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Pakistan considering plan to use yuan in trade with China

ISLAMABAD: Pakistan is considering a proposal to replace the U.S. dollar with the Chinese yuan for bilateral trade between Pakistan and China, the English-language daily newspaper Dawn reported on Tuesday. According to Reuters, bilateral trade between the countries totaled $13.8 billion in 2015 to 2016. Interior Minister Ahsan Iqbal, who has been central to the…

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Dollar rate soars to Rs 111 in interbank market

ISLAMABAD: The rate of dollar in the interbank market continued to rise as it soared to Rs 111, on Tuesday.  The value of rupee continues to fall in comparison to the dollar as the rate of the American currency climbed to Rs 111. As per economic experts, Pakistan’s debt has risen to Rs 236 billion…

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Dollar climbs to 110.50 in interbank market

KARACHI: The dollar rate crossed Rs.110.50 on Friday as it gained strength against rupee in the interbank market. Dollar climbed by five rupees today. It had closed at Rs.105.50 yesterday. In the open market, dollar is trading at Rs.109, according to According to experts, the dollar is going up due to Pakistan’s high debt…

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Dollar treads water vs. yen with eyes on North Korea, euro extends gains

TOKYO: The dollar was little changed against the yen on Tuesday, with the market wary of potential North Korean provocations, while the euro extended gains following upbeat German data and hawkish-sounding comments from a European Central Bank official, reported Reuters. The greenback was steady at 112.670 yen. It had popped up to a near three-month…

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Dollar, bond yields rise after Trump tax plan; Asia stocks down

TOKYO: The dollar and U.S. bond yields rose on Thursday after President Donald Trump proposed the biggest U.S. tax overhaul in three decades and as strong U.S. economic data added to the case for a rate hike by the Federal Reserve later this year, reported Reuters. The dollar’s strength pressured many emerging market currencies, helping…

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Dollar dips against yen on simmering North Korea tensions

TOKYO: The dollar buckled on Friday as tensions simmered on the Korean peninsula, though the sharp divergence between U.S. and Japanese monetary policy kept the greenback on track for a winning week against the yen, reported Reuters. The dollar index, which tracks the U.S. unit against a basket of six major rivals, fell 0.3 percent…

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Dollar struggles, Asia markets buoyed as US rate prospects recede

HONG KONG: The dollar eased again Thursday and major Asian markets gained after the Federal Reserve gave a tepid inflation outlook, fuelling speculation it will hold off on further US rate hikes this year. Regional traders tracked fresh Wall Street records on optimism about corporate earnings as a host of big names disclosed results Tokyo,…

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Dollar near 5-month low vs yen amid geopolitical risk

NEW YORK: The dollar fell broadly on Tuesday, nearly touching a five-month low against the Japanese yen, as geopolitical risk and declining U.S. Treasury yields pushed traders out of the greenback.

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Most Asia markets up but dollar hit by uncertainty

HONG KONG: Most Asian markets rose Tuesday following the previous day’s retreat, but the dollar was hit by fresh uncertainty over Donald Trump’s economic policy and contradictory views on future rate hikes by two top Federal Reserve officials. Global stocks started the week with a wobble after G20 finance chiefs failed to renew a longstanding…

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Dollar tumbles after Fed says rate hike pace seen gradual

NEW YORK: The dollar posted steep losses against major currencies on Wednesday after the Federal Reserve raised interest rates as expected but signaled a more gradual pace of monetary tightening this year than many in the market anticipated.

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Dollar down as US Treasury yields fall

NEW YORK: The dollar fell on Wednesday after two days of gains, pressured by the decline in U.S. Treasury yields as investors have priced out a March rate hike by the Federal Reserve amid uncertainty about President Donald Trump’s economic policies.

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Stocks near record high, dollar up on optimism, earnings

NEW YORK: A key index of global equity markets held near a record high on Thursday supported by mergers and acquisitions, strong corporate earnings and investor optimism spurred by U.S. President Donald Trump’s plans for public spending.

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Stocks, dollar rise; investors eye earnings

NEW YORK: Stocks rallied on Tuesday as investors looked past U.S. President Donald Trump’s protectionist rhetoric and focused on encouraging economic data and quarterly earnings reports.

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Oil slides 2 percent on strong dollar, doubts of OPEC output cuts

NEW YORK: Oil prices fell 2 percent on Tuesday to the lowest in nearly a month, extending the previous session’s sell-off as the U.S. dollar strengthened and doubts mounted over whether producing countries would implement of a deal to cut output.

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Dollar at 14-year peak vs. euro on Trump trade, yield allure

TOKYO: The dollar held the upper hand against its major rivals on Wednesday, sitting near a 14-year top against the euro, thanks to bets of higher U.S. growth and a faster pace of interest rate increases under incoming president Donald Trump.

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Oil, dollar and bond yields sharply higher after OPEC deal

TOKYO: Crude prices, the dollar and bond yields were sharply elevated early on Thursday after OPEC agreed to a deal to reduce output to clear a supply glut that has crunched oil prices and stoked global deflationary pressures.

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Asia stocks bounce as optimism over Clinton grows; dollar strong

HONGKONG: Asian stocks bounced and the dollar strengthened on Monday after the FBI said it stood by its earlier recommendation that no criminal charges were warranted against Democrat Hillary Clinton. The news lifted a cloud over Clinton’s presidential campaign two days before the U.S. election, and boosted S&P 500 Index futures by 1.2 percent, a…

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Dollar at nine-month high on bets for Fed hike, Clinton victory

LONDON: The dollar hit a nine-month high against a basket of currencies on Monday, buoyed by expectations that the Federal Reserve will raise U.S. interest rates this year and that Donald Trump will not become the U.S. president. After three straight weeks of gains, the dollar index – which tracks the greenback against a basket of…

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Dollar steps back from seven-month high

TOKYO: The dollar stepped back from seven-month high against an index of currencies on Wednesday after U.S. consumer prices showed underlying inflation moderated slightly, prompting markets to trim bets on a December Federal Reserve rate hike.

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Pakistan to start roadshows Thursday for dollar sukuk

Pakistan will start investor roadshows on Thursday for a potential sale of US dollar-denominated Islamic bonds, aiming to begin the pricing and book-building process next week, the Ministry of Finance said on Wednesday. If successful, the deal would mark Pakistan’s return to the international sukuk market after a two-year absence. It last raised $1 billion…

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Oil prices up in Asia as dollar weakens

SINGAPORE: Oil prices rallied in Asia on Wednesday on the back of a weaker dollar but scepticism that key producers will agree to limit output at an upcoming meeting kept gains in check. The dollar plunged after data Tuesday showed a shock slump in the key US services sector, virtually wiping out any possibility of…

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