Dollar stable in Asia
Tuesday, 14 August 2007
TOKYO, Aug 13 (AFP): The dollar was broadly steady in Asian trade today as recent concerted action by the world's major central banks helped to restore some calm to volatile financial markets, dealers said.
The Bank of Japan announced another cash injection of 600 billion yen (5.0 billion dollars) into the banking system as part of a global effort to avert liquidity shortages due to problems in the US mortgage sector.
The dollar was at 118.26 yen in Tokyo afternoon trade, down slightly from 118.37 in New York late Friday.
The Bank of Japan announced another cash injection of 600 billion yen (5.0 billion dollars) into the banking system as part of a global effort to avert liquidity shortages due to problems in the US mortgage sector.
The dollar was at 118.26 yen in Tokyo afternoon trade, down slightly from 118.37 in New York late Friday.