Monday, 11 June 2012

Interbank Foreign Exchange Rates


                           Latest       Previous   %Chg    Daily    Daily   %Chg 
Dollar Rates                               Close            High      Low  12/31 
 
 
USD/JPY Japan            79.49-52       79.43-46  +0.08    79.60    79.18  +3.37 
EUR/USD Euro            1.2494-96      1.2481-83  +0.10   1.2507   1.2452  -3.59 
GBP/USD U.K.            1.5487-92      1.5484-89  +0.02   1.5500   1.5464  -0.34 
USD/CHF Switzerland     0.9612-14      0.9620-24  -0.09   0.9644   0.9604  +2.57 
USD/CAD Canada         1.0297-302      1.0313-18  -0.16   1.0324   1.0296  +0.88 
AUD/USD Australia      0.9898-902      0.9862-66  +0.36   0.9914   0.9852  -3.02 
NZD/USD New Zealand     0.7720-26      0.7688-93  +0.43   0.7726   0.7672  -0.68 
 
Euro Rates 
 
EUR/JPY Japan            99.30-34       99.14-19  +0.16    99.54    98.74  -0.24 
EUR/GBP U.K.            0.8065-68      0.8059-62  +0.07   0.8069   0.8053  -4.61 
EUR/CHF Switzerland     1.2008-12      1.2008-12   0.00   1.2012   1.2010  -1.33 
EUR/CAD Canada          1.2867-74      1.2871-79  -0.04   1.2881   1.2856  -2.73 
EUR/AUD Australia       1.2618-24      1.2649-58  -0.26   1.2653   1.2614  -0.59 
EUR/DKK Denmark         7.4307-44      7.4310-49  -0.01   7.4361   7.4262  -0.04 
EUR/NOK Norway         7.5274-310     7.5439-506  -0.24   7.5489   7.5262  -2.79 
EUR/SEK Sweden         8.8577-648    8.8933-9003  -0.40   8.8982   8.8494  -0.62 
EUR/CZK Czech Rep.      25.609-40     25.584-643  +0.04   25.646   25.592  +0.11 
EUR/HUF Hungary         297.34-86      297.30-97  -0.01   297.68   297.14  -5.55 
EUR/PLN Poland          4.3402-52     4.3470-543  -0.18   4.3558   4.3358  -2.79 
 
Yen Rates 
 
AUD/JPY Australia        78.69-74       78.33-42  +0.43    78.90    78.10  +0.63 
GBP/JPY U.K.            123.11-19      122.98-03  +0.10   123.36   122.59  +3.02 
CAD/JPY Canada           77.16-23       76.98-07  +0.23    77.27    76.77  +2.47 
NZD/JPY New Zealand      61.37-44       61.06-13  +0.51    61.49    60.82  +2.66 
 
Other Dollar Rates 
 
USD/CZK Czech Rep.     20.495-520     20.497-543  -0.06   20.566   20.494  +3.83 
USD/HUF Hungary       237.98-8.38      238.19-70  -0.11   238.85   238.10  -2.04 
USD/DKK Denmark         5.9472-98      5.9537-59  -0.11   5.9692   5.9434  +3.68 
USD/NOK Norway          6.0247-72      6.0440-86  -0.34   6.0511   6.0210  +0.83 
USD/PLZ Poland          3.4738-76      3.4827-82  -0.28   3.4943   3.4718  +0.83 
USD/RUB Russia          32.739-90     32.677-743  +0.17   32.896   32.624  +1.91 
USD/SEK Sweden         7.0894-946      7.1252-98  -0.50   7.1333   7.0810  +3.08 
USD/ZAR S. Africa      8.4208-330     8.4641-758  -0.51   8.4728   8.4200  +4.20 
 
