Local currencies – Kopa Runescape 2 Gold http://www.koparunescape2gold.com/ Mon, 27 Jun 2022 17:44:09 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.koparunescape2gold.com/wp-content/uploads/2021/07/kopa.png Local currencies – Kopa Runescape 2 Gold http://www.koparunescape2gold.com/ 32 32 Debt Crisis Threatens Developing Countries Amid ‘Perfect Storm’ | Business | Economic and financial news from a German perspective | DW https://www.koparunescape2gold.com/debt-crisis-threatens-developing-countries-amid-perfect-storm-business-economic-and-financial-news-from-a-german-perspective-dw/ Mon, 27 Jun 2022 16:38:34 +0000 https://www.koparunescape2gold.com/debt-crisis-threatens-developing-countries-amid-perfect-storm-business-economic-and-financial-news-from-a-german-perspective-dw/ When Ghana lost access to international credit markets late last year, it was a foreboding of the debt problems that awaited the developing world. The battle against COVID-19 has left governments vulnerable, burdening them with massive debts they incurred to cushion the economic blow of the pandemic. However, now that the main central banks are […]]]>

When Ghana lost access to international credit markets late last year, it was a foreboding of the debt problems that awaited the developing world. The battle against COVID-19 has left governments vulnerable, burdening them with massive debts they incurred to cushion the economic blow of the pandemic.

However, now that the main central banks are raising their interest rates, these debts could become difficult to repay.

Sri Lanka defaulted on its debt just weeks ago and Pakistan is trying to avoid a similar situation. In fact, more than half of low-income countries are currently at high risk of debt distress or are already in debt distress, according to the World Bank.

On Sunday, Russia defaulted on its foreign currency debt. But in this case, the reason was not a lack of reserves. On the contrary, Western sanctions imposed on Moscow during the war in Ukraine simply do not allow Western creditors to accept payments from Russia.

What is fueling the debt crisis in developing countries?

After the 2008 global financial crisis, central banks in industrialized countries cut interest rates and made financing cheap. For global investors in the US and Europe, this meant lower returns on domestic investments.

On the other side sat the governments of the countries of the South. They wanted to take advantage of ultra-low interest rates in the North by enticing investors with their higher-rated debt denominated in US dollars rather than local currency.

At the end of 2019, this pile of so-called external debt stood at $5.6 trillion (5.28 trillion euros) in emerging economies, according to a study by the Financial Stability Board. And as a result of the global pandemic, their sovereign debt in total saw the fastest annual increase in 2020 in the last three decades.

Experts have been warning for years that once interest rates start to rise in the United States, paying interest on all that dollar-denominated debt will become more expensive.

Now “we have several things coming together in a perfect storm,” says Nils Jensen, alluding to high food and energy prices, global economic uncertainty due to the Russian war and rising interest rates around the world as central banks attempt to contain inflation.

Jensen released a report for the United Nations Development Program (UNDP) in 2021 highlighting 12 countries particularly at risk of defaulting on their debt amid rising interest rates. Among them is Ghana, which saw soaring food prices push inflation to almost 30% in May. The Ghanaian currency cedi has fallen 22% against the US dollar this year.

Ghana’s debt problems

With the COVID-19 pandemic, the amount of debt taken on by the Ghanaian government to finance expenditure has tripled. In 2020, the government of this West African country had to use 45% of its revenue for interest payments, according to IMF data. In comparison, Germany spent only 1%.

Road traffic in Accra

Infrastructure projects in Ghana could suffer from budget cuts in the future

Ghana “has been trying to borrow money in foreign currencies and then using that money to pay off some of its domestic debt in hopes of reducing its debt servicing costs,” the economist said. jensen. But now, with interest rates rising in the United States, Ghana will have to pay a lot more to service its foreign currency debt.

In Ghana, infrastructure projects are already unfinished and spending on hospitals is low. Moreover, as global food prices rise, “the debt burden creates a problem for fertilizer subsidies,” says John Gatsi.

The University of Cape Coast business school professor told DW the looming debt crisis is making government services to the people “poorer and poorer”.

But the problem is even worse.

Private lenders dominate the current debt crisis

Unlike previous debt crises in the developing world, such as in Latin America in the 1980s, the current turmoil puts private lenders at the center of the turmoil.

For example, 57% of Ghana’s external debt payments go to private lenders rather than multilateral institutions such as the World Bank or the International Monetary Fund (IMF), according to Debt Justice, a nonprofit based United Kingdom. Private lenders are international investment banks, hedge funds and asset managers who seek to maximize portfolios on behalf of their investors.

For the group of 37 so-called heavily indebted poor (HIPC) countries, Jensen estimates that 50-60% of their debt is owed to private lenders.

