AGL 40.03 Increased By ▲ 0.03 (0.08%)
AIRLINK 127.50 Increased By ▲ 0.46 (0.36%)
BOP 6.69 Increased By ▲ 0.02 (0.3%)
CNERGY 4.50 Decreased By ▼ -0.01 (-0.22%)
DCL 8.47 Decreased By ▼ -0.08 (-0.94%)
DFML 41.95 Increased By ▲ 0.51 (1.23%)
DGKC 86.73 Decreased By ▼ -0.12 (-0.14%)
FCCL 32.01 Decreased By ▼ -0.27 (-0.84%)
FFBL 64.94 Increased By ▲ 0.14 (0.22%)
FFL 10.15 Decreased By ▼ -0.10 (-0.98%)
HUBC 109.60 Increased By ▲ 0.03 (0.03%)
HUMNL 14.72 Increased By ▲ 0.04 (0.27%)
KEL 5.13 Increased By ▲ 0.08 (1.58%)
KOSM 7.20 Decreased By ▼ -0.26 (-3.49%)
MLCF 41.40 Increased By ▲ 0.02 (0.05%)
NBP 59.90 Decreased By ▼ -0.51 (-0.84%)
OGDC 195.35 Increased By ▲ 5.25 (2.76%)
PAEL 28.32 Increased By ▲ 0.49 (1.76%)
PIBTL 7.75 Decreased By ▼ -0.08 (-1.02%)
PPL 151.50 Increased By ▲ 1.44 (0.96%)
PRL 26.55 Decreased By ▼ -0.33 (-1.23%)
PTC 16.10 Increased By ▲ 0.03 (0.19%)
SEARL 78.06 Decreased By ▼ -7.94 (-9.23%)
TELE 7.46 Decreased By ▼ -0.25 (-3.24%)
TOMCL 35.43 Increased By ▲ 0.02 (0.06%)
TPLP 8.09 Decreased By ▼ -0.03 (-0.37%)
TREET 16.15 Decreased By ▼ -0.26 (-1.58%)
TRG 52.97 Decreased By ▼ -0.32 (-0.6%)
UNITY 26.69 Increased By ▲ 0.53 (2.03%)
WTL 1.26 No Change ▼ 0.00 (0%)
BR100 9,941 Increased By 57.3 (0.58%)
BR30 30,924 Increased By 324.3 (1.06%)
KSE100 93,845 Increased By 489.4 (0.52%)
KSE30 29,071 Increased By 140.4 (0.49%)

China's yuan edged up against the dollar on Friday ahead of a meeting of top Group of Seven financial officials which may step up pressure on Beijing for faster appreciation.
But the yuan stayed below the day's mid-point set by the Chinese central bank, showing that despite rising expectations for yuan appreciation in the offshore forwards market, many onshore traders continue to think China will not permit a rapid rise any time soon.
The Chinese currency closed at 7.5080 to the dollar in very quiet, narrow trade, up from Thursday's close of 7.5111 and near its intra-day high of 7.5075. Before trade began, the central bank set the mid-point at 7.5074, up modestly from Thursday's 7.5113.
Dealers said they did not think the higher mid-point was related to the G7 meeting. "The stronger mid-point is a response to the weakness of the dollar in global markets, where it hit a three-week low against the yen," said a trader at a major international insurer. "It's not a goodwill gesture to the G7 ministers."
Earlier this month, euro zone finance ministers said they would make pressing for faster yuan appreciation a priority, raising the possibility of a concerted push by the United States and Europe.

Copyright Reuters, 2007

Comments

Comments are closed.