Dollar index rises to two-month high

LONDON | Fri Nov 16, 2012 6:16am EST

LONDON Nov 16 (Reuters) - The dollar index rose to its highest in two months on Friday, buoyed by safe-haven inflows into the U.S. currency amid worries about fiscal woes in the United States and the euro zone debt crisis.

The index was up 0.2 percent to hit a high of 81.261, its highest level since Sept. 6.

The euro was down 0.3 percent at $1.2735 while the dollar was flat against the yen at 81.15 yen, having rallied 2.1 percent this week.

Authors: TSX Today

What is S&P/TSX Composite Index?

S&P/TSX Composite Index

The TSX stock exchange defines an index as a statistical measure of the state of the stock market, based on the performance of certain stocks. The performance of the index is typically viewed as a broad indicator of the direction of the economy. Originally known as the TSE 300 the composite index was created in 1977, with a base level of 1000 as of 1975. Through the years the index consisted of a sample of 300 companies, though the companies that comprised the index varied from year to year. Stocks were dropped when they no longer met exchange requirements for size and liquidity.

Effective May 1st, 2002 the index has been managed by Standard & Poor's Corp. of New York. The name was changed from the TSE 300 to the S&P/TSX Composite Index. Along with the S&P branding came new rules. Tougher criteria for meeting size and liquidity standards were imposed and there is now no fixed number of companies in the index. Since May 2002 the number of companies has dropped from 300 to 212 as of November of 2003.

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