| Fuel Prices Tumble
FUEL prices that had shot up to about $25 000 a litre have tumbled to at least $15 000 per litre and this has been attributed to the plunge in the foreign currency exchange rate on the black market. A survey by The Herald in the city centre yesterday showed that most service stations were selling a litre of both petrol and diesel at between $15 000 and $19 600. .
Aussie Shows Strength Across The Board Early Wednesday
(RTTNews) - The Australian dollar made advances against the other major counterparts during early trading Wednesday in New York. However, into the overnight hours, Aussie showed weakness to the Greenback, Euro and Loonie but reversed the loses completely soon after. French and Italian February CPI and the British economic data, which were released during the session helped Aussie to gain further versus Euro and Pound. The market now turns toward the Euro-Zone Q4 employment data followed by the US Q4 current account balance and the February import price index data at 8:30 am ET. Later in the day, Australia March consumer inflation expectation, February employment, unemployment, participation rate and the RBA foreign exchange transaction are expected. Overnight New York Wednesday, the Australian currency moved sideways to the Greenback.
Russia accumulating gold and currency reserves
RBC, 05.04.2007, Moscow 11:04:32.The Bank of Russia's gold and foreign currency reserves amounted to $338.7bn as of March 30, up $6.1bn, or almost 2 percent, from the previous showing. Hence, the reserves have been rising for five weeks straight, with the increase amounting to $27.6bn, or 9 percent, over this period. This stepping-up in Russia's reserves may be attributed to the Central Bank's active foreign currency acquisitions on the domestic market, as well as to the euro's advance against the dollar on international exchanges. Ten latest news Other news .
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