Turkey’s lira weakened to a fresh record low of 18.9620 against the dollar on Thursday, as investors weigh the economic impact of massive earthquakes that hit the country last month. Presidential and parliamentary elections scheduled for May 14 are adding to uncertainty. They will determine whether Turkey continues with unorthodox policies under President Tayyip Erdogan or […]
The greenback slipped against a basket of currencies on Monday as investors awaited testimony by Federal Reserve Chair Jerome Powell and jobs data due later this week for further indications on how much higher the U.S. central bank is likely to raise interest rates. Powell’s testimony before Congress on Tuesday and Wednesday and Friday’s jobs […]
Sri Lanka will relax its currency band from next week, its central bank said on Friday, as part of efforts to move towards a market-determined exchange rate as it seeks to secure a $2.9 billion bailout from the International Monetary Fund. The central bank also raised interest rates by 100 basis points to tackle inflation […]
Australia’s central bank is launching 14 pilot projects with the financial industry to develop real world applications for a digital Australian dollar, with the focus on business use rather than a new public means of exchange. The Reserve Bank of Australia (RBA) said proposed uses for a central bank digital currency (CBDC) included offline payments, […]
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 […]
