Currency convertibility

is the world order moving towards multiple currency systems? Whispers about finding an alternative payment method have recently intensified after Western countries, led by…

On August 4, 2022, the Cuban state began buying foreign currencies from nationals and foreigners. On the 23rd of the same month, the official sale of dollars in cash to the population started, but not in freely convertible currency (FCC).…

The new International Monetary Fund (IMF) report on regional economic outlook for sub-Saharan Africa presented recently indicates that Nigeria could spend 100% of its income on debt service by 2026. The country currently spends 89%!-->…

ECONOMYNEXT - Several European countries have relaxed travel advisories issued for Sri Lanka effective Friday August 26, Tourism Minister Harin Fernando said. France, Switzerland, Norway and the UK have relaxed…

Bangladesh should reduce its overreliance on the U.S. dollar and increase the use of other currencies such as the Chinese renminbi (RMB) in international trade to ease pressure on the foreign exchange market, the companies said. .…

Earlier this year, Chamber VIII of the National Labor Court declared, in the case “Incidente de Recurso de Queja, Espinoza, Cristian Omar c. Club Atlético Huracan s. despite s. incidente de recurso de queja", that if an employee's wages…

The Reserve Bank of India (RBI) creates a new set of arrangements to enable businesses to settle foreign trade in rupees. This means that, to use an obvious example, Russian and Indian organizations can exchange goods and services…

Let's say this without euphemisms: Inflation is a deadly disease, But not only because it reduces the purchasing power of workers and plunges the most vulnerable into poverty, but above all because disrupts the functioning of the value…

The Reserve Bank of India (RBI) has launched measures to promote the rupee as the preferred currency for international trade settlement which will boost exports, Finance Minister Nirmala Sitharaman said on Monday. On July 11, the central…

On Aug. 5, Hong Kong's central bank bought the largest amount of its currency in one day since May 12 — HK$14.161 billion (about $1.80 billion) — to keep it from weakening. further and break its peg to the US dollar. On July 28, after the…

By Subrata MajumderThe RBI's decision to allow the convertible rupee for export and import is a precursor to making the rupee an international currency. Although convertibility is limited to the!-->!-->!-->!-->…

difference of wholesale inflation, As measured by INDEC, it was 1843% since the end of 2001, not counting the months of November and December 2015, for which no information has been published. The rest includes the inflation that…

Despite being the world's second largest importer and consumer of gold for many years, with an annual import of 700-900 tonnes valued at $35-40 billion, India is not the one setting the prices, but only the one who takes the prices. Gold…

ECONOMYNEXT- Fitch Ratings said it was maintaining a negative watch on Sri Lanka's DFCC bank amid a currency crisis that has triggered dollar shortages and sovereign default as bad debts surge. The Rating Watch…

The decision of the Reserve Bank of India (RBI) to allow the rupee in world trade is a precursor to making it an international currency. The RBI said the move was to "support growing interest from global trading companies". Although…

Costa Mesa, Calif. - In a career spanning nearly six decades, including public service under five U.S. presidents, Paul A. Volcker, Jr. worked for private and public companies as an esteemed…

The outbreak of the Covid-19 pandemic and the emergence of geopolitical conflicts as well as international economic competition have all strained the global financial sector, and Hong Kong's financial system is facing complex…

ECONOMYNEXT - Sri Lanka's upcoming parliamentary election for an interim president has effectively become a two-horse race with two strong candidates emerging after opposition leader Sajith Premadasa's…

ECONOMYNEXT - Sri Lanka will have to manage imports with available inflows instead of relying on bridge financing, central bank governor Nandalal Weerasinghe said, as rising interest rates and slowing private…

It is a widely but seldom acknowledged truth that a heavy…

The exporters said the move was a step towards accepting the rupee as an international currency. TopicsRBI | exporters | Rupee!-->…

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BY MTHANDAZO NYONIZIMBABWE, which has experienced acute episodes of hyperinflation and exchange rate instability for at least two decades, should adopt a currency board to curb both vices, said Leon Africa founder Tinashe Murapata. The…

Nigeria's liquefied natural gas company, NLNG, has said it plans to boost Nigeria's gas production by looking at supply, infrastructure, as well as the business or economic framework needed to approach the construction of gas…

Dubai: a fluctuating currency? These are just the changes in the value of one currency against another. If a US dollar is worth one value in your home country's currency today and then another value tomorrow, how does that…

