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- Saudi Arabian Shares Drop Most in 10 Months After Oil Tumbles
- Sipchem inks $373m loan deal for key project
- Yen Gains on Slowing U.S. Growth Amid Europe Crisis Safety Bets
- Canada Dollar Drops for Fifth Week as Jobs Data Adds to Gloom
- Ringgit seen remaining weak
- Gulf Bank's Alsamerai named 'HR Professional of the Year'
- Middle East Media wins 6-year exclusive advertising contract
- PDO extends Galfar contract
- OIB-HSBC Oman merger 'almost complete'
- Bahrain, India sign tax dealto boost ties
23/04/2012 23:31 AST
The euro retreated from two-week highs against the dollar on Monday, pausing after its best weekly performance since February and drawing limited support from the weekend decision to double the International Monetary Fund's warchest.
Worries about upcoming debt auctions in Italy and the Netherlands and concerns about a political backlash against austerity measures could keep the single currency in check, traders said.
The Australian dollar slid after local producer price data cemented expectations of a rate cut by the Reserve Bank of Australia next week while sterling clung to its newfound market-darling status in the wake of upbeat UK retail sales data.
"The increase in the IMF is just a safety net. That alone is not enough to boost risk assets," said Koji Fukaya, chief currency strategist at Credit Suisse in Tokyo.
The single currency stood at $1.3189, down from Friday's peak of $1.3225 after a near 1 percent rally last week, its best since late February.
Advanced and emerging countries agreed to double the firepower of the IMF to help contain Europe's debt crisis.
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Reuters
| US Dollar | 1.00 |
| Euro | 0.88 |
| British Pound | 0.77 |
| Japanese Yen | 113.21 |
| Saudi Riyal | 3.75 |
| Kuwaiti Dinar | 0.30 |
| Derham Emirati | 3.67 |
| Bahraini Dinar | 0.38 |
| Omani Riyal | 0.39 |
| Qatari Riyal | 3.67 |
05/04/2018
Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said.
Oman's g
Gulf News
02/04/2018
China's yuan firmed against the dollar on Friday and is set to post its biggest quarterly gain in a decade, as the country attracts capital inflows and US trade frictions bolstered expectations of a
Gulf News
01/04/2018
The US dollar's share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies' shares of reserves grew, data rel
Gulf News
29/03/2018
The US Dollar Index, a measure of the value of the US dollar against a basket of currencies, teetered and dropped to quarterly lows in March, which also happen to be the lowest the index has been sin
The National
29/03/2018
Turkey's lira weakened beyond the psychologically important level of 4.0 to the US dollar yesterday, bringing it close to a record low, as concerns about double-digit inflation, and politics, continu
Gulf Times
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