The maturity of the Reserve Bank of India’s (RBI) $5 billion swap has led to an increased demand for cash dollars and a significant drop in the overnight swap rate. The swap, initiated in April 2022, was designed to provide dollar liquidity to banks, a measure now being phased out,…

The British Pound (GBP) is outperforming as the strongest major currency with the Australian Dollar (AUD) lagging, while the U.S. Dollar (USD) exhibits mixed performance. This comes as U.S. bond yields rise, reflecting market expectations for sustained high-interest rates driven by a robust U.S. economy. The Federal Reserve Chair has…

By Vidya Ranganathan and Alun John SINGAPORE (Reuters) – Japan’s yen weakened briefly on Monday to the 150-per-dollar level, as elevated U.S. Treasury yields kept the dollar supported across the board but without pushing it too much higher. Investors are waiting for several events this week, including the European Central…

By Jorge Otaola and Walter Bianchi BUENOS AIRES (Reuters) – A surprise first place for Argentina’s ruling Peronists in a general election on Sunday could calm market fears about a runaway win for libertarian radical Javier Milei who has pledged to dollarize the economy and shut the central bank. Peronist…

By Jorge Otaola BUENOS AIRES (Reuters) – Argentina’s government intervened in the foreign exchange market on Thursday to tamp down volatility ahead of the country’s general elections on Sunday, while officials said there would be no sharp currency devaluation after the vote. In the black market, where dollars sell for…

The Central Bank of Russia has indicated that the upcoming launch of its central bank digital currency (CBDC), the digital ruble, is not expected to eclipse other non-cash and cash payment methods. Alla Bakina, director of the bank’s national payment system department, shared this perspective during a webinar reported by…

(Corrects to add dropped word ‘the’ in paragraph 1) By Marc Jones LONDON (Reuters) -A milestone move by the European Central Bank toward launching a digital euro within a few years means the time has come for the newest incarnation of money to prove its worth. A few countries have…

The experienced a 0.33% decrease on Thursday, October 19, 2023, following Federal Reserve Chair Powell’s indication of maintaining interest rates steady at the forthcoming Federal Open Market Committee (FOMC) meeting and his cautious stance towards additional policy firming. This decline was mitigated by the 10-year Treasury note yield reaching a…

ABUJA (Reuters) -Nigeria’s naira hit a record low of 980 per dollar on the official market on Tuesday, Refinitiv data showed, mirroring weakness on the parallel market, as persistent dollar shortages plague the currency market. The currency slid pass 1,000 naira per dollar on the parallel market last month and…

The UK’s Office for National Statistics is scheduled to release the Consumer Price Index (CPI) data for September on Wednesday. The data, which is expected to show a decrease in headline and core annual inflation but remain above 6%, could potentially influence the Bank of England’s (BoE) policy direction and…