AGL 41.50 Increased By ▲ 2.96 (7.68%)
AIRLINK 128.00 Decreased By ▼ -1.50 (-1.16%)
BOP 6.26 Increased By ▲ 0.65 (11.59%)
CNERGY 4.13 Increased By ▲ 0.27 (6.99%)
DCL 8.44 Decreased By ▼ -0.29 (-3.32%)
DFML 40.69 Decreased By ▼ -1.07 (-2.56%)
DGKC 87.90 Decreased By ▼ -0.40 (-0.45%)
FCCL 34.10 Decreased By ▼ -0.90 (-2.57%)
FFBL 66.33 Decreased By ▼ -1.02 (-1.51%)
FFL 10.56 Decreased By ▼ -0.05 (-0.47%)
HUBC 108.70 Decreased By ▼ -0.06 (-0.06%)
HUMNL 14.46 Decreased By ▼ -0.20 (-1.36%)
KEL 4.65 Decreased By ▼ -0.10 (-2.11%)
KOSM 7.33 Increased By ▲ 0.38 (5.47%)
MLCF 42.72 Increased By ▲ 1.07 (2.57%)
NBP 60.84 Increased By ▲ 1.24 (2.08%)
OGDC 178.97 Decreased By ▼ -4.03 (-2.2%)
PAEL 25.70 Decreased By ▼ -0.55 (-2.1%)
PIBTL 6.06 Increased By ▲ 0.09 (1.51%)
PPL 146.15 Decreased By ▼ -0.55 (-0.37%)
PRL 24.91 Increased By ▲ 1.30 (5.51%)
PTC 16.14 Decreased By ▼ -0.42 (-2.54%)
SEARL 70.20 Increased By ▲ 1.90 (2.78%)
TELE 7.22 Decreased By ▼ -0.01 (-0.14%)
TOMCL 36.20 Increased By ▲ 0.25 (0.7%)
TPLP 7.84 Decreased By ▼ -0.01 (-0.13%)
TREET 15.59 Increased By ▲ 1.39 (9.79%)
TRG 50.36 Decreased By ▼ -0.09 (-0.18%)
UNITY 26.90 Increased By ▲ 0.15 (0.56%)
WTL 1.24 Increased By ▲ 0.03 (2.48%)
BR100 9,795 Decreased By -11.1 (-0.11%)
BR30 29,647 Decreased By -31.2 (-0.1%)
KSE100 92,021 Decreased By -282.9 (-0.31%)
KSE30 28,665 Decreased By -175.5 (-0.61%)

Most Asian currencies were firmer on Monday as the dollar weakened broadly after disappointing wage data raised questions about the pace of US interest rate increases next year. The dollar index, which tracks the greenback against a basket of six major rival currencies, was down 0.08 percent at 93.827.
November's employment report showed US nonfarm payrolls rose by 228,000 jobs last month, better than expected, while average hourly earnings rose five cents or 0.2 percent. Anaemic earnings growth is likely to keep the Fed wary about raising rates too fast, Mizuho bank said in a report.
The Philippine peso led regional gainers on Monday, rising more than quarter of a percent, bolstered by a rating upgrade by Fitch. Fitch Ratings raised the Philippines' sovereign credit rating, citing the nation's strong economic performance and policies and pointing to no immediate impact on investment from President Rodrigo Duterte's deadly war on drugs.
The Indian rupee edged up on the back on strong foreign inflows. While most regional equity markets witnessed foreign outflows, Indian equities have received inflows of about $150 million this month, exchange data showed. China's yuan inched up following a firmer midpoint rate, while the Malaysian ringgit and the South Korean won also advanced on the day.
Stephen Innes, head of Asian trading at currency broker Oanda, said he is most positive on the ringgit among Asian currencies. "I am convinced that we are going towards a rate hike in January, which is a positive for the ringgit. I am also of the view, the government and the BNM are favouring a stronger currency." Innes said.
The ringgit has risen more than 3 percent against the dollar, over the past month. The central banks of Indonesia and Philippines will meet to review rates on Thursday and most analysts expect both to stand pat.
However, a few did not rule out the possibility of them turning hawkish. "We maintain our view that Bangko Sentral ng Pilipinas (BSP) will hike rates by 100 basis points by end-2018, the first 25 basis points of which may come this week," said DBS in a report.
China's strong trade data, released at the end of last week, also boosted regional currencies on the day. Exports in November rose 12.3 percent year-on-year, the fastest pace in eight months, led by strong sales of electronics and high-tech goods, while commodity purchases helped lift imports.

Comments

Comments are closed.