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 […]
The Japanese yen fell sharply on Friday after the Bank of Japan (BOJ) decided to keep interest rates in negative territory at -0.1 percent. This decision came just days after the Federal Reserve signaled that U.S. borrowing costs would remain high, exerting pressure on the Japanese currency and raising the possibility of government intervention. The […]
New Zealand banks on Friday said they would introduce new steps to counter scams targeted at its customers including establishing a national Anti-Scam centre, combining resources to combat money laundering and increasing public awareness. Roger Beaumont, chief executive of the New Zealand Banking Association, which represents all large banks based in New Zealand, said in […]
