollar's role as pre-eminent global reserve currency."The United States would be mistaken to take for granted the dollar's place as the world's predominant reserve currency, Zoellick said, in excerpts of a speech to be delivered Monday."Looking forward, there will increasingly be other options to the dollar," Zoellick said in the address to be given at Washington's John's Hopkins University.His speech on Monday comes ahead of World Bank and International Monetary Fund annual meetings in Istanbul, Turkey early next month.Addressing the recent global economic crisis, he faulted the world's central banks for having "failed to address risks building in the new economy," although in the case of Washington's Federal Reserve Bank, he said, "it will be difficult to vest the in...

Wednesday, September 23, 2009 FRANKFURT: The euro traded close to one-year highs against the dollar Wednesday before the Group of 20 summit and a U.S. Federal Reserve decision on interest rates.The 16-nation euro bought $1.4794 in European morning trading, marginally higher than the $1.4792 it bought late Tuesday in New York. The euro had risen as high as $1.4840, a high for the past year, in spot trading over the past 24 hours.The British pound rose to $1.6366 from $1.6352. The dollar also sank against the Japanese currency, declining to 90.90 yen from 91.24 yen.Traders have been ditching the dollar for other currencies, with signals pointing to an economic recovery and the Group of 20 finance officials recently pledging to maintain government spending, low interest rates and increased money supply to shore up the global economy.Those moves should help boost economic activity and liquidity in financial markets, increasing investors' appetite for assets around the world at the exp...

Monday, September 14, 2009 KARACHI: Seventy-eight per cent of the amount withdrawn by foreign investors from January to May 2009 has been returned to Pakistan stock markets.As per statistics released by National Clearing Company, foreign investors withdrew an amount of $261 million in January-May 2009 while they brought back the amount of $203 million in June-September 2009 which is 78 per cent of the total amount withdrawn.After an improvement by world rating agencies – Modis International and Standard and Pores, confidence of foreign investors in stock markets is increasing and investment in Pakistan’s stock markets is being considered as the most attractive in Asian countries.

Saturday, September 12, 2009 KARACHI: The Karachi share market recorded an inflow of $28.559 million of foreign portfolio investment during the week ended on September 11, 2009. According to National Clearing Company of Pakistan Limited (NCCPL), the net inflow of foreign portfolio investment at the local equity market increased to $90.829 million during 11 days of the current month.An inflow of $94.635 million of this mode of investment was recorded in the preceding month. The offshore investors bought shares worth $51.0 million and sold shares worth $22.4 million, resulting in net buying of $28.6 million during the week.The week started with a positive trend and $2,026,896 of foreign portfolio investment was seen on Monday. An inflow of $9,650,737 was recorded on Tuesday, while $3,007,925 came on Wednesday. An inflow of $11,850,059 of this mode of investment was recorded on Thursday and $2,023,902 came on Friday.

Friday, September 11, 2009 LONDON: The dollar fell to the lowest levels for months against the euro and the yen on Friday as upbeat economic data reduced demand for the safe-haven greenback, dealers said.The euro rose to a near nine-month high of 1.4627 dollars in early London trading.The dollar dropped to 90.98 yen -- the lowest level since mid-February.In later London trade, the European single currency stood at 1.4591 dollars compared with 1.4583 dollars in New York late on Thursday.Against the Japanese currency, the dollar fell to 91.04 yen from 91.74 yen on Thursday.Gold headed back towards 1,000 dollars an ounce as the weak US unit made the metal cheaper for buyers holding rival currencies, pushing up demand, dealers said."The dollar continues to move lower setting a new low for the year against the euro... while the dollar has fallen more sharply against the yen," said Derek Halpenny, European head of global currency research at The Bank of Tokyo-Mitsubishi UFJ in Lond...