“Over the past two years, for example, the money supply in the United States has increased by more than 38% to around $6 trillion, an increase that typically took decades to achieve. So a combination of unsecured money supply from the…

Moody's Investors Service (“Moody's”) today affirmed the Aaa long-term and senior unsecured issuer ratings from the United States of America (US) government. The outlook remains stable. The rating affirmation is driven by Moody's view…

Even without the biggest hotel on the island for perhaps the next 24 months and lingering concerns over “national” debt, a major rating agency has endorsed Bermuda as our future prospects.In fact, Moody's Investors Service cited the!-->…

One of the factors that have hampered intra-African trade and kept it at its embarrassing level is the difficulties faced by the parties involved in such trade relations. Foremost among these are the challenges faced by business people…

Saudi Arabia - The Arab Petroleum Investments Corporation (APICORP), the region's only energy-focused multilateral financial institution, has launched an A/B lending structure aimed at encouraging international debt financing in its member…

The Economic and social orientations opened this new stage of economic reforms 11 long years ago. Later, the approval of the Conceptualization and the National Economic and Social Development Plan became another point of reference.…

ECONOMYNEXT - Sri Lanka plans to issue a fuel 'quota' from July 2022 after customers register, Energy Minister Kanchana Ratwatte has said, as foreign exchange shortages persist after the failure of a floating…

No less than 12 of the 20 Frente de Todos ministers who were sworn in 30 months ago yesterday are now gone and yet none of these twelve changes make the wheels seem to have deteriorated more than the loud expulsion of the weekend -end of…

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the herald Africa Moyo at VICTORIA FALLS ZIMBABWEENS need to cherish the partial dollarization that is in place and stop dreaming of full dollarization, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya said yesterday. Speaking…

Placeholder while loading article actionsMonday evening, the co-founder and ex-CEO of Twitter tweeted the question "When did the dollar lose its status as the world's reserve currency?" Like many other people who study political economy, I…

Polarization is the norm in Argentina and elsewhere. Joaquin Temes At 58%, Argentina's annualized inflation rate has now reached figures not seen since the early 1990s, when then-President Carlos Menem and Economy…

Moody's Investors Service (“Moody's”) has affirmed the Government of Kuwait's long-term local and foreign currency issuer rating at A1. The outlook remains stable.The decision to affirm the ratings is supported by Moody's assessment that…

In a relatively uneventful week neatly bisected by the holiday celebrating the birth of the Argentine nation, the biggest splash of news was (until our press time at least) the resignation of the Secretary of Commerce inside Roberto…

On the face of it, the Central Bank of Russia is winning the currency war to defend the ruble against the effects of Western sanctions. Immediately after the Russian invasion of Ukraine and the imposition of the first batch of brutal and…

Filographer/E+ via Getty Images If you think back to previous bear markets in equities since the United States abandoned the official convertibility of paper dollars into gold in the early 1970s, gold has always been a great protector of…

Like him bureaucracy as the opposition they cling to an expectation: when the PASOs arrive, they will be able to relegitimize their leadership, and then they will be able to overcome the current fragmentation and dispersion. Until then,…

When a currency's survival depends on promises to do "whatever it takes" to defend its dollar peg, one would expect the person making the promise to be a senior government official or from a central bank – not a chief technology…

INDEPENDENT power producers (IPPs) have been urged to enter into power purchase agreements with local exporters as such contracts are more cost effective, an official said. Currently, electric utility Zesa Holdings remains the main…

An $18 billion algorithmic stablecoin loses its peg – a story of how Terra Luna and its stablecoin, UST, came crashing down How is this size even possible? After all, $18 billion is more than…

Berkshires workers, like the men who replaced some of our home's siding during the summer of 2021, drive…

Yaoundé, Cameroon — The Bank of Central African States (BEAC), headquartered in Cameroon, has urged the Central African Republic (CAR) to rescind a law it passed in late April that made the cryptocurrency legal tender. Bitcoin. The bank…

the herald business journalist TEN possible sites for solar power plants, with a potential output of 500 megawatts, have been identified, a senior official said, with the government now working on guarantee mechanisms with creditworthy…

May 3, 2022 | Press Releases…

For decades, physical investors in gold have had to contend with superficial, naïve and totally ahistorical “arguments” from the mainstream financial press, economists and pundits of all persuasions that gold is not nothing but a barbaric…

