Dollar lower against yen
Tuesday, 12 February 2008
SINGAPORE, Feb 11 (AFP): The dollar was lower against the yen in Asia today during thin post-holiday trading, dealers said.
In afternoon trade the greenback was at 107.06 yen, down from 107.41 earlier and 107.32 in New York late Friday.
The euro was higher at 1.4555 dollars from 1.4505 late Friday.
Tokyo markets were closed Monday for a public holiday. Elsewhere in Asia other markets were reopening after breaks for the Lunar New Year.
Top world finance ministers warned Saturday that the global economy faces growing threats from a US housing slump and credit crunch. They pledged to take remedial action if needed.
But the finance chiefs from the Group of Seven (G7) industrialised nations, meeting in Tokyo, announced no new concrete measures to shore up their economies and markets in light of the recent crisis in the high-risk subprime mortgage sector.
The ECB Thursday left its benchmark rate at 4.0 per cent.
The dollar was down against most other Asian currencies. It was worth 938.24 South Korean won from 941.30 Friday, 9,203.95 Indonesian rupiah from 9,235.00, and 40.58 Philippine pesos from 40.62.
It fell to 31.20 Thai baht from 32.90 and was almost unchanged at 1.4188 Singapore dollars from 1.4189.
The US unit rose to 32.01 Taiwan dollars from 31.98.
In afternoon trade the greenback was at 107.06 yen, down from 107.41 earlier and 107.32 in New York late Friday.
The euro was higher at 1.4555 dollars from 1.4505 late Friday.
Tokyo markets were closed Monday for a public holiday. Elsewhere in Asia other markets were reopening after breaks for the Lunar New Year.
Top world finance ministers warned Saturday that the global economy faces growing threats from a US housing slump and credit crunch. They pledged to take remedial action if needed.
But the finance chiefs from the Group of Seven (G7) industrialised nations, meeting in Tokyo, announced no new concrete measures to shore up their economies and markets in light of the recent crisis in the high-risk subprime mortgage sector.
The ECB Thursday left its benchmark rate at 4.0 per cent.
The dollar was down against most other Asian currencies. It was worth 938.24 South Korean won from 941.30 Friday, 9,203.95 Indonesian rupiah from 9,235.00, and 40.58 Philippine pesos from 40.62.
It fell to 31.20 Thai baht from 32.90 and was almost unchanged at 1.4188 Singapore dollars from 1.4189.
The US unit rose to 32.01 Taiwan dollars from 31.98.