The problem with this type of debt, Jensen said, is threefold: it is usually more expensive than debt negotiated between governments. It is much more difficult to renegotiate in the event of payment difficulties because there are many players involved and, above all, it is subject to price fluctuations.

Sri Lanka Debt Infographic

“When central banks in the North decide to raise interest rates, interest rates in international financial markets rise significantly,” Jensen said, which would prompt private lenders to demand higher interest payments. to their borrowers. “And that, of course, increases the debt service costs of countries.”

Is there a way out of the spiral of debt?

The solutions to the problem are always out of sight. After Zambia became the first country to default in November 2020 amid the spread of the coronavirus pandemic, the country entered into negotiations with the IMF. The Zambian government said at the time that it was confident of ending negotiations by September 2022. However, much of the country’s debt was held by private asset manager BlackRock, which did not showed no interest in renegotiating the debt.

Additionally, the Debt Service Suspension Initiative, put in place by the World Bank in May 2020, has had a very limited impact on the growing debt problem in the developing world. The multilateral approach only allowed the payment of the debt to be postponed to a later date, rather than easing the burden. The initiative expired at the end of 2021.

Nils Jensen noted that a later debt initiative called the G20 Common Framework is also “almost dead” in its current form due to the procedural uncertainty involved and the fact that countries using it fear stigmatization. and jeopardize their solvency in global debt markets.

For Tim Jones, head of policy at Debt Justice, the multilateral programs offered by rich countries and global institutions do not go far enough. “Debt payments must be stopped so that the money can stay in the respective countries,” he said. He argued that it was the private lenders who went after the profits, pocketing large sums precisely because of the risks associated with the debt of the poorest countries. So, in turn, they should take the biggest hit from a default.

Edited by: Ashutosh Pandey

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BRICS, Putin, Xi and challenge to empire https://www.koparunescape2gold.com/brics-putin-xi-and-challenge-to-empire/ Sat, 25 Jun 2022 18:00:00 +0000 https://www.koparunescape2gold.com/brics-putin-xi-and-challenge-to-empire/ Russian President Vladimir Putin, left, and Chinese President Xi Jinping pose as they meet in Beijing on February 4. — Agence France-Presse/Sputnik/Alexei Druzhinin The BRICS are taking initiatives that challenge the Empire-led global arrangement. The arrangement – ​​the sole authority of Empire – in the global capitalist order will face fierce competition and resistance if […]]]>

Russian President Vladimir Putin, left, and Chinese President Xi Jinping pose as they meet in Beijing on February 4. — Agence France-Presse/Sputnik/Alexei Druzhinin

The BRICS are taking initiatives that challenge the Empire-led global arrangement. The arrangement – ​​the sole authority of Empire – in the global capitalist order will face fierce competition and resistance if BRICS initiatives progress steadily.

The ongoing war in Ukraine has emerged as an important lesson for all who stand on both sides of the war line. The NATO war alliance, on the one hand, is fighting Russia in a war that hasn’t happened since the end of World War II.

Not only in terms of the warring countries and the spread of the war, but also in terms of weapons, this Ukraine war is an example of the power, manipulative capacity and incapacity of imperial capital. The arena of war has already spread to several countries, as a few countries act as training camps while a few have turned them into storage and staging grounds, and acute propaganda including a psyop center. The most important part is one of the weapons used in war – sanctions. Its use indicates the extent of the capability of the Empire-led system, which ultimately shows the inability of sanctions as a weapon.

Vladimir Putin, the President of Russia, recently talked about some BRICS initiatives. These include the development of a global BRICS reserve currency – a basket of currencies from the BRICS countries. The Russian leader was speaking recently at the BRICS Business Forum.

The countries – Brazil, Russia, India, China and South Africa – together represent more than 40% of the world’s population with their share of more than 16% in world trade. The bloc’s share in the global economy is 23%, while the share of global investment is 25%. In 2021, the BRICS recorded over $8.5 trillion in merchandise trade. These will hopefully increase in the coming years as the countries of the bloc intensify their cooperation and a few more countries will join the BRICS.

Given the use of sanctions as a weapon by the Empire-led military alliance during the Ukrainian War, and increased trade and investment from BRICS countries, the development of a global reserve currency BRICS, as Russian President Putin said, is not only important, but a necessity and a challenge for the Empire-led system.

The Empire-run system proved unreliable and unreliable. Venezuela has already experienced this unreliability of the Empire-led pole. The Latin American country’s gold, an enormous amount, is found in the United Kingdom, a major pillar of the Empire-ruled system. Venezuela failed to bring this gold from London. Venezuela’s money is in the United States. Iran has the same experience. Russia is now experiencing the same – a huge amount of its reserve, over $300 billion, is now in the pocket of the Empire-run system. It is pure and simple theft.