Running one of these programs designed to detect plagiarism, I performed an analysis of my own writings over the past 25 years. An idea pops up more frequently than I would have first thought. This is embodied in a phrase I used in…

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On Wednesday, Russian President Vladimir Putin escalated the geo-economic war between his country and the West by suspending gas supplies to Poland and Bulgaria, citing the two countries' refusal to pay in Russian rubles. This decision,…

WEB OFFICE In a bid to develop and regulate financial products and services, the government-controlled International Financial Services Centers Authority (IFSCA) on April 27 issued a framework for fintech entities in the fields…

ECONOMYNEXT - Standard and Poor's, a rating agency, said it had downgraded Sri Lanka's sovereign rating to "selective default", a bond coupon payment was missed on US$1.25 billion of sovereign bonds. Individual…

ECONOMYNEXT – The Washington-based International Monetary Fund has welcomed Sri Lanka's planned negotiations with creditors after the island suspended repayments and said initial talks with a team led by Finance…

The economic shutdowns, rising inflation and turbulent markets of the past two years have caused many to question the economic systems that have prevailed in the West. No topic characterizes!-->…

ECONOMYNEXT - Sri Lanka has experienced 7 years of stagnation triggering three currency crises under "flexible" inflation targeting, a failed attempt to implement a domestically-anchored monetary policy despite a…

Text size A trader on the New York Stock Exchange.…

High energy prices and continued purchases of Russian gas and oil in the first quarter of 2022 allowed Russia to post the highest current account surplus in recent history, indicating that the sanctions of the EU against…

— Online MRI…

in today Money Morning…Russia bets on gold, breaks with petrodollar…renewable energy decreases the need for the petrodollar…and more… “The economic law that honest exchange requires only things of real value like money cannot be abrogated.…

IMF First Deputy Managing Director Gita Gopinath said Western restrictions and sanctions imposed on Russia to deprive the country of the global financial market and foreign currency reserves could wither the current global monetary system.…

The West's actions against Russia since the war in Ukraine could signal the emergence of a new order that avoids the United States for militarizing the dollar and Western control over the global financial system.by Prabir PurkayasthaDoes…

THE specter of “stagflation” threatens the world again. This time, the risk is the direct consequence of political provocations and war, and not simply because of inexorable economic forces. Stagflation?…

ECONOMYNEXT - Sri Lanka should set up a currency board to halt further currency slides, US economist Steve Hanke has said as the island's currency plummeted from 203 to 290 to the US dollar in an attempt to float the…

The Swedish Riksbank, established in 1668 with a charter to lend funds to the government and act as a clearinghouse for commerce, is recognized as the world's first central bank. In 1694, the Bank of England was founded. In addition to…

The local Saudi market is experiencing growth in business activity and an increase in demand for food and consumer goods, informed sources told Asharq Al-Awsat.The surge in demand coincides with the advent of Islam's holy…

Econography March 18, 2022 • 11:06 a.m. ET Renmibi…

The US Dollar (USD)/Indian Rupee (INR) should be trading in a high zone, but ideally the 23-year average should not be above 76-78 for 1 USD, with an appreciation bias , according to a report by the State Bank of India's Economic Research…

THE conventional concept of warfare is the use of military weapons - tanks, artillery, air strikes, infantry, ships. Besides the possibility of nuclear weapons, however,…

With the growing awareness of gold investing, investors and the general public are increasingly interested in knowing more about the origins, history, gold standards, etc. precious metals to better understand the market and make informed…

International Women's Day has been celebrated on March 8 every year since 1977. This year's theme is: "Gender equality today for a sustainable future". We discuss nine female entrepreneurs who have found success in the crypto space on…

Putin's war Daniel Leal, AFP via Getty Images In just one week, Russian President Vladimir Putin has caused hundreds of deaths and wreaked havoc on the lives of millions. He also started the destruction of the…

The writer is an investment director at GAMThe implosion of Russian financial markets following the invasion of Ukraine is not the first crisis to hit emerging markets. It won't be the last either.Ever since emerging markets were…

Argentines, who abandoned “one-to-one” convertibility between their currency and the US dollar 20 years ago, live waiting for the price of this currency, respond inventively to multiple exchange restrictions and literally sleep on a…

