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Currency convertibility
Too much ‘unusual’ power vested in BPNG governor – The National
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…
(LEAD) South Korea aims to submit candidacy to join CPTPP during finance minister Moon presidency
(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…
Central Bank sells $ 372 million in November to defend rupee
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!-->…
Five decades of meteoric rise to growth
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…
Sri Lankan business leaders bemoan currency shortage amid printing money
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.…
Hours of Buenos Aires | 2001 to 2021: time bomb
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…
More Sri Lankans switch to hawala as money printing drives parallel exchange rates
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.…
BQ Learning: Understanding the Convertibility of the Capital Account
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…
Paperwork costs Zim 100 MW… IPP funding agreements risk being canceled
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…
IMF warns against adoption of Bitcoin by El Salvador
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 partners with India, Singapore and Hong Kong to develop CBCD – Blockchain News, Opinion,…
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…
Nigeria in 1min: Economic, Commercial and Financial News
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 monetary and fiscal challenges of cryptocurrency
The ongoing technological revolution means that âdigital moneyâ - a manifestation of which is cryptocurrencies - is upon us. Microeconomic tradeoffs are well known and have been debated. Digital…
Asian currencies remain tightly controlled
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…
Digital euro should be attractive but not ‘too successful’, says ECB’s Panetta
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…
How to get China and Taiwan to get CPTPP admission
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…
(2nd LD) South Korea will press for developed market status MSCI: Minister
(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…
A brake on the dollar counted with liquidation and more money from the IMF to strengthen reserves:…
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"…
Business News | Stock market and stock market news
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The redesigned supply chain strategy
The redesigned supply chain strategy
Pandemic is forcing managers to rethink their approaches and invest more in digitalization, Citi report says…
The City of the Giveaway turns out to be a Giveaway as it attracts foreign investment to India…
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…
Sri Lanka prints 19 billion rupees despite lifting of Treasury bill price controls
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…
Sri Lanka CB expects drop in remittances to reverse trend from October
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…
Banks must be ready for a fully convertible capital account: RBI Dy Governor
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…
Sri Lankan rupee’s unreliable peg at 203 per dollar leads to dollar rationing and rates rise
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…
Webtel.mobi clarifies the differences between its TUV
NEW YORK and ST PETER PORT, Guernsey, October 08, 2021 (GLOBE NEWSWIRE) - In response to several inquiries received by Webtel.mobi (âWMâ) regarding its digital currency TUV and its relationship to…
The US dollar remains dominant
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…
BIS explains how Stablecoins could meet international monetary standards
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…
New Zealand is considering a switch to digital currency
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…
View: Let’s be less cryptic with cryptocurrency
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…
Why the “Tobin tax” makes sense in today’s world
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 exploits BTC with volcanic energy: is it the answer to environmental problems related to…
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…
Comment: Keith Weiner – What Nixon did that still haunts us (hint: not the Watergate)
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…
A look at PKT Cash Crypto
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…
Senate body passes “Special Technology Zones Authority Bill, 2021” – Pakistan
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…
Professor Maureen Heffern Ponicki highlights importance of social connections during Hispanic…
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…
Balance of payments and exchange rate
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…
The time for central bank digital currencies has come
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…
Cryptocurrency In India: RBI’s Ex-Guv Subbarao Explains Why RBI Is Worried About…
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…
Sri Lanka set to post highest balance of payments deficit on record this year – Business News
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!-->…
NYPPEX issues China private equity investment risk warning
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…
Economic crisis in Lebanon: Currency Board would stabilize the economy
(johan10 / Getty Images)
A currency board would stabilize the Lebanese economy.
Aclose Thirteen months in limbo, Lebanon finally formed a government on…
Economy contradicts democracy: Russian markets explode amid political sabotage
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…
What did Nixon do 50 years ago that still haunts us today? This is not the Watergate –…
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…
A new strategy for Ukraine
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…
Russia, China and EU push for de-dollarization: will India follow suit?
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…
IFSCA in the process of creating an International Arbitration Center at GIFT IFSC
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…
If the post-1971 monetary system is bad, why isn’t gold higher?
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,…
50 years since the closing of the “golden window” (part II) – Oped – Eurasia Review
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…
Are cryptocurrencies interconvertible? Looked
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…
CBDC launches unlikely to condemn dollar dominance
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…
ESG statements by investment firms could do more harm than good
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!--
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Sprott Gold Talk Radio looks back at the end of Bretton Woods
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…
Rise in stable coins echoes Bretton Woods
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…
RBI’s model on India’s digital currency could be released by end of 2021
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…
Examining the Impact of Exchange Rate Volatility in Nigeria
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…
Economic development and post-COVID recovery
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…
“You will have a perfect and fair measure”
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.
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The 50th anniversary of…