© Reuters. Investing.com – The U.S. dollar retreated in early European trade Friday, while the euro rebounded from multi-month lows after the European Central Bank’s latest meeting signaled the rate hike will be its last. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded
© Reuters. The Nigerian Naira has continued to depreciate against major currencies, with the exchange rate for a dollar reaching N950 at the Lagos Parallel Market on Friday, September 15, 2023. The Naira also saw depreciation against the British Pound and the Euro, going from N1190/£1 to N1210/£1 and from N995/€1 to N1020/€1 respectively. This
© Reuters. The Central Bank of Kenya (CBK) has imposed a limit on the amount of U.S. dollars that money remittance firms can sell to customers each day, in an attempt to regulate the market amid declining forex reserves. The directive, which was implemented on Thursday, restricts these firms to transactions of a maximum of
The euro fell to its lowest level in over five months against the dollar on Thursday, as the European Central Bank’s (ECB) recent interest rate hike led market participants to believe it could be the last of its kind. The common currency slipped below $1.066 after the ECB’s announcement and continued to decline even after
The Euro (EUR) experienced its worst trading day since July on Thursday, as the European Central Bank (ECB) signaled the potential end of its rate hike cycle. The pair is set to close in the red for the ninth consecutive week, falling into the sub-1.0640 region, marking a six-month low for the Euro against the
© Reuters. Investing.com– Most Asian currencies rose on Friday as more stimulus measures and positive economic readings from China helped boost risk appetite, while the dollar traded near six-month highs. China announced another cut to its reserve requirements for local banks, unlocking more liquidity to support a slowing economic recovery. and data also read higher
© Reuters. Investing.com – The U.S. dollar edged lower in early European trade Thursday after U.S. inflation release, while the euro climbed from recent lows ahead of the European Central Bank’s eagerly-awaited rate-setting meeting. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1%
© Reuters. The People’s Bank of China (PBOC) plans to issue a larger batch of bills in an effort to stabilize the weakening yuan, according to state media Financial News on Thursday. This move follows the central bank’s announcement of ramping up bill sales in Hong Kong next week. The PBOC intends to sell CNY
In a significant move aimed at bolstering the lira, Turkey has increased the cost for banks to provide short-term deposits, a policy change that forms part of a $124 billion government-backed lira savings program. The new regulation was issued by the central bank and published in the Official Gazette on Thursday. Under this new rule,
© Reuters. Investing.com– Most Asian currencies kept to a tight range on Thursday, while the dollar edged lower as markets weighed stronger-than-expected inflation data against expectations that the Federal Reserve will keep rates unchanged next week. Data on Wednesday showed that U.S. grew slightly more than expected in August, amid rising fuel costs and steady
