Currency convertibility

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…

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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…

Bank of Canada says it's looking into digital currency (REUTERS / Blair Gable)As cryptocurrencies gain popularity, the CD Howe Institute said the Bank of Canada should issue a digital dollar to take advantage of advances in payments…

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…

Alexandre vanoli, the last head of the Central Bank in the leadership of Cristina Kirchner, estimated that the dollar counted with liquidation -which results from the sale of bonds to obtain foreign currency abroad- is "at panic levels"…

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The redesigned supply chain strategy Pandemic is forcing managers to rethink their approaches and invest more in digitalization, Citi report says…

GIFT City or The Gujarat Finance Tec-City serves as a global financial and technical center. It is ideally developed to build a globally recognized and integrated city with modern facilities. The aim is to create a healthy habitat that…

ECONOMYNEXT - Sri Lanka printed 19 billion rupees just after partially successful Treasury bill auctions during the week, as a banknote-issuing bank took the balance amid persistent external problems and related…

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ECONOMYNEXT - Sri Lanka's central bank expects the downward trend in foreign remittances to reverse from this month, as it believes that the release of US dollars for importers has stabilized the rate of changes and…

Reserve Bank of India (RBI) Deputy Governor T Rabi Shankar on Thursday said the country and its banks must be prepared to meet the challenges of full capital account convertibility as foreign investors fully access to the Indian…

ECONOMYNEXT - Sri Lanka's non-credible peg with the US dollar at 203 leads to dollar rationing, market participants said as monetary authority attempt to ration rupee production pushes market rates up , but has not yet…

NEW YORK and ST PETER PORT, Guernsey, October 08, 2021 (GLOBE NEWSWIRE) - In response to several inquiries received by Webtel.mobi (“WM”) regarding its digital currency TUV and its relationship to…

The US dollar will remain the dominant currency in the world despite the growing popularity of the Chinese yuan, analysts told the Manila Times.The chief economist of Rizal Commercial…

The Bank for International Settlements (BIS) states that stablecoin payment systems must comply with international standards for payment, clearing and settlement. A new report released on Wednesday by the BIS Committee on Payments and…

Watch Stablecoins in Middle-earth New Zealand's central bank is exploring the possibility of issuing a digital currency, saying the benefits it would bring include its potential use as a monetary policy tool. The central…

Do crypto boys know something we don't know? Bank after bank has blocked payments for cryptocurrency transactions. RBI has - first obliquely and, more recently, directly - expressed its suspicions about what it calls…

Investors, Wall Street executives and market makers in the United States have debated the impending introduction of a currency transaction tax, or "Tobin tax," in recent months, following statements to this topic from officials in the…

El Salvador officially mined the first bitcoin using volcanic energy, President Nayib Bukele has announced. Almost a quarter of El Salvador's electricity market is geothermal. Bukele shared a screenshot of…

On August 15, 1971, President Richard Nixon decreed that the US dollar would no longer be redeemable for gold owed, even to foreign governments. This bad decision was a desperate attempt to avoid the consequences of previous bad…

Source: thebitcoinnews.com The world is rapidly entering a digital phase and the application of technology can be seen in different sectors such as education, transport and finance. Gradually, money has moved from the physical currency…

ISLAMABAD: The Standing Senate Committee on Information Technology and Telecommunications on Tuesday unanimously adopted the "Special Technological Zones Authority Bill, 2021" under which an Authority would be set up to stimulate the…

In a research and insight sharing session from her time in Córdoba, Argentina, COD Professor Maureen Heffern Ponicki passed on many lessons that Argentina's history, people and culture can bring to states. -United. and COD…

Muhammad Mahmood | Posted: Sept. 25, 2021, 8:55 p.m. Behavioral links between balance of payments and exchange rates have long been recognized as early as the 14th century, when secondary markets emerged for bills of exchange…

A digital currency is like any other currency, money, or other monetary asset that is primarily managed, stored, or traded on a digital computer system, especially over the internet. They are different from printed banknotes or minted…

