SAMPLE 1

SNAPSHOT-Vietnam dong, gold and interbank rates-Oct 1-0243 GMT

213 words
1 October 2012
12:44
Reuters News
LBA
English
(c) 2012 Reuters Limited
HANOI, Oct 1 (Reuters) - Here's a snapshot of Vietnamese dong exchange rates in the official
and unofficial markets, indicative gold prices in Hanoi and interbank offered rates at
0243 GMT.

Oct 1
Sept 28
USD/VND mid-point
20,828
20,828
USD/VND interbank
20,860/20,900 20,860/20,890
USD/VND unofficial 20,860/20,880 20,870/20,890
Gold (mln dong per tael)
47.03/47.40 47.07/47.44
Interbank offered rates Overnight
2.5-3.0
2.5-3.0
1 week
3.5-4.0
3.0-3.5
1 month
6.0-7.0
6.5-7.0
3 months
n/a
n/a
NOTES: State Bank of Vietnam rules allow dollar/dong transactions to move in a band of +/- 1
percent around the mid point set daily. The dong's exchange rate against other currencies is
not restricted by a band. Interbank quotes are indicative bid/ask prices.
One tael is equivalent to 37.5 grams or 1.21 troy ounces. Interbank offered rates are
indicative, quoted from market sources.
For Vietnam market overview click on.
(Reporting by Hanoi Newsroom)
ABN | D | M | SI | DNP
Reuters Limited
Document LBA0000020121001e8a10002i
SAMPLE 2
NZ Dollar Outlook: Kiwi may fall, looking "tired" at US83cts
Jonathan Underhill
838 words
1 October 2012
10:56
BusinessDesk
BUSWNZ
English
Copyright 2012. Content Ltd.
NZ Dollar Outlook: Kiwi may fall with risk long bets are disappointed
Oct. 1 (BusinessDesk) - The New Zealand dollar may fall this week with the risk that traders
betting on further gains are disappointed if there are further signs of global economic
weakness or the Reserve Bank of Australia fails to cut interest rates tomorrow.
The local dollar last traded at 82.78 US cents, down from 82.97 cents in late New York trading
on Friday. The kiwi will trade in a range of 81.80 US cents to 83.50 cents this week, based on a
BusinessDesk survey of six analysts. Four of the six said the currency may weaken this week.
The Reserve Bank of Australia's review of interest rates in New Zealand's biggest export

market tomorrow is seen as a major focus for the kiwi this week. The New Zealand dollar is
trading near 80 Australian cents, a level it hasn't broken through since September last year, as
traders bet the RBA will cut rates a quarter point to 3.25 percent tomorrow and follow up with
further cuts. Weaker demand from China has weighed on prices for Australia's raw materials
such as coal and iron ore. If the RBA fails to act the kiwi could tumble.
"The kiwi-oz trade is fairly crowded - a lot of people have got on board," said Alex Sinton,
senior dealer at ANZ New Zealand. "A move above 80 (Australian cents) would cause some
consternation." As the kiwi has gained, "people have been scaling back their expectations."
Surveys show has a 60 percent chance of a rate cut in the RBA's monetary policy review
tomorrow. Meanwhile, China releases its official manufacturing PMI this afternoon. That comes
after the Chinese HSBC manufacturing PMI on Friday printed at 47.9, signalling a contraction.
Market consensus is for today's data to show a return to growth at 50.1, though ANZ Bank is
picking it remains in contraction.
That would add to recent evidence the Chinese economy is weakening, which bodes poorly for
Australia and New Zealand, which count the Asian nation as first and second-largest export
market respectively.
"The kiwi is going to step lower with the Australian dollar and that's a function of the China
slowdown," said Derek Rankin, director at Rankin Treasury Advisory.
Both currencies have benefitted from money flows "scared out" of Europe looking for a relative
haven and with the local currencies having extra polish from relatively high interest rates for
Aaa-rated nations, he said.
Rankin says the kiwi will extend its gains against the Australian dollar, partly as a function of
the relatively stronger demand for New Zealand's exports.
"We sell food, they sell rocks - at the moment food is outperforming rocks," Rankin said. "The
time for exporters having an easy run into Australia are over."
Mike Jones, currency strategist at Bank of New Zealand, says an Australian rate cut is a wider
concern because of what it means the RBA is thinking about the state of the Australian
economy.
"There's an awful lot of good news priced into the kiwi at the moment," he said. This week
"could see risk positions pared back."
Keeping a lid on trading activity is Golden Week in China, which will see many take a holiday
this week.
Spain will again be at the forefront of investors' minds in coming days amid hopes the country
will decide to seek financial help, though a formal request to its European Union partners might
not happen until later this month.
Also on the agenda, along with the RBA, are minutes from the latest meeting of the US Federal
Reserve, word from policy makers at the European Central Bank, who meet on Thursday, and
meetings by the Bank of England and the Bank of Japan.
"This could be a deadly dull week because everything is as expected or it could be volatile
because nothing comes out as expected," said Peter Cavanaugh, senior client adviser at
Bancorp.
He says the kiwi at around 83 US cents is "looking a bit tired and the bias for the week is
lower."
There's little in the way of New Zealand economic data scheduled for this week, though the
ANZ Commodity Price Index due for release tomorrow and results of the latest
GlobalDairyTrade auction due out on Wednesday will give an update on the prices New Zealand
is getting for its overseas shipments.
The week rounds out with the September US employment report. Non-farm payrolls are
forecast to have risen by 115,000, while the US unemployment rate is forecast to have edged
up 0.1 percent to 8.2 percent, according to Reuters.
This week also brings the first of three presidential debates between President Barack Obama