Who knows that another country trying not to be swallowed up by the Empire-run system won’t have a similar experience? Who is safe in this imperial reality? Who can keep faith in the system run by the Empire?

None are safe in the system, and none can maintain trust in the system. We are safe from the bite of the system as long as it obliges the Empire.

The Empire’s economy itself is not in a strong position. This is another factor explaining the loss of confidence in the Empire.

Even, the capital which exploits its land of origin must aspire to security if its interest comes into competition/conflict with the imperial interest; and there is this possibility of competition/conflict, and it is because of the nature of capital.

In this perspective, the evolution of the BRICS reserve currency mentioned by Putin is a source of hope for countries aspiring to leave the imperial orbit.

The BRICS states, according to Putin, are also developing an alternative international payment mechanism. The countries have already initiated the process of using local currencies in exchanges between them. States are also developing a joint payment network.

The war in Ukraine has created this emergency — an alternative joint payment network. The Imperial order planned to subjugate Russia at the start of the Ukrainian War, and the Imperial system’s dominated payment network – SWIFT – was one of the tools of this assault. The alternative joint payment network will remove reliance on the imperial system. It will be a blow to the imperial system.

Russia has already developed an alternative payment system — the Financial Message Transfer System, or SPFS. Putin offered BRICS states to freely connect to the SPFS. Fifty-two organizations from 12 countries and most Russian lenders are connected to the system.

China has a similar system: the Cross-Border Interbank Payment System, known as CIPS. Last year, CIPS processed approximately $12 trillion.

Meanwhile, the yuan, according to SWIFT, was the fifth most active currency for global payments by value in April.

India, according to media, was considering the possibility of using the yuan as a reference currency in the payment settlement mechanism between India and Russia.

BRICS states can choose between the Russian and Chinese systems, or develop a third alternative. Regardless of the choice, any alternative payment method offers powerful possibilities beyond the Imperial system.

Thus, the message conveyed by Putin to the BRICS Business Forum, at the start of the BRICS summit which officially opened on June 23, 2022 in Beijing, is significant and has far-reaching implications.

Alberto Fernandez, the president of Argentina, has already expressed his support for such a system. For Fernandez, it’s a way out of dollar dominance. Maybe other countries will follow.

The 14th BRICS Summit may take new steps to get rid of the Empire’s hegemony. For Empire-subjugated countries, this is a positive development, as they experience how the Empire weaponizes the dollar. The Empire uses the dollar as a financial weapon, and the weapon is used to advance its interests – economic, financial, political; and political interest ultimately flows from economic interests.

Countries must move away from this militarization held by the Empire, because the system is anti-self-sufficiency and pro-subjugation, submission to the empire, and its interest is the exploitation of countries and peoples. It is part of the world order ruled by the Empire. Putin once said the old world was over. The statement was made at the St. Petersburg Economic Forum, which ended a few days ago.

Chinese President Xi Jinping, in his speech at the forum, called for increased cooperation on e-commerce, logistics and local currencies. This is an important proposition with wide possibilities.

Russia and China conduct part of their trade in their respective currencies. Hopefully it will expand. Both countries have similar agreements with a number of countries. The Chinese leader called for increased use of national currencies. Xi said using national currencies “would mean we wouldn’t need to use the US or EU banking system.”

Putin and Xi’s proposals and approaches are a direct challenge to the Empire-led system, the Empire’s leadership. The Empire cannot tolerate this, as it will harm the interests of the Empire.

The Empire needs and demands the domination of its dollar over all. The Empire needs and demands the expansion of its capital. This capital cannot survive without exploiting everything. Countries in Asia, Africa, Latin America and now Europe bear witness to this. Dollar dominance will never give others the space to grow.

On the contrary, the BRICS, and in particular China, the largest BRICS economy, offer a wider possibility; and after the use of sanctions as a weapon by the imperialist pole against Russia, Russia offers opportunities.

With sanctions as a weapon, the imperialist pole has burned its vaunted vehicles: the free market, free competition, free movement of capital and globalization with a confused name. A number of capitals, other than the capitals of the war industry and its associates, originating from European countries, experience how the “brilliantly” planned sanctions bury these capitals in the soil of Ukraine. In addition to hurting Russia, the sanctions are hurting the capitals of the anti-Russian camp. The direct loss of sanctioning economies due to the sanctions imposed on Russia is estimated at a few hundred billion dollars. This amount of loss is greater if the indirect loss is calculated. This loss will further increase with the passage of time.

Xi, on the contrary, called for increased representation from emerging economies and developing countries. Regarding the sanctions, he said, it is a boomerang and a double-edged sword, which “only ends up harming his own interests as well as those of others, and inflicting suffering on everyone “.