MUMBAI: The Reserve Bank of India (RBI) has repeatedly stated that it has "serious" and "major" concerns about cryptocurrencies without ever explaining what those concerns might be. The central bank's aversion to virtual currencies is…

Seven-month balance of payments deficit eclipses the deficit for 2020 as a whole Sri Lanka is on track to record its highest balance of payments (BOP) deficit on record in 2021, with the first 7-month deficit of foreign!-->…

NEW YORK, September 23, 2021 / PRNewswire / - NYPPEX, a leading global provider of private equity secondary liquidity, today issued a warning regarding the risk of investing in China private equity investments. NYPPEX believes that China…

WM's ICLM Transfers and TUV Digital Currency Transfers offer two fully operational and globally accessible alternatives to SWIFTST PETER PORT, Guernsey and NEW YORK, September 23, 2021 (GLOBE NEWSWIRE) - Global telephony provider…

(johan10 / Getty Images) A currency board would stabilize the Lebanese economy. Aclose Thirteen months in limbo, Lebanon finally formed a government on…

Authors: Divyanshu Jindal and Mehek Bhanu Marwaha * The USD (United States dollar) has been the dominant currency in the world since the end of World War II. The dollar has also been the most sought-after reserve…

On August 15, 1971, President Richard Nixon decreed that the US dollar would no longer be redeemable for gold owed, even to foreign governments. This bad decision was a desperate attempt to avoid the consequences of previous bad…

In the Brundtland Report, the United Nations defined sustainable development as development that meets current demands without compromising the ability of future generations to meet theirs. It is based on the assumption…

In the Brundtland Report, the United Nations defined sustainable development as development that meets current demands without compromising the ability of future generations to meet theirs. It is based on the assumption…

The International Financial Services Centers Authority (IFSCA) is setting up an international arbitration center within the IFSC GIFT for a swift resolution of any dispute, its president Injeti Srinivas said on Friday. The IFSCA…

Second, financial markets are big supporters of the current monetary systembecause they like the lax monetary policy and the liquidity drops of the central banks. Remember, the US stock market welcomed the closing of the window on gold,…

The lasting impact of the Nixon shock The economic and monetary consequences of Nixon's decision to end the convertibility of the US dollar into gold are as numerous as they are severe. It marked the start of five decades of monetary…

In India, crypto finance is a gray area and most companies prefer cash or e-commerceCryptocurrency is becoming more and more popular with each passing day. From young entrepreneurs to global business tycoons, all have been…

Mid-August marked the 50th anniversary of the 'Weekend that Changed the World' when US President Richard Nixon suspended dollar-to-gold convertibility at a fixed price and rang the curtain on the Bretton International…

For those who sell responsible investment funds, the pandemic has turned out to be a marketing giveaway. Covid was a 'sustainability' crisis that should focus investors' attention on the looming biggest climate change crisis, fund!-- >…

August 15the, 1971, Richard Nixon ended the Bretton Woods agreements by suspending the convertibility of the US dollar into gold. As the world passes the 50e anniversary of this historic event, Sprott Gold Talk Radio host Ed Coyne…

Cryptocurrency UpdatesSign up for myFT Daily Digest to be the first to know about cryptocurrency news. Ousmène Jacques Mandeng is director of the consultancy boutique Economics Advisory Ltd and visiting…

The Reserve Bank of India (RBI) said on Friday that it could release a central bank digital currency (CBDC) model as soon as the end of this year. Speaking at the post-monetary policy press conference, Deputy Governor T Rabi…

Friday, Aug 06, 2021 / 8:50 a.m. / By FDC Ltd / Header image credit: Nasdaq Exchange rate stability is a major macroeconomic indicator used to measure the performance of an economy. The Nigerian forex market has undergone significant…

Comprising many of Africa's poorest countries, the CFA franc zone faces particularly daunting economic development and growth challenges in the context of the ongoing COVID-19 pandemic. Encompassing 14 French-speaking West and…

Then begins a new series of columns marking the 50th anniversary of the collapse of the Bretton Woods gold standard established in the closing months of World War II. A related editorial appears nearby. * * * The 50th anniversary of…