Sri Lanka imposed electricity rationing Friday with the main power utility unable to buy fuel oil for its power stations as a result of the island’s worsening dollar crisis. Oil normally accounts for around nine percent of electricity generation on the island, but a Ceylon Electricity Board (CEB) official said the company had run out …
Sri Lanka Rations Electricity As Dollar Crisis Worsens Read More »
Brokerage firm ICICI Direct said that unlike 2013 when the rupee had depreciated drastically after the U.S. Fed announced monetary tightening, India currently holds the fourth largest forex reserve and surplus BOP. In the light of abundant foreign exchange reserves and strong performance of rupee vis-a-vis its global peers, rupee’s depreciation beyond Rs 78 per …
Equity markets turned lower Wednesday while the dollar and pound strengthened as inflation concerns continued to fan expectations that central banks will be forced to tighten monetary policy quicker than expected. New York’s three main indexes rose again after data showed a forecast-busting rise in retail sales as well as solid earnings from shopping giants …
Stock Markets Down, Dollar And Pound Rise As Inflation Surges Read More »
FILE PHOTO: U.S. one dollar banknotes are seen in this illustration taken February 8, 2021. REUTERS/Dado Ruvic/Illustration April 12, 2021 By Tommy Wilkes LONDON (Reuters) – The dollar gained ground on Monday after last week’s drop as traders assessed the outlook for Treasury yields, while awaiting crucial U.S. inflation and retail sales data in coming …
Dollar bounces higher as traders brace for inflation data Read More »
FILE PHOTO: An employee counts U.S. dollar bills at a money exchange in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany./File Photo April 9, 2021 By Saqib Iqbal Ahmed and Iain Withers NEW YORK (Reuters) – The dollar edged higher against a basket of currencies on Friday, paring some of the week’s losses, …
Dollar edges up as inflation data helps lift Treasury yields Read More »
As central banks, including the Federal Reserve, are looking into implementing their own digital currencies, a Republican lawmaker warned of a key risk associated with their adoption, namely whether they could be exploited to curb civil liberties. Nations across the world are mulling developing central bank digital currencies (CBDC) to modernize their financial systems, ward …
GOP Lawmaker Urges Architects of Digital Dollar to Consider Risks to Civil Liberties Read More »
FILE PHOTO: Crude oil is dispensed into a bottle in this illustration photo June 1, 2017. REUTERS/Thomas White/Illustration March 18, 2021 By Julia Payne LONDON (Reuters) – Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the …
Oil falls over 3% as dollar rises and vaccine rollout stalls Read More »
FILE PHOTO: Federal Reserve Chair Jerome Powell (L) and former Treasury Secretary Steven Mnuchin prepare to speak during a House Financial Services Committee hearing on “Oversight of the Treasury Department’s and Federal Reserve’s Pandemic Response” in the Rayburn House Office Building in Washington, U.S., December 2, 2020. Jim Lo Scalzo/Pool via REUTERS/File Photo February …
Fed’s Powell: Digital dollar may require some congressional approval Read More »
A U.S. Dollar banknote is seen in this illustration taken May 26, 2020. REUTERS/Dado Ruvic/Illustration February 23, 2021 By David Henry and Julien Ponthus NEW YORK/LONDON (Reuters) – The U.S. dollar resumed its slide against major currencies and reached multi-year lows against the British pound and the Australian dollar on Monday, as traders focused on …
Dollar slips on improving European, U.K. economic outlooks, commodities bounce Read More »
FILE PHOTO: U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won February 10, 2021 By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar dropped to two-week lows on Wednesday in choppy trading, led by losses against sterling and the euro, weighed down by U.S. data …
Dollar slides to two-week low as tame inflation, U.S. yields weigh Read More »
