Results for
Currency
34 Results-
Chinese banks seize on Russia, oil trade to internationalize yuan
Chinese banks are ramping up efforts to promote international use of the yuan, and reporting a surge in cross-border yuan business from the country’s ... Banking & Finance -
Lebanon inflation crisis rages anew after 90 percent pound devaluation
Lebanon’s first official devaluation in a quarter century fired up consumer prices in March, with food and beverage inflation exceeding an annual 350 ... Middle East -
Egypt raises social spending, food subsidies to offset inflation
Egypt raised funding for its overall social protection programs by 48 percent for the 2023-24 fiscal year to EGP 529.7b ($17.1 billion) from EGP358.4b ... Business -
Zimbabwe to introduce gold-backed digital currency: Report
Zimbabwe will soon introduce a gold-backed digital currency meant to stabilize the local unit from its continued depreciation against the dollar, ... World News -
Russian arms sales to India stall due to fears over US sanctions
Russian deliveries of military supplies to India have ground to a halt as the countries struggle to find a payment mechanism that doesn’t violate US ... World News -
Britain’s soaring pound is this year’s unlikely comeback story
Just a few months ago, it was a no-brainer to bet against the British pound.Talk about the currency tumbling to US dollar parity was everywhere during ... World News -
Egypt Bank shares signal expectation of pound devaluation
The London-listed securities of Egypt’s largest listed bank are signaling expectations of another devaluation in the North African nation’s ... Economy -
Turkey tightens rules on FX deposits in new move to support lira
Turkey’s central bank on Friday tightened regulations deterring banks from holding foreign currency as the lira comes under pressure.The decisions ... Economy -
Russian ruble tumbles to lowest level since April 2022
The Russian ruble tumbled on Friday to the lowest levels against the dollar and the euro since April 2022, breaching 90 per euro amid a foreign ... World News -
Russian ruble weakens past 80 vs dollar for first time in almost a year
The Russian ruble fell to a near one-year low past 80 to the dollar on Thursday as lower foreign exchange supplies and capital outflows combined with ... World News -
Russia still uses ‘toxic’ euro and dollar to sell nearly half of exports
Russia still conducted nearly half of all trade late last year in the currencies of its adversaries that imposed sanctions over the Kremlin’s invasion ... World News -
Iranian currency plunges to new lows amid unrest, international isolation
Iran’s currency fell to a record low against the US dollar on the unofficial market on Sunday, amid the country’s increasing isolation over its ... Middle East -
Crypto exchanges allowing sanctioned Russian banks access: Report
Two major crypto exchanges still allow customers of sanctioned Russian banks to transact on their platforms, according to a report from digital asset ... Banking & Finance -
Cash is king in Lebanon as banks atrophy
The money exchange shop in Lebanon’s Bekaa Valley was buzzing with business. Cellphones pinged endlessly and employees shouted out various rates as ... Middle East -
G7 talks to be dominated by Russia sanctions, Ukraine support, finance diplomat says
Japan, this year’s chair of the Group of Seven (G7), expects Russia’s invasion of Ukraine to dominate talks among the world’s major advanced economies ... World News -
Angry Lebanese protest record-low value of local currency
Protesters burned tires and held up handfuls of local currency bills on Wednesday at the entrance of the Lebanese central bank in Beirut, furious over ... Middle East -
Egypt’s devaluation ushers in volatility as pound plumbs new low
A plunge in the Egyptian pound signaled a fresh bout of volatility for the currency, with analysts expecting further depreciation ahead.For the latest ... Economy -
Egypt’s pound heads for biggest drop since October devaluation
The Egyptian pound plunged to a record low on Wednesday, heading for its biggest slump since the aftermath of the North African nation’s devaluation ... Economy -
Soaring dollar leaves food piled up in ports as world hunger grows
Food importers from Africa to Asia are scrambling for dollars to pay their bills as a surge in the US currency drives prices even higher for countries ... Economy -
Asia spends $50 billion in September to defend currencies from strong US dollar
Asian governments spent about $50 billion in foreign-exchange reserves last month -- the highest level since March 2020 -- to defend their currencies ... World News -
King Charles III coins to soon enter circulation in UK, official coin maker says
Coins featuring the portrait of Britain’s King Charles III will soon enter circulation in the United Kingdom, making him the nation’s first King on ... Banking & Finance -
Bitcoin pares drop sparked by Federal Reserve’s warning of rate-hike pain
Cryptocurrencies pared declines triggered by another large Federal Reserve interest-rate hike, though sentiment remained cautious given the central ... Economy -
Egypt backs flexible pound amid devaluation calls, IMF talks
Egypt’s government now favors a more flexible currency to support an economy that’s come under pressure from Russia’s invasion of Ukraine, a top ... Middle East -
Russia considers buying $70 billion in Yuan, other ‘friendly’ FX
Russia is considering a plan to buy as much as $70 billion in yuan and other “friendly” currencies this year to slow the ruble’s surge, before ... Economy -
Iraq’s central bank has no future plan to change exchange rate: Report
Iraq’s central bank sees no reason to change the exchange rate of the dinar currency and has no future plan to do so in the next three to five years, ... Middle East -
Crypto is ‘worth nothing’ and should be regulated: Europe Central Bank president
European Central Bank President Christine Lagarde said crypto-currencies are “based on nothing and should be regulated” to steer people away from ... Financial Markets -
Lebanon cenbank says to continue selling dollars at Sayrafa rate ‘without amendment’
Lebanon’s central bank will continue to allow commercial banks to purchase US dollars on its Sayrafa platform rate, it said on Tuesday, in response to ... Middle East -
The UAE introduces new polymer five and ten dirham notes
The United Arab Emirates’ central bank has introduced two new polymer banknotes for the five and ten dirham denominations, the official WAM news ... Gulf -
Lebanon plans to adopt ‘realistic exchange rate’ in 2022 budget: Ministry
Lebanon plans to adopt a “realistic exchange rate” for the local pound in the 2022 budget, according to a document published by the finance ministry ... Middle East -
UAE issues new 50 dirham note to commemorate Golden Jubilee
The United Arab Emirates has introduced its first polymer banknote to commemorate the 50th anniversary of the nation’s founding, according to a ... Gulf