Tag Archives: foreign exchange

Euro rises from 22-month low on EU bond issuance plans announced

A shop cash register is seen with sterling and euro currency in the cash register in the border town of Pettigo, Ireland October 14, 2016. REUTERS/Clodagh Kilcoyne Join now for FREE unlimited access to Reuters.com Register The euro is gaining against other currencies like the yen and the Swiss franc …

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Hundreds of Indians stranded in Sumy

London: Indian citizens besieged in Ukraine’s southeast Mariupol region, particularly in Sumy, are reportedly still stranded and unable to escape the safety of an escalating war as Russia and Ukraine continue to disagree on a humanitarian corridor for civilians outside the conflict zone. About 700 Indians live in Sumy. About …

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Sri Lanka’s central bank surprised by runaway inflation

ECONOMYNEXT – Sri Lanka’s central bank has been taken by surprise by the sharp rise in inflation, Governor Nivard Cabraal said after inflation hit 15.1% in February 2022, after two years of printing record currency to keep interest rates low. The central bank also accused banks of failing to raise …

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inflation and debt burden aggravate economic crisis

People queue outside a supermarket in Colombo, following Sri Lanka’s declaration of a state of emergency due to food shortages as private banks ran out of foreign currency to finance imports. August 31, 2021 Ishara S. Kodikara | AFP | Getty Images For Zahara Zain, current times in Sri Lanka …

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Myths, truths about dollarization – The Zimbabwe Independent

Victor Bhoroma AnalystAFTER trying for three years to impose a single currency while avoiding critical economic reform, Zimbabwe’s dedollarization plan has all but failed. The economy has returned to the multi-currency regime that prevailed between 2009 and 2018, with US dollar transactions now dominating formal and informal trade. Even though …

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Soaring crude oil prices would require RBI to act: MPC minutes

Mumbai: Members of the RBI’s monetary policy committee had been considering what steps to take in case the situation in Europe leads to higher oil prices. Minutes of the February 9 Monetary Policy Committee (MPC) meeting, released on Thursday, reveal that central bank policy action would be needed if energy …

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Nepal’s external debt down due to falling dollar

Nepal’s external debt stock decreased slightly in the second quarter of the current FY 2021-22 in local currency from the first quarter despite an increase in the flow of foreign loans in the quarter. This is due to foreign exchange gains made by the national currency due to the depreciation …

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Kerry Group revenue increases

Taste & Nutrition recorded volume growth in all regions and Consumer Foods recorded volume growth across the business. The group’s COI increased by 9.8% to €875.5 million ($995.5 million). This represented a trading profit margin increase of 40 basis points, driven by the recovery of operating leverage, portfolio mix and …

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“A line of fire”: a fire in Argentina burns 500,000 hectares in the midst of drought

BUENOS AIRES, Feb 14 (Reuters) – A devastating wildfire in Argentina’s northern province of Corrientes has spread to more than 500,000 hectares, or 6% of the region’s total area, highlighting the impact of dry weather due to the Niña climate regime in the South American nation. A Civil Defense source …

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A weaker kuna when Croatia joins the eurozone could cause problems

January 30, 2022 – A weaker Croatian national currency (kuna) when Croatia joins the Eurozone could cause more problems than it solves. As Poslovni Dnevnik/Ana Blaskovic writes, with Croatia’s rapid approach to joining the Eurozone, which is expected to take place at the very beginning of 2023, one of the …

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Russian economy can do without the dollar and can be replaced by the euro or the yuan, according to Medvedev

GORKY, January 27. /TASS/. Russian Security Council Deputy Chairman Dmitry Medvedev believes the country can do without dollar payments if necessary, replacing them with euro or yuan payments. “Yes, the absence of dollar payments can be replaced by euro payments if there are decisions on the euro, the yuan exists. …

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Impending Fed rate hikes raise fears of deja vu in emerging markets | Debt News

