© Reuters The Bangladeshi Taka continues to depreciate against the US dollar, leading to heightened financial strain for businesses and economic repercussions. Today, the interbank exchange rate stands at Taka 111 per dollar, with some banks collecting remittances at rates up to Taka 117 per dollar, and open market trading at Taka 121 per dollar.
On Tuesday, the Nigerian naira showed a significant appreciation of 21.81%, closing at an official rate of N815.32/$1, up from N993.82/$1 the previous day. This change was accompanied by intraday figures that ranged between a high of N998.00/$1 and a low of N6475.00/$1, marking a spread of N523/$1. Despite this appreciation, Tuesday also saw a
© Reuters. Arthur Hayes, the former CEO of BitMex, has recently conducted an analysis on the potential capital flight from China, following the (CNY) depreciating nearly 15% against the U.S. dollar (USD) this year. The depreciation has ignited speculation about China’s investment strategies in the face of economic instability. Hayes’ analysis was informed by insights
© Reuters. FILE PHOTO: Coins and banknotes of China’s yuan are seen in this illustration picture taken February 24, 2022. REUTERS/Florence Lo/Illustration/File Photo SHANGHAI (Reuters) -China’s central bank has stepped up efforts to support the yuan currency this week in the wake of renewed downside pressure amid Beijing’s underwhelming measures to stabilise a faltering economy
© Reuters. FILE PHOTO: Coins and banknotes of China’s yuan are seen in this illustration picture taken February 24, 2022. REUTERS/Florence Lo/Illustration/File Photo SHANGHAI (Reuters) – China’s currency regulators have been asking some commercial banks to reduce or postpone their purchases of U.S. dollars, two people with direct knowledge of the matter said. The informal