The interest rate sets a floor for price increases. The level of the rate is one of those multiple causes which explain inflation and which has remained unscathed not only in economic policies, but even in public debate. Perhaps because…

the last payment to the IMF has put additional pressure on the reserves of the Central Bank. The same established economists and media who lobbied for the payout, then came out to encourage a run on the exchange and the bank with shocking…

The recently launched new Pan-African Payments and Settlement System aims to reduce cross-border payment fees and transaction delays across the continent, and eventually help businesses grow.WHETHER IT'S A WORKING MIGRANT TRANSFERRING MONEY…

In the second part of his critique of exchange controls in South Africa (part one), Dr Brian Benfield recalls that when the ANC took over power in 1994, one of its main objectives was to dismantle totally this apartheid protection tool. .…

By Manuel Tacanho* We live in an age of rampant inflation (monetary and price), more frequent economic crises, chronic deficit spending, unpayable debt and massive financial bubbles. It is not accidental. It is substantial. This fact…

Viktor KochetovCEO Kyrrex. Knowledge of traditional markets comes with experience in crypto. More and more people are interested in cryptocurrencies, an ever-growing asset and medium of exchange. As CEO of Kyrrex, allow me to share with…

Night injections in Sri Lanka exceed 600 billion rupees amid sterilized interventions ECONOMYNEXT - Sri Lanka's overnight liquidity injections into the banking system exceeded 600 billion rupees on 02 February, from…

In her 2022 budget speech on Tuesday, Finance Minister Nirmala Sitharaman announced that the Reserve Bank of India (RBI) would launch its own digital rupee in the new fiscal year. The digital rupee is a central bank digital currency (CBDC)…

India Inc has drawn up a list of demands for the 2022-23 budget to be presented by Finance Minister Nirmala Sitharaman on Tuesday. Ease of doing business, increased government spending, job creation incentive programs and a simplified…

Chakhawat Hossain | Published: January 25, 2022 9:18:01 PM Open economies can only transact with other countries, either by highway or by road. Transactions include the exchange of goods and services and investment financing…

Opinion Commentary by Chris Devonshire-Ellis - January 20, 2022 A rising Asia makes it difficult for Washington to continue to wield global influence The United States – and to some extent the world – is currently at a discernible…

As part of a series examining the first year of Biden's presidency, Harvard Law Today asked Christine A. Desan, Leo Gottlieb law professor and monetary policy and economics expert, to share her thoughts on the successes, failures and…

Hong Kong's future as a global financial center is less promising after China's authoritarian crackdown - to control the pandemic and civil liberties - led to an exodus of expatriate professionals from the…

In the process, the UAE and Saudi Arabia have rekindled the spotlight on a new trend sweeping the global financial industry and at the same time contributed to the learning quotient on CBDCs. They are part of a growing list of 90 countries…

A year later, negotiators for the African Continental Free Trade Area (AfCFTA) are making progress on the remaining crucial elements, in particular rules of origin. The official launch of free trade under the African Continental Free…

MUMBAI: The rupee hit a high for more than three months on Tuesday, regaining 73 levels. By the close of trade it had gained 13 paise to end at 73.91 against the US dollar. The last time the rupee closed around this level was at 73.84 on…

The 2007 book by Nassim Nicholas Taleb 'Black Swan' has been hailed by The Sunday Times as one of the twelve most influential books since World War II. However, his 6-page 2021 article titled "Bitcoin, currencies and fragility" deserves…

Free trade under the auspices of the African Continental Free Trade Area (AfCFTA) officially began in January 2021. A year later, several aspects of the trade pact are successfully implemented as negotiations are underway in other areas.…

U.S. Federal Reserve Chairman Jerome Powell testifies during a hearing on Capitol Hill in Washington, DC, the United States, December 1, 2020 (Photo: Xinhua) On December 15, US Federal Reserve Chairman Jerome Powell laid out plans to…

"Furious greed which, without any thought for the human race, hastens for its own benefit." So, Roman Emperor Diocletian described inflation in his edict of CE 301 setting maximum prices for over a thousand commodities.Without the help of…

ECONOMYNEXT - Sri Lanka's central bank treasury bill outstanding reached $ 1.9 trillion with overnight cash injections reaching Rs 451 billion, data shows amid a withdrawal from the festival and continuous…

Swadeshi Jagran Manch, an economic think tank affiliated with Rashtriya Swayamsevak Sangh (RSS), demanded that all permissions granted to multinational e-commerce giants, such as Amazon and Flipkart, be withdrawn and all their activities…

