BRIEFING - ASIA FOREX - JULY 28, 2008

Jul 28, 2008 (AsiaPulse via COMTEX) --

An executive briefing on Forex for July 28, 2008, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

FOREX - US DOLLAR FIRMER AGAINST YEN - JULY 28, 2008

TOKYO - The US dollar was trading at 107.72-107.74 yen at 5:53 p.m. Monday, up 0.94 yen.

FOREX - AUSTRALIAN DOLLAR ENDS WEAKER - JULY 28, 2008

SYDNEY - The Australian dollar ended weaker for the fourth successive trading day after a major bank flagged a sharp fall in earnings because of bad debt.

At 1700 AEST, the Australian dollar was trading at 95.56 US cents, down from Friday's close of 95.82 cents.

FOREX - AUSTRALIAN DOLLAR LOWER TO NOON - JULY 28, 2008

SYDNEY - The Australian dollar was lower at noon as news that deteriorating conditions in global credit markets was hitting local banks and lower commodity prices combined to push the currency lower.

At 1200 AEST, the Australian dollar was trading at US$0.9531 34, down from Friday's close of 0.9580/83.

FOREX - AUSTRALIAN DOLLAR OPENS WEAKER - JULY 28, 2008

SYDNEY - The Australian dollar has opened weaker as the US currency gained strength from a trio of better-than-expected data on Friday night.

At 0700 AEST, the Australian dollar was trading at US$0.9552 56, down from Friday's close of 0.9580/83.

FOREX - US DOLLAR FIRMER AGAINST BAHT - JULY 28, 2008

BANGKOK - The US dollar was trading at 33.4650 baht at 3.29 p.m. Monday, up from 33.445 baht at 3:40 p.m, Friday.

FOREX - US DOLLAR UP AGAINST SINGAPORE DOLLAR - JULY 28, 2008

SINGAPORE - The US dollar was trading at 1.3638 Singapore dollars at 4.29 p.m Monday, stronger than 1.3597 Singapore dollars at 4.37 p.m on Friday.

FOREX - RUPIAH FIRMER AGAINST US DOLLAR - JULY 28, 2008

JAKARTA - The rupiah rose sharply to edge closer to Rp9,100 per dollar in the Jakarta interbank spot market on Monday morning following a rush for the local unit.

The rupiah traded at Rp9,105/9,110 per dollar on Monday morning against Rp9,136/9,137 per dollar at the weekend, an increase of 21 points.

FOREX - US DOLLAR ENDS WEAKER AGAINST WON - JULY 28, 2008

SEOUL - The US dollar on Monday ended at 1,006.0 won, down from 1,009.2 at the close on Friday.

FOREX - US DOLLAR OPENS WEAKER AGAINST WON - JULY 28, 2008

SEOUL - The US dollar on Monday started at 1,006.9 won, down from 1,009.2 at the close on Friday.

FOREX - RINGGIT OPENS WEAKER AGAINST US DOLLAR - JULY 28, 2008

KUALA LUMPUR - The ringgit opened at 3.2630/2650 against the US dollar on Monday, weaker than 3.2480/2500 at the close on Friday.

ASIA PULSE

FOREX - RINGGIT ENDS FIRMER AGAINST US DOLLAR - JULY 25, 2008

KUALA LUMPUR - The ringgit ended at 3.2480/2500 against the US dollar on Friday, firmer than 3.2520/2540 at the close on Thursday.

FOREX - US DOLLAR ENDS FIRMER AGAINST RUPEE - JULY 25, 2008

MUMBAI - The US dollar ended dearer against the rupee at Rs.42.26 per dollar and the pound sterling also finished higher at Rs.84.38 per pound at the InterBank Foreign Exchange (Forex) market here on Friday.

The euro ended at Rs 66.53 and the yen (100) closed at 39.41.

S KOREA'S INTER-BANK FOREX TURNOVER FALLS 9.8 PCT IN Q2

SEOUL - The daily foreign exchange turnover by South Korea's banks fell 9.8 per cent in the second quarter from three months earlier as transactions of currency spots and foreign exchange derivatives declined, the central bank said today.

The daily trading volume of foreign exchange among banks averaged US$24.8 billion in the April-June period, compared with $27.5 billion the previous quarter, according to the Bank of Korea (BOK).

CHINA COMPLETES CONSTRUCTION OF FOREX PAYMENT SYSTEM

BEIJING - China has completed the construction of a foreign exchange payment system, announced by the People's Bank of China, the central bank.

This is the first real-time foreign exchange settlement system in various currencies.

News Provided by COMTEX

BRIEFING - ASIA FOREX - JULY 28, 2008

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