Weizmann Forex Ltd Q1 net profit up at Rs. 7.02 crores

WEIZMANN FOREX LTD. has reported financial results for the period ended June 30, 2018. The company has reported net sales of Rs.2475.07 crores during the 3 months period ended June 30, 2018 as compared to Rs.2061.02 crores during the 3 months period ended June 30, 2017. The company has posted net profit of Rs.7.02 crores for the 3 months period ended June 30, 2018 as against Rs.6.95 crores for the 3 months period ended June 30, 2017. The company has…

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FX Edge – Steeper EUR/DKK FX Forward Curve

FX forward curve has steepened as the 3M point has declined to its lowest level since early 2018 on portfolio outflows and ample DKK liquidity. We still expect the DKK net position to be around DKK220bn at the end of the year and assuming portfolio outflows do not reverse, the 3M EUR/DKK FX forward should continue to trade around the current low level. DKK-based clients with EUR assets and a hedging mandate should consider hedging beyond 1Y as opposed to…

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GLOBAL MARKETS-Shares regain footing as lira pulls out of nosedive – Macroeconomic News

* Lira rebounds 5 percent after three week-long thrashing * Rand and rouble, European bank stocks also drive higher * MSCI ex-Japan subdued but Nikkei bounces 2.3 pct * China economic data mostly softer than forecast * Euro finds some support, yen and Swiss franc favoured * Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh By Marc Jones LONDON, Aug 14 (Reuters) – World share markets fought to regain their footing on Tuesday, as Turkey’s lira pulled out of its recent…

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Invesco DB US Dollar Bullish(NYSE:UUP): Turkish Lira Plunging

Last week brought several significant examples of this trend in the UK, China, Iran and — most dramatically — Turkey. Is this a sign of more disruption to come? UK: Brexit continues to pressure the pound The British pound came under more pressure last week as the UK hurtled closer to its March 2019 Brexit date with the increasing possibility that it may not reach a deal with the European Union. According to the Commitments of Traders reports published by…

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GLOBAL MARKETS-Shares regain footing as lira roars out of rout – Politics News

* Lira rebounds 7 percent after three-week thrashing * Rand and rouble, European bank stocks also drive higher * MSCI ex-Japan subdued but Nikkei bounces 2.3 pct * China economic data mostly softer than forecast * Euro finds some support, yen and Swiss franc favoured * Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh By Marc Jones LONDON, Aug 14 (Reuters) – World share markets regained their footing on Tuesday as the threat from the collapse of the Turkish lira ebbed…

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Risk-recovers in Asia as Lira stabilizes, eyes on German GDP, UK jobs

Asia witnessed a recovery in risk appetite across the financial markets, as Lira looked to stabilize amid easing tensions between Turkey and Washington. Amongst the G10 currencies, the Kiwi dollar benefited the most amid risk-recovery, despite downbeat Chinese economic releases. The Aussie traded modestly flat near 0.7270 levels on the back of a dip in the Australian business confidence, as published by the NAB. The Yen was on the back foot around 110.80 levels on profit-taking after yesterday’s sharp rally.…

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UPDATE 1-Indonesia president to hold cabinet meeting on FX strategy

* Cabinet meeting due at 0630 GMT after being brought forward * Rupiah, bond yield at multiyear lows * BI expected to keep rates on Wed, but set to be close call * Indonesia Q2 FDI contracts for first time since at least 2011. (Adds context, updates time of meeting) JAKARTA, Aug 14 (Reuters) – Indonesian President Joko Widodo will hold a cabinet meeting on Tuesday to discuss foreign exchange strategy, a finance ministry spokesman said, a day after the…

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China is about to be called out as a currency manipulator – here’s why

The next logical step in America’s escalating trade war with China could be President Donald Trump’s administration ramping up the rhetoric on the falling yuan currency. The US dollar has appreciated five per cent this year versus the yuan, with those gains occurring mainly in the last month or two. Accusations from Trump of currency manipulation were sizeable on his campaign trail, but have been more muted during his presidency. That might be about to change. “It could happen… this…