and Republican candidate Mitt Romney, on Wednesday. Obama is managing to hold a slight
advantage in the polls despite the economy's lingering weakness.
(BusinessDesk)
Content Ltd
Document BUSWNZ0020121001e8a10002v
SAMPLE 3
Political Theatre
RBI Should March in Step with Govt: FM
ROHINI SINGH & HEMA RAMAKRISHNAN NEW DELHI
1082 words
1 October 2012
The Economic Times - Bangalore Edition
ECTBAN
English
Copyright 2012. Bennett, Coleman & Co., Ltd.
Tasked with turning around growth & the credibility of the govt, P Chidambaram says he just
happens to be at the right place at the right time.
In his first exclusive interview after taking over as FM, he says the govt must always tell the
truth
Finance Minister P Chidambaram wants the Reserve Bank to "walk in the same direction" as
the government by cutting interest rates in response to sweeping reforms to rules governing
foreign investment and politically-difficult cuts in fuel subsidies."In our view, the government
and monetary authority must point in the same direction and walk in the same direction.
As we take steps on the fiscal side, RBI should take steps on the monetary side,"
Chidambaram,67, said in his first exclusive interview since returning to the finance ministry.
RBI had held interest rates stable at 8% in its mid-quarter review of monetary policy on
September 17, even as the government announced a dramatic series of reforms on September
13-14.
The MP from Sivaganga is front and centre of the drive by the Sonia Gandhi-led Congress to
recapture the initiative and return to power in the elections due in 2014.
The core of the strategy, many analysts say, is to revive economic growth, so as to generate
resources for welfare schemes such as NREGA and the proposed Food Security Bill.
Key to this approach is reviving investor confidence, which the Manmohan Singh-led
administration has tried to do by pushing through economic reforms like allowing foreign
supermarkets to enter India.
The Harvard-educated lawyer, who returned to the finance ministry on July 31, succeeding
Pranab Mukherjee, said his top priority was to stabilise the exchange rate by making India an
attractive destination for non-debt dollar inflows such as remittances and foreign direct
investment in order to tackle the stubbornly high current account deficit and control
inflation."We want to do all that needs to be done to bring about stability in the exchange rate.
Volatility in the exchange rate impacts trade, impacts investment decisions and makes RBI's
job of controlling inflation more difficult.
That's why I put that on the top.
If there are more capital inflows, preferably non-debt creating inflows like remittances and FDI,
that will help stabilise the exchange rate.
In fact, the rupee will strengthen," Chidambaram told this paper on Saturday in an interview at
his North Block office.
The rupee, which dipped to an alltime low of 57.13 to a dollar in June, has since started

strengthening due to higher inflows into the stock market.