The difference is clear. The imperialist camp is already suffering. In Xi’s words, it is a “blind faith in the so-called ‘position of strength’ that attempts to expand military alliances and seeks its own security at the expense of others.” It is, Xi says, a one-man security dilemma, the party with the sanction weapon.

Putin said the sanctions were a “mechanism of pressure on competitors”, an “intentional destruction of cooperation”, the destruction of transport and logistics chains, undermining business interests on a global scale and negatively affecting people and countries.

Xi encouraged companies to invest and grow in China, strengthen trade and economic cooperation, share development opportunities.

The position of China and Russia is against the Empire. The capitals of these countries need space, opportunities, not confrontation. Part of the capitals of the imperial camp seeks confrontation for its own expansion.

The Empire and its camp supporters are still, already, suffering from their own weapon: sanctions. It may happen that the gold market is hit with sanctions. Secondary sanctions may be imposed. It depends on the game of groups and subgroups within the imperial camp. The objectives and approaches of these groups and sub-groups are not the same and uniform.

In this situation, the BRICS present themselves as a counterbalance, an opportunity and a challenge to the Empire.

Farooque Chowdhury writes from Dhaka.

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Digital Renaissance in Latin America: A deep dive into the region’s e-commerce industry in 2022 https://www.koparunescape2gold.com/digital-renaissance-in-latin-america-a-deep-dive-into-the-regions-e-commerce-industry-in-2022/ Fri, 24 Jun 2022 08:51:50 +0000 https://www.koparunescape2gold.com/digital-renaissance-in-latin-america-a-deep-dive-into-the-regions-e-commerce-industry-in-2022/ Karina Mata Farinamarketing manager at Boa Compra by PagSegurodetails the main trends, opportunities and challenges for the e-commerce and payments landscape in Latin America in 2022. As local economies recover from the pandemic and online shopping becomes a daily habit for more and more Latin American consumers, the region presents huge opportunities for merchants who […]]]>
Karina Mata Farinamarketing manager at Boa Compra by PagSegurodetails the main trends, opportunities and challenges for the e-commerce and payments landscape in Latin America in 2022.

As local economies recover from the pandemic and online shopping becomes a daily habit for more and more Latin American consumers, the region presents huge opportunities for merchants who know how to make the most of the markets of LATAM.

If it was already true that Latin America is a rapidly changing market when it comes to technology, the “new normal” has made it even clearer: post-pandemic, LATAM has greatly accelerated the process of digitization that it traversed, transforming e-commerce and the consumption of digital goods into preferences on a regional scale. Along with it comes payment innovation: from e-wallets to digital payments, Latin American consumers are increasingly mobile-first.

What does this mean for businesses? How permanent are the changes accelerated by the pandemic? What is the role of each local payment method in this context? After all, they range from declining, but still very popular, cash payment methods to disruptive instant payments. And how can foreign traders better understand this market and its opportunities?

Fifty million Latin Americans made purchases online for the very first time in 2020. An additional 51 million did so in 2021, bringing e-commerce penetration to 67% of the population. The e-commerce market in Latin America reached $268 billion in 2021 – and it is expected to reach $646 billion by 2025. This and other proprietary data was shared in BoaCompra by the recently published white paper by PagSeguro The Digital Renaissance in Latin America: A deep dive into trends, opportunities and challenges in the Latin American e-commerce industry, conducted in partnership with Americas Market Intelligence (AMI). In the study, we provide exclusive insights and up-to-date information on this exciting and rapidly growing market.

Focused on LATAM’s six main markets (Brazil, Mexico, Chile, Colombia, Peru and Argentina), the white paper was written based on internal AMI data and public sources, as well as in-depth interviews with cross-border traders. and local actors. of the aforementioned countries across multiple industries, including retail, video and music streaming, gaming, travel, and B2B digital goods providers.

Expertise to boost business in LATAM

Our goal with the study was to share some of the expertise we have gained over our 17 years of providing local payment methods to foreign merchants selling in LATAM. During all these years, we have observed closely how Latin America has become increasingly digitalized, how open customers are to innovative payment and shopping experiences, and how digitalization is an ongoing trend. which goes further every day without stopping.

After all, nowadays Latin America has an average of 77% internet and smartphone penetration, and these users are looking for smooth and agile experiences in the palm of their hand. So much so that mobile shopping, which now accounts for 65% of total online shopping volume, grew even more than desktop shopping in 2021. used a mobile device for their initial purchases. .

