The Bank of Japan’s money market data indicated on Thursday that a mysterious spike in the yen rate against the dollar on Tuesday was likely not the product of official Japanese intervention. The central bank’s projection for Friday’s money market conditions indicated a 1.09 trillion yen ($7.32 billion) net receipt of funds, not far from […]
South Africa’s central bank Governor Lesetja Kganyago said on Thursday that the bank would not step in to protect the local currency despite its current weakness and that the rand was caught up in a realignment of global currencies. Kganyago told a webinar that the bank was only concerned about the currency to the extent […]
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 […]