USD/CNY China           6.3715-36      6.3623-44  +0.14   6.3775   6.3732  +0.85 
USD/HKD Hong Kong       7.7587-94      7.7601-09  -0.02   7.7603   7.7586  -0.10 
USD/MYR Malaysia        3.1801-66     3.1663-728  +0.44   3.1847   3.1726  +0.19 
USD/INR India        55.995-6.005     55.610-700  +0.62   56.050   55.673  +5.61 
USD/IDR Indonesia         9421-81         9405-5  +0.49     9421     9430  +4.63 
USD/PHP Philippines  42.851-3.092   42.919-3.020  +0.00   42.879   43.080  -2.00 
USD/SGD Singapore       1.2835-38      1.2860-67  -0.21   1.2868   1.2822  -0.99 
USD/KRW S. Korea    1169.19-71.60   1170.39-2.80  -0.10  1173.39  1168.30  +0.84 
USD/TWD Taiwan          29.919-80     29.899-960  +0.07   29.949   29.950  -1.04 
USD/THB Thailand        31.633-96      31.628-88  +0.02   31.699   31.626  +0.21 
USD/VND Vietnam        20822-1473     20945-1015  +0.80    20822    21473  +0.52 
 
USD/BRR Brazil          2.0567-98      2.0607-72  -0.28   2.0637   2.0588 +10.32 
USD/MXN Mexico        14.0696-842    14.0891-979  -0.12  14.1151  14.0578  +0.94 
USD/ARS Argentina       4.4817-90     4.4859-932  -0.09   4.4897   4.4886  +4.10 
 
Source: ICAP Plc. 
 

2012.06.11 18:50:16 Interbank Foreign Exchange Rates At 14:50 EST / 1850 GMT


                           Latest       Previous   %Chg    Daily    Daily   %Chg 
Dollar Rates                               Close            High      Low  12/31 
 
 
USD/JPY Japan            79.40-44       79.60-65  -0.26    79.72    79.36  +3.26 
EUR/USD Euro            1.2493-96      1.2638-42  -1.15   1.2668   1.2484  -3.59 
GBP/USD U.K.            1.5494-96      1.5509-15  -0.11   1.5581   1.5492  -0.30 
USD/CHF Switzerland     0.9611-16      0.9501-11  +1.13   0.9619   0.9481  +2.57 
USD/CAD Canada          1.0312-14      1.0219-29  +0.87   1.0312   1.0202  +1.01 
AUD/USD Australia       0.9887-88      0.9984-89  -0.99   1.0007   0.9888  -3.15 
NZD/USD New Zealand     0.7710-12      0.7766-74  -0.76   0.7785   0.7710  -0.84 
 
Euro Rates 
 
EUR/JPY Japan            99.20-24      100.55-69  -1.39   100.90    99.20  -0.34 
EUR/GBP U.K.            0.8062-65      0.8146-50  -1.04   0.8157   0.8054  -4.64 
EUR/CHF Switzerland     1.2008-12      1.2010-20  -0.04   1.2018   1.2006  -1.33 
EUR/CAD Canada          1.2884-88      1.2914-31  -0.28   1.2948   1.2845  -2.62 
EUR/AUD Australia       1.2637-40      1.2653-69  -0.18   1.2681   1.2588  -0.45 
EUR/DKK Denmark         7.4311-46     7.4295-353  +0.01   7.4432   7.4196  -0.03 
EUR/NOK Norway         7.5381-436     7.5724-908  -0.54   7.5898   7.5294  -2.64 
EUR/SEK Sweden        8.8929-9006    8.8881-9019  +0.02   8.9125   8.8590  -0.22 
EUR/CZK Czech Rep.     25.563-620     25.264-384  +1.06   25.608   25.302  -0.01 
EUR/HUF Hungary         296.38-98      293.98-05  +0.77   296.86   293.64  -5.84 
EUR/PLN Poland         4.3384-460     4.2755-885  +1.41   4.3455   4.2574  -2.80 
 
Yen Rates 
 
AUD/JPY Australia        78.50-54       79.44-56  -1.23    79.69    78.50  +0.38 
GBP/JPY U.K.            123.02-10      123.45-57  -0.37   124.06   123.04  +2.94 
CAD/JPY Canada         76.98-7.04       77.82-94  -1.11    78.09    77.02  +2.23 
NZD/JPY New Zealand      61.22-27       61.83-92  -1.02    61.97    61.22  +2.39 
 