M-commerce is also growing due to the fact that Latin America still experiences huge levels of inequality, which makes internet access difficult for a considerable portion of the population. Being able to buy a smartphone and access 4G internet is easier than being able to get a fast Wi-Fi connection: in Colombia, for example, where high-speed internet and Wi-Fi are very limited, e-commerce remains a possibility for the majority of the population: in the country, 70% of the volume of e-commerce comes from mobile devices. While international credit cards are in the minority, local payment methods allow all consumers to shop online.

The impact of local payment methods

And so we reach one of the main challenges of selling in Latin America: understanding the particularities and rapid changes of the region. Very innovative, but still very unequal; is home to some of the most disruptive fintech companies in the world, but still with a considerable rate of unbanked citizens.

On the other hand, this is also one of the main reasons why digitization is so strong in LATAM: with innovation comes more access. When traditional banks are not at hand, instant payment methods such as Pix can be used by virtually any adult citizen. If Wi-Fi is lacking, buying a smartphone in installments and using it for everything – studying, working, shopping, streaming, gaming – is a possibility. When prices are high and national currencies are devalued, innovative shopping experiences and cross-border merchants come with greater product variety and more competitive prices.

To better understand this context, the white paper details the payments landscape in Latin America – from the importance of accepting domestic credit cards, which account for 30% of e-commerce volume, to the rise of instant payments, which are a type of wire transfer. Driven by the steady increase in instant payments in LATAM, online purchases paid by bank transfer are expected to grow from 13% in 2021 to 21% by 2025.

There are regional trends, but also different opportunities in each country. In Colombia, for example, bank transfers account for 40% of e-commerce sales, an amount higher than the region’s norm – one of the reasons behind this is the low penetration of credit cards in the country (16%) . This highlights the major importance of offering local payment methods when selling to LATAM, since each country has its own payment preferences – and its own challenges that come with specific market regulations.

Latin America is a challenge, yes, but with knowledge, data and expertise, it is a very open market for new merchants from all over the world. If you already sell to LATAM, you probably already understand its potential; If you’re still not, our whitepaper will help you understand why it’s a good idea and how to better navigate its quirks, thus making the most of its full potential.

The “new normal” is here, and it is highly digital, especially in fast-moving Latin America. To take advantage of this, it is fundamental to understand the region and its e-commerce and payment landscape. So if you want to learn more about how e-commerce thrives more than any other type of shopping in Latin America and the fundamental role local payment methods play in total e-commerce volume, click here to download the full white paper.

About Karina Mata Farina

Karina Mata Farina is Marketing Manager at BoaCompra, a PagSeguro company. She has over 16 years of experience in digital marketing, performance management and e-commerce. Prior to BoaCompra, Karina worked in e-commerce companies, startups and digital agencies.

About BoaCompra by PagSeguro

BoaCompra by PagSeguro is a local payments platform that allows merchants around the world to accept local payments in LATAM or send payments to Brazil. A one-stop payment solution that offers local processing in local currency with local or international setup in 17 LATAM countries, BoaCompra is part of PagSeguro, one of the region’s largest fintech companies and a disruptive provider of financial technology solutions focused on robust infrastructures.

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Xi urges BRICS business communities to improve cooperation, warns against politicization of global economy https://www.koparunescape2gold.com/xi-urges-brics-business-communities-to-improve-cooperation-warns-against-politicization-of-global-economy/ Wed, 22 Jun 2022 14:41:00 +0000 https://www.koparunescape2gold.com/xi-urges-brics-business-communities-to-improve-cooperation-warns-against-politicization-of-global-economy/ Photo BRICS: VCG In a keynote speech at the opening ceremony of the BRICS Business Forum on Wednesday, Chinese President Xi Jinping called on the BRICS business community to strengthen cooperation on trade, investment and finance, expand cooperation on cross-border e-commerce, logistics, local currencies and credit standing, and keeping industrial and supply chains safe and […]]]>

Photo BRICS: VCG

In a keynote speech at the opening ceremony of the BRICS Business Forum on Wednesday, Chinese President Xi Jinping called on the BRICS business community to strengthen cooperation on trade, investment and finance, expand cooperation on cross-border e-commerce, logistics, local currencies and credit standing, and keeping industrial and supply chains safe and uncongested.

During his speech, Xi also warned that politicizing the global economy as his tool or weapon, and deliberately imposing sanctions using his leading position in the international financial and monetary systems would only harm his own interests as well. than those of others and make everyone suffer.

Xi called for maintaining the multilateral trading system centered on the WTO, removing barriers to trade, investment and technology, and keeping the global economy open.

China will continue to enhance its opening-up and foster a business environment based on market principles, governed by law and in line with international standards, Xi said, while encouraging businesses to invest and grow in China, strengthen trade and economic cooperation and share development opportunities.

The BRICS Business Forum was held in Beijing on Wednesday, online and on site, on the sidelines of the 14th BRICS summit, which also kicked off on Wednesday.

