© Reuters. In a notable financial update, India’s foreign exchange (forex) reserves have surged by $4.672 billion, reaching a seven-week peak of $590.783 billion for the week ending on November 3. This increase was highlighted in Mumbai on November 10 by a syndicated news feed and comes after the Reserve Bank of India (RBI) reported
© Reuters. Investing.com – The U.S. dollar slipped higher in early European trade Friday, but was heading for healthy weekly gains after Fed Chair Jerome Powell raised the possibility of further rate hikes to combat inflation. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies,
© Reuters. The Nigerian Naira continues to experience significant depreciation, despite the Central Bank of Nigeria’s attempts to strengthen the local currency. The Naira’s value has been on a downward trajectory since June 2023, when forex reforms triggered the floating of the local currency from N471.67 per dollar, marking the beginning of its depreciation journey.
© Reuters Investing.com– Most Asian currencies moved in a flat-to-low range on Friday, while the dollar held on to recent gains as comments from Federal Reserve officials saw traders reassess expectations of no more interest rate hikes. Concerns over an economic slowdown in China also dented sentiment towards Asia, following a string of weak data
© Reuters. The US dollar is showing signs of strain against commodity currencies, despite the rise in yields, indicating a market shift favoring growth over rate differentials, as reported on Thursday. This situation emerges as the Federal Reserve considers potential further rate hikes that could have adverse effects on the US economy. Earlier this week,
© Reuters. The currency pair experienced a rebound from its weekly lows, trading higher near 0.5930 during the Asian session on Thursday, Nov 09, 2023. The rise was attributed primarily to a weakening US dollar rather than the impact of China’s mixed economic data. This data included a 0.2% yearly fall in October’s Consumer Price
© Reuters. Investing.com– Most Asian currencies moved little on Thursday as disappointing inflation data from China weighed on sentiment, while weakness in the Japanese yen saw traders on edge over any government intervention. The dollar was steady in Asian trade, sticking to a recent rebound as Federal Reserve officials continued to offer hawkish signals on
© Reuters. Today, the Central Bank of Nigeria (CBN) addressed public concerns over the legitimacy of old Naira notes and rumors of cash scarcity. Isa AbdulMumin, Director of Corporate Communications at the CBN, confirmed that all CBN-issued banknotes are legal tender, including redesigned ones. The confirmation is rooted in Section 20(5) of the CBN Act
© 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.
© Reuters On Tuesday, the Pakistani Rupee experienced depreciation against the US Dollar and the European Euro in both interbank trading and open market rates, as reported by the Foreign Exchange Association of Pakistan (FAP) and the State Bank of Pakistan (SBP). The Rupee closed at Rs 286.39 against the Dollar in interbank trading, marking