Other Dollar Rates 
 
USD/CZK Czech Rep.     20.460-504      19.984-20  +2.26   20.486   20.000  +3.70 
USD/HUF Hungary         237.22-66      232.61-03  +1.94   237.53   232.30  -2.34 
USD/DKK Denmark         5.9477-96     5.8785-812  +1.17   5.9536   5.8678  +3.68 
USD/NOK Norway          6.0334-68      5.9902-06  +0.65   6.0401   5.9850  +0.98 
USD/PLZ Poland          3.4725-80     3.3830-925  +2.58   3.4777   3.3668  +0.82 
USD/RUB Russia         32.742-816      31.846-03  +0.41   32.809   31.930  +1.96 
USD/SEK Sweden         7.1177-228     7.0329-417  +1.18   7.1251   7.0134  +3.49 
USD/ZAR S. Africa      8.4557-708     8.3100-488  +1.61   8.4734   8.2634  +4.65 
 
USD/CNY China           6.3575-96      6.3739-60  -0.26   6.3741   6.3464  +0.63 
USD/HKD Hong Kong       7.7603-10      7.7576-82  +0.04   7.7606   7.7576  -0.08 
USD/MYR Malaysia       3.1675-740    3.0754-2020  +1.02   3.1865   3.1646  -0.21 
USD/INR India          55.600-700      55.418-33  +0.41   55.810   55.090  +4.95 
USD/IDR Indonesia        9398-414       9157-525  +0.70     9445     9385  +4.13 
USD/PHP Philippines  42.827-3.068     43.128-368  -0.69   43.229   43.000  -2.06 
USD/SGD Singapore       1.2843-46      1.2740-48  +0.79   1.2844   1.2730  -0.93 
USD/KRW S. Korea     1170.39-2.80  1134.59-82.10  +1.14  1170.99  1165.90  +0.95 
USD/TWD Taiwan         29.889-950     29.889-970  -0.03   29.949   29.900  -1.14 
USD/THB Thailand        31.609-60      30.568-02  +1.39   31.671   31.586  +0.11 
USD/VND Vietnam        20945-1015     20557-1206  +0.47    20960    21000  -0.27 
 
USD/BRR Brazil         2.0437-502     2.0031-432  +1.18   2.0453   2.0192  +9.72 
USD/MXN Mexico         14.0554-86    13.8279-820  +1.46  14.0685  13.8154  +0.80 
USD/ARS Argentina      4.4831-904    4.3559-4826  +1.53   4.4861   4.4730  +4.13 
 
Source: ICAP Plc. 

ECB's Coene: Spain Banking Aid Decision Will Prevent Contagion


By Frances Robinson
 
BRUSSELS--The decision to provide assistance to Spain's banks will prevent further contagion in the euro zone, a member of the European Central Bank governing council said Monday.

Over the weekend, Spain said it would accept up to 100 billion euros ($125 billion) in guarantees for its troubled banks and is expected to make a formal request for the money this week, although independent assessments of the amounts required will only come towards the end of June.

"What's positive is we've got a mechanism in place that will allow us to isolate the Spanish problem," Luc Coene told reporters. "This risk is now being limited, it's under control, we've got the necessary resources to do that."

Statements about the bailout by Spain and the European Union have left several open questions, including the exact amount of aid the country will need and how the funds will be disbursed.

And while Coene said details needed to be finalized about how the money will flow from the permanent bailout fund--the European Stability Mechanism--to Spain's banks, he advocated taking the best approach according to circumstances.

He also said the funding decision wouldn't affect the European Central Bank's exceptional policy measures, such as the securities markets program of bond-buying, which was designed to improve monetary policy transmission.

"There is no connection between the two things," he said.
Asked if the structure of senior creditors within the ESM could cause problems, Coene replied he "didn't think so."

"ESM debt is senior, but that is not in itself enough to have a credit event," he said, adding that the final details have yet to be confirmed.

"This has nothing to do with ratings, or non-compliance with conditions," he said.
Initial market reaction to the deal shouldn't be over-interpreted as "it's not unusual for markets to fluctuate," he added.

Spanish government bond prices fell Monday, after an initial relief rally as concerns mounted that the deal will load more debt on to the Spanish state and threaten to subordinate bondholders behind official creditors.
Write to Frances Robinson at frances.robinson@dowjones.com

BOE's Posen: Bank of England Should Buy Small Business Loans


  By Jason Douglas 
 
LONDON--The Bank of England should purchase bundles of small business loans in an effort to boost the supply of credit and end an "investors' strike" that is holding back the economy, BOE rate-setter Adam Posen said Monday.