If there was one character in literature who best reflected the power the US Federal Reserve wields over the global economy, it would be Gulliver. Although he was a good guy who meant no harm, his very massiveness presented a danger to everyone around him – in this case, the …

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Kenyan tourism begins to recover from pandemic with local travel

from Kenya tourism The industry has started to recover from losses caused by the COVID-19 pandemic, the government said on Jan. 19. He said trips from locals had increased as prices were lower. The number of foreign visitors, however, is still well below pre-pandemic levels. The tourism industry is generally …

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Von der Leyen presents his vision for a stronger Europe

Twenty years ago, on 1 January 2002, twelve EU countries exchanged their national currency banknotes and coins for the euro in the biggest currency changeover in history. During these two decades, the euro has contributed to the stability, competitiveness and prosperity of European economies. More importantly, it has improved people’s …

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Lebanese judge freezes assets of central bank governor

BEIRUT (AP) — An investigative judge in Beirut on Tuesday froze some assets belonging to the country’s central bank governor, who is accused of corruption and neglect of duty during Lebanon’s unprecedented economic collapse. Judge Ghada Aoun said she ordered the freeze “as a precautionary measure” as an investigation into …

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Ray Dalio provides advice on cash, bonds and Bitcoin

Hedge fund owner and CEO of Bridgewater Associates, Ray Dalio, has warned investors that cryptocurrency could be banned and advised against holding cash and bonds. A controversial statement for sure, but it’s not easy to ignore the advice of a man with a net worth of over $ 17 billion …

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Commission approves 2022-2027 regional aid map for Greece

Twenty years ago, on January 1, 2002, twelve EU countries changed their national currency notes and coins to the euro in the biggest currency change in history. During these two decades, the euro has contributed to the stability, competitiveness and prosperity of European economies. Most importantly, it has improved the …

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Analyze another trade deficit crisis

KARACHI: When the first wave of the pandemic hit Pakistan, policymakers were concerned about the contraction in economic activity and the uncertainties accompanying the closures and blockages announced by the government. Various incentives have been given to different sectors to ensure that the impact of the Covid-19 shock is minimized. …

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Rupee weakens against dollar and approaches level 76

NEW DELHI: The rupee fell against the US dollar on Tuesday as the global strength of the greenback and weakness in domestic stocks soured sentiment for the Indian currency, brokers said. Traders also preferred to face existing bets on the rupee ahead of the Federal Reserve’s monetary policy statement on …

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The exchange rate remains stable in the official market as the supply of currencies increases by more than 100% – Nairametrics

Thursday, December 9, 2021:The exchange rate between the naira and the US dollar closed at 415.07 N / $ 1 at the official window of investors and exporters (I&E). The naira held steady against the US dollar on Thursday to close at N 415.07 / $ 1. This is the …

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Sri Lanka needs ‘real depreciation’, says World Bank economist

ECONOMYNEXT – Sri Lanka will need a longer-term “real depreciation” of its currency to boost its exports, said World Bank chief economist for South Asia, making a repeated assertion national mercantilists. “Let me take a longer-term view of the currency, looking at the circumstances in Sri Lanka,” Hans Timmer, chief …

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Making good use of SDRs in Africa

Strengthen the capital base of regional development financial institutions to better rebuild Almost 18 months after the start of the COVID-19 pandemic, the Board of Directors of the International Monetary Fund (IMF) approved the issuance of new Special Drawing Rights (SDRs) on August 2, 2021. The IMF proceeded to the …

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Powell Drops Stocks, Flattens Yield Curve With Talks About Accelerating Fed Taper

Text size Federal Reserve Chairman Jerome Powell. Alex Wong / Getty Images What is transient? Federal Reserve Chairman Jerome Powell admitted on Tuesday that it was not about inflation, and said the central bank would likely consider accelerating its reduction in bond purchases at its next meeting political on December …

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Turkish lira hits new highs ahead of another expected rate cut