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Saudi Monetary Authority Prohibits “Unauthorized Virtual Currencies” | Crowdfund Insider

Citing “negative consequences,” “high risks,” and a lack of “government supervision,” the Saudi Standing Committee for Awareness on Dealing in Unauthorized Securities Activities in FOREX Markets has officially declared, “Unauthorized virtual currencies…illegal inside the Kingdom of Saudi Arabia.” The announcement came August 12th in the form of “a supreme decree” issued jointly by the Saudi Capital Market Authority (CMA), the Ministry of Interior Membership, the Ministry of Media, the Ministry of Commerce and the Investment and Saudi Arabian Monetary Authority (SAMA). According…

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Turkish lira crash is hurting millennials invested in emerging markets

The Turkish lira did not go down on its own when it plunged to record lows. Emerging-market assets from currencies to stocks also sold off as investors wondered what Turkey’s currency trouble would mean for other countries. One of the most prominent victims of the drop was the Vanguard FTSE Emerging Markets exchange-traded fund (VWO), a basket of stocks located in China, South Africa, and other developing countries. With $90 billion in net assets, it’s a bedrock emerging-market ETF. Its…

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Dollar higher as Turkey currency carnage continues

The Turkish lira remained under heavy pressure as the country’s currency crisis continued, providing a lift to the dollar and currencies viewed as havens. The lira USDTRY, +8.1960%  plunged to another all-time low against the U.S. dollar on Monday, breaching 7 lira per dollar for the first time on record, after surpassing both the 5- and 6-lira…

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The Guardian view on Turkey’s currency crisis: it was made at home | Editorial | Opinion

President Recep Tayyip Erdoğan’s bizarre utterances about “an operation against Turkey” run by shadowy “interest-rate lobbies” and “bullies of the global system” cannot hide the fact his own policies are behind the lira’s precipitous slide. It’s true that a strange spat over a detained American pastor was used as a pretext by the Trump administration to impose punitive tariffs on Turkish steel and aluminium imports. This contributed to turning the lira’s disorderly retreat on the markets into a chaotic rout.…

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European Markets Weaken Further On Concerns Over Turkey

The European markets ended the first session of the new trading week with modest losses. Investor sentiment continues to be impacted by concerns over the currency crisis in Turkey and the fear of contagion. The Turkish lira hit a new record low against the U.S. dollar in Asian trading before regaining some ground after Turkey’s central bank took measures to boost liquidity in the foreign exchange market. Over the weekend, Turkish Finance Minister Berat Albayrak announced the government plans to…

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Dollar reverses as Turkey currency carnage continues

The Turkish lira remained under heavy pressure as the country’s currency crisis continued, providing a lift to the dollar and currencies viewed as havens. The lira USDTRY, +7.3046%  plunged to another all-time low against the U.S. dollar on Monday, with one dollar buying 6.8716, up from 6.4275 lira late Friday in New York. The lira’s drop was…

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Turkey Says Has Action Plan to Ease Market Concerns

Turkey has drafted a economic action plan and will start implementing it on Monday morning to ease investor concerns, Finance Minister Berat Albayrak said on Sunday after the lira plunged to a new record low in early Asia Pacific trade. In an interview with Hurriyet newspaper published online, Albayrak described the lira’s weakness as “an attack,” echoing President Tayyip Erdogan, who is his father-in-law, and said the action plan was ready. “From Monday morning onwards our institutions will take the necessary steps and…

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Euro Down, Safe Haven Currencies Higher on Turkish Lira Crash By Investing.com

© Reuters. Euro down, safe haven currencies higher on Turkish lira crash Investing.com – The euro was trading at more than one-year lows on Monday as a crash in the Turkish lira roiled global markets amid fears that the country’s financial crisis could spread to European markets. The lira fell to a record low against the dollar overnight with hitting 7.0303, before easing back slightly to 6.7779, still up 5.84% for the day. The lira found some support after Turkey’s…

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