Iran’s rial currency sank to a record low against the U.S. dollar on Saturday despite central bank measures aimed at cooling demand for foreign currency from savers worried about inflation and the country’s economic prospects. The rial was trading at 575,000 on the unofficial free market against the dollar, compared to 540,000 on Friday, according […]
The dollar hit a six-week high against the yen and recovered from a roughly two-week low against a basket of major currencies on Tuesday as data for January showing the smallest annual increase in U.S. consumer prices since October 2021 did not alter market expectations that interest rates will remain elevated for some time. The […]
The Canadian dollar is set to rise later this year as the global economic outlook turns more favorable for commodity-linked currencies and investors bet central banks will cut interest rates in 2024, according to a Reuters poll released on Wednesday. In three months, however, the loonie is set be little changed at 1.34 per U.S. […]
Nigeria’s Supreme Court restrained the government, through the central bank, from ending the legal tender status of old banknotes on Friday following moves to replace them with newly designed notes. The ruling came shortly after the International Monetary Fund said Nigeria should consider extending its deadline to swap old banknotes because of the disruption to […]
The Japanese yen fell to an over three-week low against the dollar on Monday after a report said that Bank of Japan Deputy Governor Masayoshi Amamiya – who is a proponent of ultra-loose monetary policy – will take over as the bank’s governor. The Nikkei newspaper reported that government sources said Amamiya was in consideration to replace […]
The dollar was at its lowest level in over nine months in early European trading on Thursday, after the Federal Reserve’s latest interest rate decisions and guidance brought the end of the current policy tightening cycle into view. Fed Chair Jerome Powell told his press conference that “the disinflationary process has started,” although he added […]