In a reprise of an earlier appeal, Posen said major central banks around the world should engage in a fresh round of stimulus and target their efforts at parts of their economies most in need of official help.
In the U.S., that is the residential mortgage market. In the U.K., it is lending to small businesses, Mr. Posen said, according to a text of his speech.

"The critical gap to be addressed is in lending to small and medium enterprises, and new businesses," he said.
Mr. Posen said risk-aversion among investors is preventing the extra cash pumped into the U.K. economy by the BOE through its asset purchase program from sparking a revival in investment--an investors' strike that monetary policy should seek to bring to an end.

His proposal calls for the BOE to buy small business loans, thereby spurring banks to lend more to small firms in the knowledge the central bank stands ready to snap up those loans.

Mr. Posen first made his proposal in September last year but the idea met resistance from BOE Governor Mervyn King, who argues that only elected lawmakers can risk taxpayers' money on risky loans. The BOE's GBP325 billion asset purchase program has focused almost exclusively on U.K. government bonds, or gilts.
Mr. Posen, who steps down from the Monetary Policy Committee in August to head the Petersen Institute in Washington, a think tank, said those concerns should be assuaged if the government vowed to indemnify the central bank against any losses.

UPDATE: ECB Urges Adoption of Long-Term View in Accounting Practices


By Kathleen Madigan 
 
Economists expect little joy to be found in this week's flurry of reports. The weak readings will give Federal Reserve policy makers much to consider when they meet next week, on June 19 and 20.

Wednesday's retail sales report is expect to show shoppers pulled back in May. The median forecast is that total sales dropped 0.3% in May. Excluding autos, store sales likely slipped 0.1%, in part because of falling prices at gasoline stations.

Forecasters also think the industrial sector downshifted in May, though that followed a large 1.1% jump in April. Industrial production, out Friday, is expected to show a small 0.1% gain last month, and capacity use is expected to remain at 79.2%.

Two early looks at June are also on tap this week. The Empire State survey from the Federal Reserve Bank of New York, scheduled for Friday, is expected to show weakness in June, after a strong showing in May. The business conditions index is projected to slow to 10.7 this month from 17.09 in May.
The preliminary June reading of consumer sentiment, also out Friday, is forecast to drop to 77.0 from the end-May reading of 79.3.

Economists also think falling oil prices brought down top-line inflation in May.
The producer price index, scheduled for Wednesday, is projected to have fallen 0.8% in May, while the core index, which excludes food and energy, is expected to have increased 0.2%.
The median forecast for the consumer price index, due Thursday, is for a 0.3% drop in May, with the core index up 0.2%.
 DATE     TIME  RELEASE              PERIOD  CONSENSUS  PREVIOUS 
          (ET) 
Tuesday   0730  NFIB Small Business    May      94.5       94.5 
          0830  Import Prices          May      -1.1%      -0.5% 
          1400  Federal Budget         May      -$125.0B   -$57.6B* 
Wednesday 0830  Producer Prices        May      -0.8%      -0.2% 
                 -excl food & energy   May      +0.2%      +0.2% 
          0830  Retail Sales           May      -0.3%      +0.1% 
                 -excl autos           May      -0.1%      +0.1% 
          1000  Business Inventories   Apr      +0.3%      +0.3% 
Thursday  0830  Jobless Claims        Jun 9     375K       377K 
          0830  Consumer Prices        May      -0.3%      Unch 
                 -excl food & energy   May      +0.2%      +0.2% 
          0830  Current Acct Balance   1Q       -$134.0B   -$124.1B 
Friday    0830  NY Fed Empire St Svy   Jun      10.7       17.09 
          0915  Industrial Production  May      +0.1%      +1.1% 
          0915  Capacity Utilization   May      79.2%      79.2% 
          0955  Reuters/UMich Consumer 
                  Sentiment (prelim)   Jun      77.0       79.3** 
 
 *May 2011 reading 
 **end-May reading 
There was an error in this gadget

Pages