TSG will combine in the next 30 days Interbank
FX with its retail foreign exchange dealer TradeStation Forex Inc and will operate the acquired company as the IBFX division of TradeStation Forex, the buyer said.
In August 2010, People's Bank of China allowed, on a trial basis, some offshore financial institutions to invest in mainland China's interbank
bond market, prompting the flowing back of offshore renminbi funds into the mainland and increasing the extent of renminbi's internationalization.
FX offers 35,000 individual traders, fund managers, and institutional customers from more than 140 countries proprietary technology and tools to trade forex online.
At the time of writing yesterday, the UAE three month interbank
rate stood at 2.45 per cent, significantly higher than the Saudi Interbank
Offered Rate which stands at about 0.64 per cent.
But while the reduction in the London Interbank
Lending Rate (Libor) has begun to pick up pace, it still remains well above the 4.5% Bank of England base rate.
1256, the contract must be traded in the interbank
In an environment in which banks compete for depositors, the terms on which they make interbank
services available can be powerful strategic tools.
The SBP further reported that in interbank
, the price of Euro decreased by 51 paisa and was traded at Rs 179.55 as compared with last closing at Rs 180.06.
The US dollar touched a record high as it soared against the Pakistani rupee in the interbank
market on last Thursday at Rs 164.50.
The US dollar rose by Rs2.34 in the interbank
market to reach Rs164.50.
The value of the dollar on Friday considerably decreased in the open market as well as the interbank
market by Rs2.50 and Rs4.20 respectively.