AComments of the Minister of Finance of the dds, update of the level of the lire ANKARA, November 16 (Reuters) – Turkish lira weakens 1.3% Tuesday to a new record of 10.22 against the dollar, weighed down by the expectations of another interest reaten cut by a central bank which …

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No worries about inflation: Minister of Finance

Mustafa Kamal said the rise in the dollar’s price was also normal TBS Report October 27, 2021, 10:35 PM Last modification: October 27, 2021, 10:39 PM Minister of Finance AHM Mustafa Kamal. Sketch: SCT “> Minister of Finance AHM Mustafa Kamal. Sketch: SCT Despite the rising value of the US …

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Air Liquide: Third quarter 2021:

(a) Change excluding significant currency, energy (natural gas and electricity) and scope effects, see reconciliation in the appendix. Commenting on 3(rd) quarter sales for 2021, Benoît Potier, Chairman and CEO of Air Liquide, stated: “The third quarter confirms the continued sales growth observed in the first half-year. All activities are …

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AZZ: Discussion and analysis by management of the financial position and operating results (Form 10-Q)

Forward Looking Statements Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," …

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RBI faces monetary policy dilemmas

As widely expected, the Reserve Bank of India (RBI) once again left its negative real policy rate unchanged in the October 8 monetary policy announcement. The macroeconomic situation on the ground had not changed significantly during its latest policy announcements. If anything, his dilemmas have escalated. First, despite the courageous …

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Korea issues $ 1.3 billion in forex bonds at record spread

October. 12. 2021 Settings Finance 2021-10-07 16:32 Korea issues $ 1.3 billion in forex bonds at record spread Economy and Finance Ministry’s International Finance Bureau Director General Kim Seong-wook speaks during a briefing at the Sejong government compound on Thursday. Courtesy of the Ministry of the Economy and Finance Seoul-Washington …

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Zimbabwe: controlling inflation is a tough task

Zimbabwe’s National Statistics Agency (Zimstat) pointed out that the (annual) year-over-year inflation rate increased slightly to 51.55% in September 2021 from 50.24% in August 2021 after 8 consecutive months of decline from 363% recorded in January 2021. The increase comes as a result of a widening of the spread between …

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Dollar drops as traders wait for US jobs data

An employee counts US dollar banknotes at a currency exchange office in central Cairo, Egypt, March 20, 2019. REUTERS / Mohamed Abd El Ghany./File Photo Dollar index down 0.2% British pound extends rebound from 9-month low NEW YORK, Oct.4 (Reuters) – The dollar slipped against a basket of currencies on …

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Government spends billions in fight against covid19

Business Ryan hamilton-davis 4 hours ago A long line of people waiting for covid19 relief grants at the Department of Social Development and Family Services in Port of Spain. – Photo by Sureash Cholai A few days after the covid19 virus was declared a global pandemic, on March 13, 2020, …

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Towards a more equitable and sustainable Philippines

AC Energy’s 405 megawatt solar project led by Ayala in partnership with the BIM group in Vietnam. RCBC is the sole lender for this project. It is one of the largest solar farms in Southeast Asia. Sustainable finance positively influences society in the Philippines. A recent bond issue illustrates its …

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Sensex Sheds 155 Pts; Nifty slips under 14,850; Rupee slips for the fifth consecutive session

The benchmark Sensex inventory index fell 155 factors on Friday, following losses by index heavyweights ICICI Financial institution, Reliance Industries and HDFC Financial institution amid largely unfavorable indicators from international markets. The 30-stock BSE index completed 154.89 factors or 0.31 % decrease at 49,591.32. Likewise, the broader NSE Nifty slipped …

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Fed speech, replace on rate of interest expectations

Overview of central financial institution supervision: April is simply over every week outdated, however Fed policymakers have been lively within the intervening interval – and certain will stay in order the April 28 FOMC assembly approaches. Fed officers have fastidiously towed the road in order to not scare the markets …

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