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 […]
The US Federal Reserve’s decision to maintain interest rates at the 5.25%-5.50% range during its monetary policy meeting on Wednesday, September 20, 2023, has had global impacts. The Fed’s hawkish stance towards monetary policy, aimed at curbing inflation without causing significant job losses or economic downturns, has led to a strengthening of the dollar and […]
The dollar reached a 6.5-month peak on Thursday, September 21, 2023, after the U.S. Federal Reserve signaled a continuation of its restrictive policy, even as it held rates steady. This comes as the Swiss franc fell following the Swiss National Bank’s decision to maintain unchanged rates, marking the first time it has not increased rates […]
Mark Rosen, former U.S. representative to the International Monetary Fund (IMF), has endorsed the idea of Argentina adopting the U.S. dollar as its official currency to combat soaring inflation rates, a move that has been widely criticized by mainstream figures. Rosen, who served on the IMF’s executive board from 2019 to 2021, expressed his belief […]