The meetings aim to further strengthen cooperation among the BRICS countries, which account for about a quarter of the global economy, 18 percent of global merchandise trade and 25 percent of global foreign investment.

Last year, BRICS countries recorded $8.55 trillion in merchandise trade, an increase of 33.4 percent from the previous year, according to official data.

Besides the five BRICS members – Brazil, Russia, India, China and South Africa, the BRICS Business Forum has also attracted the active participation of 13 countries, including Kazakhstan, Argentina, Thailand and Indonesia.

At the forum, participants called for more inclusive business cooperation at a time when the global economy grapples with the fallout from the still raging COVID-19 pandemic and rising geopolitical tensions.

“Trade and open markets have historically gone hand in hand with better economic performance in countries at all levels of development, creating new opportunities for workers, consumers and businesses around the world and helping to break out of million people out of poverty,” said Busi Mabuza. , chairman of the Industrial Development Corp of South Africa (IDC), told the BRICS Business Forum on Wednesday.

The global economy is seriously ill and its lifeblood – international trade – has become weak, sluggish and congested, Yousef Al-Benyan, vice chairman and CEO of Saudi Basic Industries Corp (SABIC) said on Wednesday.

After rebounding to double digits in 2021, the annual trade growth rate is now expected to fall to low single digits, according to Al-Benyan.

The more varied and extensive trade flows, the more resilient the global economy will be to unpredictable disruptions such as those it has experienced over the past two years, he continued: “If I, who come from outside of the BRICS countries, I can exemplify the increased openness our world so badly needs, so I would be extremely pleased to participate here today.”

In Wednesday’s keynote speech, Xi also urged rejecting zero-sum games and pursuing win-win cooperation.

The tragedies of the past tell us that hegemony, group politics and block confrontation bring neither peace nor security; they only lead to wars and conflicts, Xi said.

Urging the international community to reject zero-sum games and jointly oppose hegemonism and power politics, Xi called for building a new type of international relations based on mutual respect, fairness, justice and win-win cooperation.

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The peso falls; breaches 54:$1 | Company Applicant https://www.koparunescape2gold.com/the-peso-falls-breaches-541-company-applicant/ Mon, 20 Jun 2022 20:30:00 +0000 https://www.koparunescape2gold.com/the-peso-falls-breaches-541-company-applicant/ Stock image INQUIRER.net The Philippine currency fell another peso against the U.S. dollar in just six trading days, closing at 54.065 against the greenback on Monday as markets absorbed deeper the “jumbo” rate hike the U.S. Federal Reserve announced. made last week. The peso remains at its lowest level in three years and eight months […]]]>
UK think tank: peso will drop to 54 to the dollar this year

Stock image INQUIRER.net

The Philippine currency fell another peso against the U.S. dollar in just six trading days, closing at 54.065 against the greenback on Monday as markets absorbed deeper the “jumbo” rate hike the U.S. Federal Reserve announced. made last week.

The peso remains at its lowest level in three years and eight months since October 15, 2018, when it closed at 54.08, just as it was on Friday when it closed at 53.75: $1. The local currency only crossed the $53:1 mark on June 10.

“The peso was weaker against the US dollar for the seventh day in eight trading days, after recent weakness in other Asian currencies [following] the sharp 75bp US Fed rate hike and the continued hawkish signals from the US Fed,” said Michael Ricafort, RCBC Chief Economist.

“Markets are still digesting the price hike in Fed rate expectations, and global risk assets may struggle to post a sustainable rebound for now,” ING Bank added in a commentary.

“All of this should keep the dollar mostly in demand in a week where markets will focus on [Jerome] Powell’s testimony,” the bank said, referring to the chairman of the US Fed board of governors.

Powell will testify in the US Congress next week and is expected to explain how the US central bank will dig in to tame inflation towards its 2% target, mostly with more interest rate hikes in upcoming policy meetings.

Here, rates on short-term Treasury bills (T-bills) rose across the board on Monday as the market braced for a possible rate hike by the Bangko Sentral ng Pilipinas (BSP).

Price increase

Analysts said consumer price pressures stemming from the war in Ukraine were accelerating interest rate hikes to their highest level since the early 1990s, but the global food crisis could be nearing its peak.

By capping interest rates, the Treasury Board (BTr) raised only 10.5 billion pesos out of the 15 billion pesos (5 billion pesos from each of the three tenors) it had planned to raise. emit. Eligible dealers offered to lend a total of 22.6 billion pesos, 1.5 times more than the amount BTr wanted to borrow.

But as bid rates soared, the BTr only granted 3.07 billion pesos in benchmark 91-day treasury bills. The average yield on three-month debt rose to 1.759% from 1.572% last week.

