Latest in Tag: currency Highlight

Latest in Tag: currency

IMF warns that currency devaluations will not fix a country’s economic problems

Monetary easing can help stimulate domestic demand, which in turn benefits other countries by increasing demand for their goods. The concern, however, is that monetary easing also weakens a country’s exchange rate, making exports more competitive and reducing demand for other countries’ imports as they become more expensive—a phenomenon known as expenditure switching

Gustavo Adler

EU fines major banks 1 billion euros over 'currency cartels'

Regulators in the European Union have levied a hefty fine on Barclays, Royal Bank of Scotland, Citigroup, JPMorgan and Japan’s MUFG over collusion in currency trading.The Commission fined the banks for taking part in two separate cartels, the "Forex – Three Way Banana Split, and the "Forex-Essex Express" cartels. The cartels involved 11 currencies, including …

Deutsche Welle

Issued currency up EGP 17bn

Total currency issued by the Central Bank of Egypt (CBE) amounted to EGP 462.855bn by the end of August 2017, compared to about EGP 445.898bn in July 2017, an increase of about EGP 17bn. According to the CBE, the issued currency to gross domestic product (GDP) ratio was 11.36% in August, compared to 10.95% in …

Daily News Egypt

Egyptian businesses feel squeeze after currency flotation: report

The Egyptian private sector is feeling the squeeze after the currency flotation on higher inflation rates and a 700 bps interest rate hike, according to a recent report published by The Financial Times newspaper. “Despite making Egypt an attractive destination to some foreign investors, the combination of the float, inflation, and the hikes have driven …

Daily News Egypt

Small currency, big worries: Iceland’s volatile króna

What happens when a small country with its own currency has to navigate economically in a world dominated by huge countries with enormous banking systems and deep-pocketed financial speculators?It turns out that such countries are highly vulnerable to large, erratic swings in currency value – and those swings can cause serious economic damage. Iceland provides …

Deutsche Welle

US see stronger yuan as ‘key’ to China’s success

The US Treasury has soften its long-time stance that China’s currency is significantly undervalued, but said an appreciation of the yuan was crucial for a successful transition of China’s current economic model. In a semi-annual report to the US Congress released on Monday, the Treasury Department changed its wording on China’s currency, describing the value …

Deutsche Welle

Ruble follows oil price down

Russia’s currency has dropped considerably along with the price of crude oil. It’s a reminder of the Russian economy’s extraordinary level of dependency on fossil fuel exports, pundits says. Foreign exchange traders in Moscow on Monday saw the ruble sink 2.3 percent to a new low for the year. At one point during the day’s …

Deutsche Welle

IMF hesitant to add yuan to its reserve currency basket

The International Monetary Fund has said there will be no quick decision as to whether it may include the Chinese yuan in its strategic basket of reserve currencies. The renminbi struggles to meet key financial norms. The IMF hinted it needed to do “significant work” in reviewing the inclusion of China’s national currency in its …

Deutsche Welle