SHANGHAI: The yuan inched up against the U.S. dollar on Tuesday, buoyed by a firmer official midpoint, but volume was thin as traders awaited an expected U.S. rate hike later in the week which some believe will be echoed by China´s central bank.
With a March 21 move by the Fed seen in the bag, the focus has turned to whether it will signal a faster pace of rate rises this year and whether that will finally breathe life into the soggy dollar, curbing gains in emerging market currencies.
The People´s Bank of China raised rates on its open market operations and medium-term lending facility by 5 basis points each after the Fed last raised its policy rate by 25 bps in December.
Some market watchers expect a similar symbolic move from the PBOC on Thursday in Asian time after China´s leaders signalled in parliament that they will keep risk prevention at the top of their agenda this year.
Sheikh argued that the government should have maintained stable petroleum prices
MARI has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL
Gold rates decreased by $17 to $2,395 per ounce in the international market
Company's revenue saw a 13.9% year-on-year increase, reaching Rs49.2 billion, up from Rs43.19 billion in the same...
A man counts US dollars in a money exchange shop in Dhaka. — AFP/FileLAHORE: The first thing that the government...
Power generation stood at 8,741 gigawatt-hours or 11,749 megawatts in March
