| The Philadelphia Stock Exchange Announces Launch Of PHLX Foreign ...
The Philadelphia Stock Exchange (PHLX) announced today the launch of PHLX modified foreign exchange spot rates for the Euro (XDE) and British Pound (XDB). PHLX will disseminate a modified spot rate beginning Friday, March 30. Pursuant to the Exchange's modified spot rate methodology, if the British Pound is valued at 1.9750, the modified rate will be disseminated as 197.50. "Investors will now have a readily available Euro and British Pound spot rate to assess foreign exchange trading opportunities by simply typing into their broker-dealer's website the symbols XDE and XDB," said Daniel R. Carrigan, PHLX's vice president of new product development. "These modified spot rates make the trading of PHLX World Currency Options similar to the experience of trading equity and index options in options-approved securities accounts for the retail investor," he said.
Pokarna Ltd allots FCCBs for US$ 15 million
Pokarna Ltd has announced that on the date, the Company issued and allotted Zero Coupon Foreign Currency Convertible Bonds ("FCCBs") with a maturity of 5 years and one day. The FCCBs were issued in the principal amount off US$ 12 and are convertible into ordinary shares of the Company at an initial conversion price of Rs 295.64 per share. The conversion price of the FCCBs may be adjusted in certain circumstances. The FCCBs have a 7.5% per annum yield to maturity (calculated on a semi-annual basis). The said issue was made at 32% premium to the reference date price.
The Company had previously obtained the approval of its shareholders to issue FCCBs up to a value of US$ 15 Million. These FCCBs will be listed on the Singapore Stock Exchange.
M/s. Standard Chartered Bank was the lead manager for this issue and M/s.
Transactions on forex market hit record high in February
The interbank forex market set a new record in the volume of transactions for February with 22.5 billion euros, four times higher than the monthly average of 2004 and 62% higher than the monthly average of 2006, according to the NBR data. "A significant share" of the volume traded on the forex market is due to speculative capitals the central bank believes.
The volume of foreign currency transactions exceeded NBR's foreign currency reserve (21.6 billion euros) for the first time in February.
After a sudden adjustment in September and October 2006, right after the full convertibility of the RON was announced, the inflows of foreign capital have supported a constantly upward trend of trading volumes. .
Aussie dollar slips from 10-year high, outlook firm
SYDNEY, April 5 (Reuters) - The Australian dollar slipped from fresh decade highs against the U.S. dollar on Thursday, but sentiment was bullish amid speculation that Australia's central bank may increase interest rates next month. Higher commodity prices also underpinned the local currency, which is expected to take a further cue from U.S. monthly jobs report to be released on Friday. "A rate hike in May would likely push the Aussie dollar above $0.8200, especially with commodity prices continuing to rise," said John Kyriakopoulos, strategist at nab Capital. "No move would see the Aussie falling below $0.8000." The 30-day interbank futures market <0#YIB:> was pricing in about an even chance Australia's central bank would raise rates to a decade high of 6.50 percent at its May meeting.
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