BTr raised 3.62 billion pesos from 182-day IOUs at 2.132%, up from 1.934% previously.

The 364-day notes were allotted at an average annual rate of 2.454%, higher than last week’s 2.325%, so borrowing was capped at 3.85 billion pesos for the longest term of the notes. Treasure.

“As expected, markets have asked for a high premium to cushion the upward rate adjustments issued by the US Federal Reserve and which will be monitored by the Monetary Board on Thursday to ease mounting price pressures,” the national treasurer said. Rosalia de León.

“While incoming BSP Governor Felipe Medalla spoke of a gradual tightening, some analysts still see a 50 basis point (bp) move (Thursday) after the 75 basis point hike issued by the Fed ( Federal Reserve) to reduce inflation,” De Leon added.

Fitch Ratings noted that last week’s 75 basis point rise in the US federal funds rate was the biggest hike since 1994. It added that central banks in other major economies were tightening policy from extreme lows.

Maybank said while supply constraints caused a spike in local food inflation, there were signs the global food crisis could be nearing its peak.

On the one hand, fertilizer prices were approaching previous highs during the 2007-2008 food crisis, but began to decline in May.

Maybank added that: China’s embargo on fertilizer exports would end in June; Indonesia had lifted the ban on palm oil exports; Malaysia’s chicken ban would likely be short-lived; and rice prices were stable and ample supplies would help contain food prices.


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Exchange rates in Pakistan – Dollar, Euro, British Pound and Riyal rates on June 19, 2022 https://www.koparunescape2gold.com/exchange-rates-in-pakistan-dollar-euro-british-pound-and-riyal-rates-on-june-19-2022/ Sun, 19 Jun 2022 04:25:01 +0000 https://www.koparunescape2gold.com/exchange-rates-in-pakistan-dollar-euro-british-pound-and-riyal-rates-on-june-19-2022/ Today’s exchange rates in Pakistan on June 19, 2022, current dollar rate in Pakistan, latest exchange rates for British Pound, Euro, Saudi Riyal, UAE Dirham, Canadian Dollar , Australian dollar to Pakistani rupees. All rates updated based on free market exchange rates. Today’s exchange rates in Pakistan according to international currencies as of June 19, […]]]>

Today’s exchange rates in Pakistan on June 19, 2022, current dollar rate in Pakistan, latest exchange rates for British Pound, Euro, Saudi Riyal, UAE Dirham, Canadian Dollar , Australian dollar to Pakistani rupees. All rates updated based on free market exchange rates.

Today’s exchange rates in Pakistan according to international currencies as of June 19, 2022. Latest prices for USD to PKR, EUR to PKR, GBP to PKR, AUD to PKR are given on this page. These currency prices are provided by open market currency brokers, and the exchange rates in Pakistan are updated four times a day to keep them fresh and relevant for users.

Currency Purchase Sale
Australian Dollar (AUD) PKR144.50 PKR 145.75
Bahraini Dinar (BHD) PKR550.60 PKR 555.10
British pound (GBP) PKR256.50 PKR260.00
Canadian dollar (CAD) PKR 160.50 PKR 161.85
Chinese Yuan (CNY) PKR 30.83 31.08 PKR
Danish Krone (DKK) PKR 28.92 PKR 29.27
Euro (EUR) PKR219.50 PKR223.00
Hong Kong dollar (HKD) 26.37 PKR PKR 26.72
Indian Rupee (INR) PKR 2.65 2.73 PKR
Japanese yen (JPY) PKR 1.60 1.66 PKR
Kuwaiti dinar (KWD) PKR 673.22 PKR 678.22
Malaysian Ringgit (MYR) PKR 46.89 47.34 PKR
New Zealand Dollar (NZD) PKR129.20 PKR 130.40
Norwegian Krone (NOK) 20.64 PKR PKR 20.94
Omani Rial (OMR) PKR 538.33 PKR 542.83
Qatari Riyal (QAR) PKR 56.20 PKR56.80
Saudi Riyal (SAR) PKR 55.60 PKR 56.40
Singapore dollar (SGD) PKR150.00 PKR151.30
Swedish Krona (SEK) 20.19 PKR PKR 20.49
Swiss franc (CHF) PKR 206.53 208.28 PKR
Thai Bhat (THB) 5.92 PKR 6.02 PKR
US dollar (USD) PKR209.00 PKR211.00
United Arab Emirates Dirham (AED) PKR57.00 PKR57.90

Rates are provided by local Forex market and local exchanges in Karachi, Lahore, Rawalpindi, Peshawar, Quetta, Faisalabad, Multan, Gujranwala, Sialkot and Islamabad.

Exchange rates are updated on this page four times a day, if you need more updated exchange rates in Pakistan than visit our company section.

