China’s central bank (CB) will use foreign exchange intervention and monetary policy tools to stop the yuan weakening past the key 7-per-dollar level in the near-term, three people familiar with the central bank’s thinking said. “At present, rest assured they will certainly not let it break 7,” a source told Reuters.
Turkish state banks sold more than $1 billion, sources said, helping the lira to firm more than 2 per cent at one stage and stem declines triggered by a decision this week to re-run Istanbul’s mayoral election. The lira traded at 6.0975 at 1315 GMT, up from Thursday’s close of 6.1935. The currency rose to 6.0515 against the US dollar in overnight Asia trade.
Europe's share markets struggled on Thursday and the dollar and bond yields trimmed overnight gains made after the US Federal Reserve dampened bets that it might be readying its first interest rate cut in years. Oil and metals markets added to the pressure on stocks as traders knocked copper to a 2-1/2 month low
The Indian rupee will trade between Rs 79.50-Rs 80.50 against the US dollar next week, a senior official of LKP Securities said on Friday. On Friday during the early trade,
The Pakistani rupee on Monday plunged to an all-time low of 215 against the US dollar in the interbank trade, according to the Exchange Companies Association of Pakistan (ECAP)
The Pakistani rupee dived to an historic low against the US dollar on Thursday after an exchange cap was lifted as Islamabad campaigns to unlock a vital bailout from the IMF.
Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets,
Pakistan’s central bank raised its key interest rate by 300 basis points on Thursday, exceeding investor expectations, as the country attempts to encourage
Oil prices surged on Monday after Saudi Arabia and other Opec+ producers announced a surprise cut in their output target, a move that rippled through stock markets,