The law relating to the issuance of digital currency by the Reserve Bank of India should be framed "expeditiously" and the Central Bank's digital currency (CBDC) considered to be legal tender, said Swadeshi Jagran Manch (SJM) at the…

Alberto Fernandez and Martin Guzman in 2021, Fernando de la Rua and Domingo Cavallo in 2001. Joaquin Tèmes Twenty years have passed since Argentina imploded in what has been its worst social and…

The disappearance of cash is near. As consumers, however, we must hope that the end does not come too soon.It is not the pandemic that ends the existence of this popular payment method. All COVID-19 has done is accelerate a trend…

RIO DE JANEIRO, BRAZIL - Russia plans to introduce a prototype digital ruble issued by the central bank by January 2022, and freely tradable and uncontrollable cryptocurrencies such as Bitcoin and others are therefore undesirable. They…

The Independent Advisory Group was commissioned by the government to review PNG's 2000 Central Bank Act. It is chaired by Robert Igara, who is Chancellor of the University of Papua New Guinea and former Chief Secretary, when the Central…

(ATTN: ADD more details from paragraph 14, photo) SEOUL, Dec.15 (Yonhap) - Finance Minister Hong Nam-ki said on Wednesday that South Korea intends to submit an application to join an Asia-Pacific mega free trade agreement before the…

A record in recent years, which reflects the liquidity crisis in SL currencies currently in The rupee came under heavy pressure from June of this year, when expected inflows started to dry up. CB has a fixed exchange rate of!-->…

Asjadul Kibria | Posted: Dec. 11, 2021 10:08:07 p.m. Bangladesh is celebrating 50 years of independence and there are many events taking place in Victory Month, December to be precise, to mark the celebration. An important…

ECONOMYNEXT - Sri Lankan business leaders have said business activities have been disrupted by currency shortages from an unreliable 200-per-US dollar peg to which the central bank no longer offers full convertibility.…

Twenty years have passed since Argentina imploded in what has been its worst social and political crisis, at least in modern times. The besieged nation defaulted on a US $ 96 billion loan, failed to secure support from the United States…

ECONOMYNEXT - Sri Lankan migrant worker Sampath * is now determined to send his salary from Dubai to his family via hawala, a traditional net settlement system that has facilitated trade for centuries.…

How does this help?Essentially, it facilitates the flow of funds from capital-rich advanced economies to low-capital emerging market economies. By broadening the global investor base, capital account convertibility can help improve the…

MTHANDAZO NYONIAPPROXIMATELY eight renewable energy projects with a combined capacity of 100 megawatts (MW) failed due to Treasury delays in signing an independent power producer (IPP) implementation agreement, business summary heard…

By Elise Hansen (Nov 23, 2021, 4:26 p.m. EST) - El Salvador's recognition of Bitcoin as legal tender creates risks to consumer protection as well as the country's financial stability, and it should consider taking swift action to…

Peru's central bank president Julio Velarde said the country would join forces with India, Singapore and Hong Kong to develop its own central bank digital currency (CBDC). Peru has decided to partner with the central banks of these…

Monday 22 November 2021/6 a.m. / By News Aggregator / Header Image Credit: FA COVID-19 Health UpdatesNovember 20, 2021: Nigeria's COVID-19 Status in 36 States and the Federal Capital TerritoryConfirmed: 213,532 cases (New:…

The ongoing technological revolution means that “digital money” - a manifestation of which is cryptocurrencies - is upon us. Microeconomic tradeoffs are well known and have been debated. Digital…

The Central Bank of Uzbekistan's August decision to allow its currency to float was bold - its previous attempt to free the som in 2017 saw it fall 48% against the dollar in a single day. Fortunately for the job security of President of…

The digital euro should be an attractive means of payment, but its design should prevent it from becoming such a popular store of value that it threatens banks and private money, according to Fabio Panetta, a senior executive in the…

Ambassador Kurt Tong is a former American diplomat. He is a partner at Asia Group. After China's Sept. 16 request to join the Comprehensive and Progressive Agreement on Trans-Pacific Partnership (CPTPP), Washington faces the supreme irony…

(ATTN: UPDATES with more details in paragraphs 8, 10-12) LONDON / SEOUL, Nov. 02 (Yonhap) - South Korea plans to step up efforts to secure developed market status with Morgan Stanley Capital International (MSCI), the finance minister…