Japanese stocks closed higher on Wednesday, driven by gains in tech heavyweights both in Tokyo and on Wall Street. The benchmark Nikkei 225 Stock Average increased by 88.65 points, or 0.23%, to close at 38,570.76. Meanwhile, the broader Topix index rose by 12.88 points, or 0.47%, finishing the day at 2,728.64.
(more…)Tag: Japanese Yen
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Tokyo Stocks Close Higher, Tracking Gains in US Markets
Tokyo stocks closed higher on Tuesday, following gains in the overnight U.S. stock market, although profit-taking limited the rise in later trading. The benchmark Nikkei 225 index of Tokyo stocks ended the day up 379.67 points, or 1 percent, closing at 38,482.11.
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Tokyo Stocks Plunge Amid European Political Concerns
Tokyo, June 17, 2024 — Tokyo stocks closed sharply lower on Monday, driven by investor concerns over political instability in Europe and potential economic slowdown in the United States. Japan’s benchmark Nikkei stock index, the 225-issue Nikkei Stock
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Bank of Japan Holds Rates Steady as Yen Tumbles to 34-Year Low
The Bank of Japan (BOJ) concluded its two-day policy meeting on Friday with the decision to keep its policy rate unchanged, a move that further pressured the Japanese yen, driving it to a 34-year low against the U.S. dollar.
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SBP includes Japanese Yen to Asian clearing union mechanism
KARACHI: State Bank of Pakistan (SBP) on Monday announced to include Japanese Yen to Asian Clearing Union (ACU) mechanism.
A statement issued by the central bank said that it had been decided to include ACU Japanese Yen as the third ACU currency along with USD & EURO with effect from January 01, 2020.
The ACU Yen would be equivalent in value to one Yen. Accordingly, transactions under ACU Mechanism, in addition to ACU Dollar (ACUD) & ACU Euro (ACUE), may also be denominated and settled in ACU Yen (ACUY) from January 01, 2020.
In this regard, ADs may establish ACUY accounts with their correspondents in ACU member countries and open their correspondents’ ACUY accounts with them.
The transactions in ACUY would be reported by ADs to SBP and settled by SBP separately likewise in other two ACU currencies.
Accordingly, three separate accounts will be maintained for the settlement of each ACU currency (ACU Dollar, ACU Euro and ACU Yen).
Further, with a view to encourage ADs to maintain reasonable / sufficient balances in their accounts to ensure timely payments, the authorized dealers are permitted to pay / receive interest, at their discretion, on these (ACUD, ACUE & ACUY) accounts as per mutually agreed terms and conditions.
The balances of ACUD, ACUE & ACUY accounts together with other FCY / Nostro accounts would however be subject to the overall exposure limits of ADs.