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Dollar under pressure as tensions rise over Syria

Source: Geo News | 28-08-2013

TOKYO: The yen maintained its gains against the dollar in Asia on Wednesday and emerging market currencies sagged as traders shunned

risk and fled to safety on rising tensions over Syria.

The dollar bought 97.03 yen in Tokyo midday trade, largely unchanged from 97.01 yen in New York Tuesday afternoon but sharply down from rates above 98.00 yen in Tokyo Tuesday.

The euro bought $1.3388 and 130.08 yen compared with $1.3391 and 129.88 yen.

Emerging Asia currencies were mostly lower. The Indian rupee, which hit a new record low of 67.22 to the dollar Tuesday, was trading at 66.19. The Indonesian rupiah fell to 11,306 from 10,925 and the Philippine peso was down at 44.57 pesos

Dollar rises amid speculation about US economy

Source: Geo News | 02-09-2013

TOKYO: The dollar rose against the yen on Monday as trading remained cautious amid speculation about the timing of an end to the massive US stimulus programme. The US decision to hold off from a military attack on Syria also helped risk appetite and led to selling of the safe-haven Japanese currency, traders said. The dollar gained to 98.60 yen in a..... Read more

WB threatens to stop funding for power sector

Source: The Nation | 25-03-2013

The World Bank (WB) might stop offering loan to the crumbling power sector of the country ostensibly due to its disagreement over the appointment of Chairman Wapda Syed Raghib Hussain Shah as Coordinator power sector, it is learnt on Sunday. Apparently perturbed over the appointment of Chairman Water and Power Development Authority (Wapda) as Coordinator ..... Read more

Will increase salaries next year: Finance Minister

Source: GEO News | 13-06-2013

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Ishaq Dar has said that austerity measures would save Rs40 billion. Addressing a post-budget press conference here on Thursday, the minister said that the government was going to tax Haj operators instead of pilgrims, adding that the government had put the country on the right path from day ..... Read more

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