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 […]
The Pakistani rupee weakened by 1.2% on Wednesday after foreign exchange companies removed a cap on the currency, saying it caused “artificial” distortions for an economy in desperate need of International Monetary Fund help. The move towards a market-based exchange rate should please the IMF, as that is one of the conditions that the multilateral […]
Venezuela’s down-at-the-heel bolivar currency fell to 20 per dollar, according to official data for Wednesday, complicating attempts by the government of President Nicolas Maduro to control inflation. The bolivar has depreciated 14% this month, said analysts, who have estimated that the economy could return to hyperinflation this year amid incipient economic growth. Consumer prices were […]