It has risen 5% since July 31, closing at 52.86 on Friday.
A rise in the rupee against the dollar will bring down the oil subsidy bill and help tame inflation.
The Sensex has risen almost 9% since July 31, closing at 18,763 on Friday.
Strict Vigil on Expenditure Priority, says Chidambaram
A strict vigil on expenditure was another core priority, and this would be accompanied by a
crackdown on tax evaders to raise revenues, Chidambaram said."Running a tighter ship itself
will yield results.
We need to convey to the people that complying with tax laws is better than non-compliance."
Despite the recent cut in fuel subsidies, the finance minister, who joined the Rajiv Gandhi
government in 1985, said subsidies cannot be wished away in a country where many people
are poor, signalling that further big-bang reforms such as freeing up diesel and urea prices
may have to wait.
The UPA government has faced ferocious opposition to its reforms, with the principal
Opposition party, BJP, threatening to rescind the move to allow foreign supermarkets into
India."We would have to take some hard decisions, but consistent with the socio-economic
objectives of the government.
In a country where a significant number of people are poor, there will always be a certain level
of subsidies.
The key to managing those subsidies is to target them better and ensure they are transferred
directly to beneficiaries," Chidambaram said.
The Trinamool Congress snapped ties with the UPA after the reforms were announced."I don't
think we face a credit rating downgrade.
But we take it seriously that some people have talked about a possible downgrade.
We will engage with the rating agencies and convince them that we are taking necessary
steps," said the minister.
Both the Prime Minister's Economic Advisory Council and RBI have warned the government on
the need to rein in the so-called twin deficits - on the fiscal and current account - to avoid the
risk of a credit downgrade.
The minister said growth will return to 8% if investment goes back to 37-38 % of GDP.
He claimed that the widespread perception that he was undoing many of the acts of his
predecessor Pranab Mukherjee, now the President of India, was wrong.
A controversial retrospective change in income-tax laws in this year' budget, which allows the
government to impose a capital gains tax on Vodafone's acquisition of the Indian telecom
assets of Hutchison Whampoa, has attracted international opprobrium.
That decision is up for review along with the proposed rules against tax avoidance.
Chidambaram made it clear that "a resolution of the Vodafone dispute would be prudent and
beneficial.
But how do we resolve it? Do we resolve it through a settlement or do we resolve it through
arbitration or litigation is a matter that has to be considered.
Let's wait for the Shome Committee to give its advice".
The Shome panel has suggested in its draft report that GAAR be postponed by three years.
Its final report is expected on Monday.
India's export-oriented IT sector is also poised to have a stable tax regime after a report by yet
another panel suggested that the tax regime should move away from the aggressive
enforcement of the Mukherjee years.
On the GST, he said the bill to amend the Constitution, giving states the right to charge service
tax and the Centre to impose tax up to the retail stage, can be passed if the Centre reached an

agreement with the Empowered Committee of State Finance Ministers."There are some
concerns and I am confident these can be addressed.
We have got the AG's opinion that there is no effect on the legislative and executive autonomy
that states enjoy under the Constitution," he said.
Bennett, Coleman & Co., Ltd.
Document ECTBAN0020121001e8a100001
SAMPLE 4
Dollar trades just below 78 yen line in early Tokyo deals
Kyodo
147 words
1 October 2012
10:03
Kyodo News
KYODO
English
(c) 2012 Kyodo News
TOKYO, Oct. 1 -- The U.S. dollar traded just below the 78 yen line in early Tokyo deals Monday,
almost unchanged from its late Friday levels in New York.
At 9 a.m., the dollar fetched 77.96-98 yen compared with 77.90-78.00 yen in New York and
77.57-58 yen in Tokyo at 5 p.m. Friday.
The euro was quoted at $1.2810-2815 and 99.87-89 yen against $1.2855-2865 and 100.05-15
yen in New York and $1.2931-2932 and 100.31-35 yen in Tokyo late Friday afternoon.
In New York on Friday, traders bought back the dollar, which had fallen to a two-week low of
77.44 yen earlier in the day, to lock in profits, dealers said.
==Kyodo
Kyodo News
Document KYODO00020121001e8a10002t