Tag: currency

  • 10 largest economies in Africa ranked by currencies

    10 largest economies in Africa ranked by currencies

    Business Insider Africa has done its bit to present the currencies of the top 10 largest economies in Africa ranked from best to worse. This ranking is not based on any other thing than by the strongest currencies on the continent. As you may see from the table in this post, Africa has a diverse…

  • Yen weakens as Japan continues shifting Currency Rhetoric

    Yen weakens as Japan continues shifting Currency Rhetoric

    Japanese Yen is going up and down in the spectrum. It trading on a softer note in Asian session as the rebound witnessed yesterday begins to lose steam. The country’s Finance Minister, Shunichi Suzuki raised some interest among market observers. He said the ongoing weakening of Yen is partly due to two main things: interest…

  • Dollar rises as Pound slides to 6-month low

    Dollar rises as Pound slides to 6-month low

    The dollar scaled a 10-month high on Wednesday, pushing the euro and sterling to six-month lows and keeping the yen deep in intervention territory, as the prospect of higher-for-longer U.S. rates gripped markets. U.S. Treasuries stabilised after their recent heavy selloff, though yields remained near 16-year peaks, keeping the greenback solidly bid. The euro was…

  • Yen backtracks after strong move higher…

    Yen backtracks after strong move higher…

    The yen retreated on Tuesday, coming off its biggest one-day percentage rise since mid-July as the currency strengthened on comments from Japan’s top central banker, while the U.S. dollar gained as investors awaited the latest reading on inflation. The greenback strengthened 0.39% at 147.15 against the yen to recover somewhat from a 0.83% fall on…

  • Dollar edges up ahead of inflation reading

    Dollar edges up ahead of inflation reading

    The dollar edged up ahead of the key U.S. inflation report due later on Wednesday, while the euro fell from a one-week high in the previous session with traders cautious ahead of an expected European Central Bank rate hike on Thursday. The dollar index , which tracks the currency against six peers including yen, euro…

  • UPDATE 2-Euro zone bonds steady, markets increase bets…

    UPDATE 2-Euro zone bonds steady, markets increase bets…

    Euro zone government bonds held steady on Tuesday even as money markets slowly increased their bets on another rate hike by the European Central Bank, if not necessarily at its meeting this week. Investors are almost evenly split on whether the ECB will raise interest rates on Thursday, with euro short-term rate (ESTR) forwards pricing…

  • Canadian dollar extends rebound from 5-month low

    Canadian dollar extends rebound from 5-month low

    The Canadian dollar strengthened against its U.S. counterpart on Monday, adding to its recovery from a five-month low, as an increase in risk appetite weighed on the safe-haven U.S. dollar. The loonie was trading 0.4% higher at 1.3580 to the greenback, or 73.64 U.S. cents, after moving in a range of 1.3562 to 1.3639. On…

  • Zloty Slide Sends Warning Across EU’s East on Rate Cut Risks – YAHOO!

    Zloty Slide Sends Warning Across EU’s East on Rate Cut Risks – YAHOO!

    The steep rout in eastern European currencies is raising speculation among market strategists that policymakers will have to slow their plans to ease monetary policy. The Polish currency dropped 0.3% against the euro, extending its decline to 3.4% in the past week after a bigger-than-expected rate cut roiled markets. With Hungary already months into an…

  • Nigerian naira vs dollar: currency on edge ahead of another hike

    Nigerian naira vs dollar: currency on edge ahead of another hike

      The Nigerian naira remained on edge on Tuesday morning as investors waited for the upcoming interest rate decision by the country’s central bank. The official USD/NGN exchange rate stood at ~800, a few points below the year-to-date high of 820. On the other hand, the black market rate has surged to a record high…

  • Is Nigeria’s ecurrency enaira making progress?

    It is more than six months since Nigerians got the news that the federal government has released the eNaira. Looking back, we see that the ecurrency has not really made the impact that government wanted in the first place. The problem with it is that Nigerians have no need of it. There’s an app released…

  • Naira’s poor run against dollar

    The Nigerian naira is finding it hard to move solidly against the dollar these past few days. It almost traded at 600 naira to the dollar at the parallel market on Thursday. This is a four month low for the currency, with no indication that it could be better in coming weeks. The apparent reason…

  • Currency wars: Yuan continues to fall against the dollar

    Currency wars: Yuan continues to fall against the dollar

    The Chinese yuan has had a bad run for a long time. But at no time has things got worse as it is right now. China is world’s second largest economy but it has been suffering from the effects of covid lockdown for some time now. Apart from that, investors have been moving money frantically…

  • List of banks in Nigeria limiting foreign currency spending on naira cards

    Nigerians have now made it so that people in Nigeria who use naira atm cards will no longer be able to spend more than $20 or $50 with it online in a month. Bad news for people who are used to making regular purchases with their cards online, spending in dollar, pounds or euro. Check…

  • Dollar remains in pole position – News

    Inflation is big trouble these days, and for countries that are contemplating economic growth, inflation appears to be the biggest challenge. There has been news that soon, China may become the largest economy in the world but COVID-19 has been relentless in that country. Supply chain disruptions will increase, demand will be affected negatively, and…

  • Euro drops massively against dollar & Russian ruble

    It seems the war in Ukraine is wreaking havoc on the euro. Just today, it is revealed the euro fall is a record one judging by its relationship with the dollar for over five years. It is even more surprising that the euro has fallen double digits against the Russian ruble while fell massively after…

  • Currency chaos you should know about

    We learn about the terrible performance of silver and gold over the past week. For the year, silver is now marginally down. Gold on its part was $14 down this week. It traded at $1915. Remember, it fell too last week. Silver traded at $23.47 recently this week, which shows it down 62 cents, extending…

  • Japan – Worst currency crash in 20 years a concern

    The weakening yen is the number one concern for the Japanese government. The fall of the currency has made worse the imported inflationary pressures, while there is also growing global commodity and oil costs. Finance minister, Shunichi Suzki revealed that the benefits accruing to the economy is much lower than the damage to the economy.…

  • Rupee falls 14 paise to 76.05 against U.S. dollar

    At the interbank foreign exchange, the rupee opened lower at 76.05 against the U.S. dollar, registering a decline of 14 paise over its previous close. On Monday, the rupee rose marginally to 75.91 against the U.S. dollar. “Most Asian and emerging market peers are trading weaker against the US dollar this Tuesday morning, and rebounding…

  • China is buying Russian energy with its own currency

    According to information reaching us, China is buying Russian oil and coal with its local currency (yuan) as Western sanctions on Moscow spur trade deals that don’t rely on the US dollar. Last month, several Chinese firms used yuan to purchase Russian coal, which will begin arriving this month and mark the first commodity shipments…

  • No peace for emerging market currencies…

    Most emerging market currencies will continue to struggle against the mighty dollar over the coming year as the U.S. Federal Reserve finally delivers expected aggressive policy tightening, according to a Reuters poll of FX strategists. Central banks in emerging market economies have been bracing for this for months by hiking their benchmark interest rates. But…

You cannot copy content of this page