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Is the IMF a real aid for Pakistan?
The Pakistan government faces quite difficult task at the moment - to find about $5 billion in a 30 days with the aim to prevent default on current account payments.
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The troubles of Citic Pacific
Shares of Citic Pacific company decreased to its 10-year level last Tuesday after the company’s executive made wrong currency bets that might cause the lose of about $2 billions by the company.
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The exchange rates of the Iceland crown
Iceland currency is quite close to the dual exchange rate with the central bank that trades foreign currency to local banks at much lower price in comparison with international market rates. Last week the government of the country started to control the banking system of the country and has already put several restrictions on foreign exchange by carrying out everyday auctions intended to establish the value of country’s currency.
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Indonesia and controlled foreign exchange system
According to the announcement of the President Director of the Center for Bank Crises Ahmad Deni Daruri made on Tuesday the government of the country is still work with a free-flow foreign exchange system despite the fact it has already adopted a controlled foreign exchange regime.
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Karachi Stock Exchange remains range-bound
Karachi Stock Exchange: Because of protracted Eidul Fitr holidays trading activities at the Karachi stock market remained dull. Interestingly during these holidays the lowest turnover in the trading history of the market was made a formal record on account of prudent approach by the investors provoked by decreasing rupee value. This opinion was given by professional analysts.
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The fall of the Australian currency
Australian dollar decreased to its 1985 year level in relation to USD after the investors decreased holdings of high profitable assets due to the opinion that the global economy will experience recession.
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US Dollar Wait for Global Support
Nowadays there are a raising number of currency traders, marketers and strategists that are starting to think about dollar’s fate. Interestingly whether the finance ministers from the world's biggest economies will decide to support the US dollar.
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Rupee Suffers From Slow Inflows Most, Yuan Least, Morgan Stanley Outlines
On September 26 Financial site Bloomberg reported that because of risk aversion slowing capital inflows into appearing markets will hit India's rupee the most and China's yuan the least. This statement was made by Morgan Stanley.
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New contracts from ICE Futures US
ICE is an Intercontinental Exchange that is a global operator of futures exchanges and over-the-counter (OTC) markets. Today ICE made an announcement saying that ICE Futures US will start million-currency-unit versions of 12 current forex futures contracts in the November 2008. These new contracts are called ICE Millions. They include advantages of futures and OTC products as well and provide current forex market with transactional efficiencies and risk management methods.
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The impact of the world turmoil on Karachi Stock Exchange
According to the experts the dull trades appeared at the Karachi stock market were caused by the insufficient economic development and accompanied by the global financial markets turmoil that made investors’ activity to remain at low level. However there were several other factors that affected the market quite negatively. They are long lasting selling pressure that made rupee to fall to its new lows, not clear situation with the forex reserves and its impact on the debt ratings of the country.
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