| Australia Dollar Falls After Central Bank Keeps Rates Unchanged
April 4 (Bloomberg) -- The Australian dollar declined the most in a month after the central bank refrained from raising interest rates from a six-year high of 6.25 percent. Government bonds rose. The currency retreated from a decade-high reached yesterday fueled by traders raising bets the Reserve Bank of Australia would lift the cost of borrowing to a 10-year high. Australia's dollar declined as much as 0.9 percent as it triggered preset orders to prevent greater losses. ``The market was sitting on stops just above 81.10, so it's not surprising we've seen such a violent reaction,'' said Ray Attrill, director of foreign exchange research at Forecast Ltd. in Sydney. Australia's dollar dropped to 80.82 U.S. cents at 10:22 a.m. in Sydney after trading as low as 80.65, from 81.16 cents immediately before the announcement and 81.34 cents in Asia yesterday.
Brazilian Real Holds Near Six-Year High on Investment Inflows
April 5 (Bloomberg) -- Brazil's real held near a six-year high as foreign investors moved money into the country to tap into a rally in the stock and bond markets. The real rose 0.1 percent to 2.0314 to the dollar at 3:05 p.m. New York time. Yesterday, the currency touched 2.0276 per dollar, its strongest since reaching 2.0170 on March 6, 2001. The real has gained 5.1 percent against the dollar this year, making it the best performer of the 16 most active currencies. ``It won't take long for the real to breach the 2.0-per- dollar level,'' said Mario Battistel, foreign-exchange director at Sao Paulo-based brokerage Corretora Novacao. ``There is an excess of dollars in the market.'' The central bank bought the U.S. currency in the spot market today in an attempt to soak up some of that liquidity and boost foreign reserves.
FOREX: Ringgit Closes Higher Against US Dollar
KUALA LUMPUR, April 6 (Bernama) -- The ringgit closed higher against the US dollar today due to the inflow of foreign funds into the local market, dealers said. At 5.00pm, the local currency was traded at 3.4480/4500 against the greenback compared with yesterday's closing of 3.4500/4510. The ringgit has been seeing good support due to the strong economic prospects in the region, contributing to the inflow of foreign funds into the market, the dealers said. They said the ringgit also took an advantage of the weaker dollar in the global market and moved in line with its regional peers. On Wednesday, Bank Negara Malaysia's governor Tan Sri Dr Zeti Akhtar Aziz, in commenting on the ringgit's performance, said the currency movement had always reflected a two-way flow. In today's trading session, the ringgit was mixed against major currencies.
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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