Dollar gives back gains

Published August 10, 2002

LONDON, Aug 9: The dollar gave back some of its recent gains on Friday amid nervousness ahead of a US interest rate decision next week and a deadline for US chief executives to certify their financial statements.

But news of another multi-billion-dollar hole in the accounts of bankrupt US telecom giant WorldCom was greeted with little more than a yawn by most traders.

The single European in late-day deals was trading at 0.9719 dollars against 0.9664 dollars late on Thursday in New York.

The dollar was worth 120.11 yen from 120.97 on Thursday.

The euro was changing hands at 0.9719 dollars against 0.9664 on Thursday, 116.74 yen (116.93), 0.6373 pounds (0.6310) and 1.4603 Swiss francs (1.4628).

The dollar was being quoted at 120.11 yen (120.97) and 1.5026 Swiss francs (1.5125).

The pound was at 1.5252 dollars (1.5308), 183.25 yen (185.21) and 2.2920 Swiss francs (2.3158).

On the London Bullion Market, an ounce of gold edged up to 312.95 dollars from 312.15 late on Thursday.—AFP

Opinion

Editorial

Doctor attacked
09 Jun, 2026

Doctor attacked

AN act of reprehensible violence has shaken the medical community. On Saturday, an employee of the Provincial Civil...
AJK flare-up
Updated 09 Jun, 2026

AJK flare-up

The situation started deteriorating after a trader affiliated with the JAAC was reportedly shot in an altercation with law-enforcers.
Fault lines
09 Jun, 2026

Fault lines

THE April 8 ceasefire that halted hostilities between Israel and Iran has encountered its most serious test yet....
Soft on traders
08 Jun, 2026

Soft on traders

THE Fixed Tax Asaan Scheme for traders with an annual turnover of up to Rs200m has been designed as a ‘pragmatic...
Ceasefire in name
Updated 08 Jun, 2026

Ceasefire in name

Both sides accuse the other of violating the truce that was supposed to halt the conflict in April, yet neither appears willing to abandon negotiations altogether.
Damaged childhoods
08 Jun, 2026

Damaged childhoods

CHILD abuse is so prevalent that the UN ranked Pakistan as the least safe country for children. Even so, more than...