In a recent development, the Bank of Japan (BoJ) is exercising restraint against premature tightening in Japan’s monetary ecosystem, as reported on Wednesday. This move comes amid warnings to traders about the potential pitfalls of aggressively shorting the Japanese Yen (JPY), considering possible interventions from the Ministry of Finance (MoF). The MoF has pledged to […]
The U.S. dollar held its position near a 10-month high against a basket of major currencies on Thursday. The dollar’s strength was buoyed by optimistic U.S. economic data and anticipatory remarks from Federal Reserve officials. The U.S. dollar index, which measures the greenback against other major currencies, hovered around 106.58 after hitting an overnight peak of […]
Pakistan’s rupee has gained 6.1% against the dollar so far in September, following an official clampdown on illegal foreign exchange trade in grey and black markets by security agencies. September’s gains have almost made up for all of the rupee’s losses in August and technically make it the best-perfoming currency in the world this month. […]
Most Asian stocks moved in a flat-to-low range on Friday, reeling from steep losses this week as hawkish central bank signals and rising yields battered sentiment, although a rebound in technology shares boosted Hong Kong’s Hang Seng. Regional stocks saw some relief on Friday as U.S. Treasury yields somewhat stalled in overnight trade, after racing […]
Developing national digital currencies are at risk due to a lack of legal powers to issue them in most of the world, the head of the global central bank umbrella body, the Bank for International Settlements, warned on Wednesday. While countries generally have laws on banknotes, coins and credit balances, an IMF paper in 2020 […]
The Gambia’s currency, the dalasi, continues to hold its position as Africa’s strongest currency this year, according to the central bank governor. The dalasi has appreciated by 0.9% against the U.S. dollar so far, outperforming 23 other African currencies monitored by financial analysts. The central bank attributes this strong performance to increased inflows from remittances […]
