Iraq will ban cash withdrawals and transactions in U.S dollars as of Jan. 1 2024 in the latest push to curb the misuse of its hard currency reserves in financial crimes and the evasion of U.S. sanctions on Iran, a top Iraqi central bank official said. The move aims to stamp out the illicit use […]
In a significant development for the Indian economy, Finance Minister Nirmala Sitharaman announced on Thursday that the country has been included in JP Morgan’s Government Bond Index-Emerging Markets (GBI-EM) from June 28, 2023. This inclusion is expected to stimulate a substantial $23 billion forex inflow. The minister revealed that 23 Indian bonds under the Fully […]
In recent days, Goldman Sachs has been closely observing the erratic behavior of the USD/JPY currency pair, which has been characterized by abrupt fluctuations. The Japanese Yen (JPY) has been steadily depreciating against the US Dollar (USD) since the end of July, a trend that took a sudden turn on Tuesday when the pair spiked near 150 […]
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. […]
