Foreign Exchange
ECB inflation efforts get political boost
A jump in US markets after the presidential election has led to a 3% drop in the euro against the dollar, aiding the European Central Bank in its efforts to boost growth and inflation. A […]
Weak currency puts Turkey’s interest rates on hold
Turkey’s interest rates are on hold because its central bank cited weakness in the currency. The lira hit a record low against the US dollar as investor concern grows about political uncertainty and hints that […]
China’s yuan plummets to 6-year low
China’s yuan fell 0.2% against the US dollar in Shanghai trading Thursday, taking it to its lowest level in six years after the People’s Bank of China made the biggest cut in the currency’s reference […]
China banks’ net forex sales fall to 1-year low in August
Foreign exchange transactions indicate that China is under less pressure from capital outflow than it was earlier in the year, the State Administration of Foreign Exchange said. Commercial banks sold 21.7 billion yuan worth of […]
Foreign exchange trading dropped by 29% in spot market
Foreign exchange trading worldwide totaled $5.1 trillion daily in April, down from $5.4 trillion in April 2013, while trading in the spot market dropped 29%, according to the Bank for International Settlements. “While there are […]
South Korea’s Regulator will work with banks to expand their services in online foreign currency exchange
South Korea’s Financial Supervisory Service will work with banks to expand their services in online foreign currency exchange to more than 40 currencies beginning in October. The currencies, including rarer ones such as Vietnam’s dong and […]
8 major financial institutions began beta testing of blockchain technology
A venture backed by eight major financial institutions has begun beta testing a peer-to-peer network that aims to use blockchain distributed ledger technology to slash billions off the cost of processing foreign exchange transactions. Fronted […]