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FAX: 04 - 2268005 |
TEL: 04 -2268251 |
Thursday, 28-August-2008 |
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NEWS & VIEWS |
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INTERBANK EXCHANGE RATES |
INTERBANK INTEREST RATES % |
| CURRENCY |
Buying |
Selling |
Cross rates |
1 month |
3 months |
6 months |
1 year |
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UAE Dirhams |
| AED= |
- |
- |
- |
2.759 |
2.828 |
2.869 |
2.931 |
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USD= |
3.6720 |
3.6730 |
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2.219 |
2.560 |
2.868 |
2.981 |
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GBP= |
6.7418 |
6.7473 |
1.8360 / 64 |
5.111 |
5.504 |
5.663 |
5.773 |
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EUR= |
5.4265 |
5.4316 |
1.4778 / 81 |
4.227 |
4.710 |
4.901 |
5.055 |
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JPY= |
0.03354 |
0.03358 |
109.38 / 41 |
0.000 |
0.000 |
0.125 |
0.250 |
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CHF= |
3.3543 |
3.3583 |
1.0937 / 42 |
2.000 |
2.493 |
2.634 |
2.920 |
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AUD= |
3.1781 |
3.1827 |
0.8655 / 59 |
6.875 |
7.005 |
7.010 |
7.113 |
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CAD= |
3.5139 |
3.5182 |
1.0440 / 44 |
2.850 |
3.100 |
3.200 |
3.450 |
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SGD= |
2.5976 |
2.6002 |
1.4126 / 55 |
0.750 |
0.938 |
1.313 |
1.500 |
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EMIRATES PRIME LENDING RATE (BASE RATE) 9.00% |
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SELECTED MARKET INDICATORS |
U.S. Fed Funds Rate |
2.00 |
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DOW JONES |
11,502.51 |
(89.64) |
U.S. Prime Rate |
5.00 |
| NIKKEI INDEX |
12,741.90 |
(11.06) |
U.S. 10 Yr Bond |
3.78 |
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Gold |
832.20 |
| LIBOR 3 Months |
2.81000 |
London fixing |
Silver |
13.66 |
| LIBOR 6 Months |
3.11750 |
27-Aug |
Dubai Crude |
114.28 |
TRADING RANGE FOR THE DAY
(vs US$) |
FORTHCOMING ECONOMIC INDICATOR |
| Euro |
1.4660 |
1.4900 |
28/08/2008 US Core PCE prices |
| JPY |
108.10 |
110.70 |
28/08/2008 US Initial claims |
| GBP |
1.8170 |
1.8490 |
28/08/2008 US Jobless claims |
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News Highlights |
The dollar slipped from a six-month high against the Euro on Thursday after comments by European Central Bank officials the previous day scaled back speculation about an ECB rate cut.
Sterling slid to a fresh two-year low against the U.S. dollar on Wednesday in thin trading, pressured by concerns about a slowing British economy that could force the Bank of England to cut interest rates.
The Australian dollar jumped after stronger-than-expected capital expenditure data led investors to trim expectations for an aggressive interest rate cut by the central bank next week.
U.S. Treasury debt prices closed higher on Wednesday in a late return to safe-haven buying after spending much of the day under pressure from a stronger-than-expected July durable goods report.
Gold rose further on Thursday on safe-haven buying as oil continued its ascent and on a sliding dollar, but it would have to crack key resistance levels to sustain the uptrend.
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Emirates Bank Group offers you (through its wholly owned Investment Banking subsidiary - Emirates Financial Services) a choice of several carefully researched local and international funds to construct your investment portfolio. For details please contact the Relationship Team at 04-3437799 or e-mail us at efs@emiratesbank.com. |
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