You can also view current Gold Rates in Pakistan, Free Market Exchange Rates, Interbank Exchange Rates and Forex Exchange Rates

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Rupee slide continues, dollar now at 208.75 – Markets https://www.koparunescape2gold.com/rupee-slide-continues-dollar-now-at-208-75-markets/ Fri, 17 Jun 2022 12:33:45 +0000 https://www.koparunescape2gold.com/rupee-slide-continues-dollar-now-at-208-75-markets/ The rupee saw no respite on Friday and closed at 208.75 against the US dollar in the interbank market on panic over the International Monetary Fund’s (IMF) $6 billion Extended Financing Facility (EFF). ) in Pakistan and the fall in foreign exchange reserves held by the State Bank of Pakistan. During intraday trading, the currency […]]]>

The rupee saw no respite on Friday and closed at 208.75 against the US dollar in the interbank market on panic over the International Monetary Fund’s (IMF) $6 billion Extended Financing Facility (EFF). ) in Pakistan and the fall in foreign exchange reserves held by the State Bank of Pakistan.

During intraday trading, the currency fell to 209.12 before recovering slightly at the end of the session.

At the close, the local currency ended with a loss of Rs1.08 or 0.52% to close at Rs208.75 per dollar.

The fall comes as the current government is desperate to resume the IMF program and secure the next loan tranche worth $900 million.

In this regard, the government announced a third rise in the price of petroleum products on June 15 in less than three weeks, as it sought to quickly appease the IMF which insisted on the elimination of energy subsidies.

The 3rd time is a charm? : Government increases the price of petrol by Rs 24.03 and diesel by Rs 59.16

Meanwhile, foreign exchange reserves held by the SBP fell further by $241 million to $8.99 billion, the central bank said on Thursday, with the level remaining well below 1.5 months of import coverage.

This is the lowest level of foreign reserves held by the SBP since November 2019, and raises questions about Pakistan’s ability to meet its needs in the future.

Critical level: foreign exchange reserves held by the SBP fall to $8.99 billion, the lowest since November 2019

The local currency was also hit after the US Federal Reserve announced the biggest rate hike since 1994 and the dollar strengthened significantly against global currencies.

New day, new low: the rupee closes at 207.67 against the dollar

Talk to company registrarAlpha Beta Core CEO Khurram Schehzad said uncertainty surrounding the resumption of the IMF bailout is hurting sentiment in the forex market.

“The demand for dollars remains high in the market and this factor is driving up its value against the rupee,” he said. “The local currency is likely to experience volatility until the IMF agrees to disburse the next loan tranche to Pakistan.”

IMF says it did not ask Pakistan to renegotiate CPEC IPP deals

Earlier, Arif Habib Limited’s Research Director Tahir Abbas said the local currency was extending its slide due to post-fiscal uncertainty.

Finance Minister Miftah Ismail previously said the government’s 2022-23 budget, announced last week, failed to convince the IMF to disburse the next tranche of Pakistan’s $6 billion loan program , and that amendments would be necessary in the finance bill.

“The finance minister has clearly stated that the IMF is not happy with the budget and there will be changes,” Abbas said.

“Once the amendments are incorporated into the Finance Bill, only then will the Rupee stabilize.”

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The rupee slips 13 paise to close at an all-time low of 78.17 against the US dollar https://www.koparunescape2gold.com/the-rupee-slips-13-paise-to-close-at-an-all-time-low-of-78-17-against-the-us-dollar/ Wed, 15 Jun 2022 10:57:00 +0000 https://www.koparunescape2gold.com/the-rupee-slips-13-paise-to-close-at-an-all-time-low-of-78-17-against-the-us-dollar/ Brent futures, the global oil benchmark, fell 1.07% to $119.87 a barrel Brent futures, the global oil benchmark, fell 1.07% to $119.87 a barrel The rupee plunged 13 paise to close at a new all-time low of 78.17 (tentative) against the U.S. dollar on Wednesday as a lackluster trend in domestic equities and continued outflows […]]]>

Brent futures, the global oil benchmark, fell 1.07% to $119.87 a barrel

Brent futures, the global oil benchmark, fell 1.07% to $119.87 a barrel

The rupee plunged 13 paise to close at a new all-time low of 78.17 (tentative) against the U.S. dollar on Wednesday as a lackluster trend in domestic equities and continued outflows of foreign funds weighed on sentiment. investors.

In the interbank foreign exchange market, the local currency opened at 77.99 and eventually stabilized at its all-time low of 78.17, down 13 paise from its previous close of 78.04.

“The US central bank is expected to raise rates by 50 basis points. Belligerent comments could continue to keep the dollar supported at lower levels. Major crosses remained under pressure following large gains of the dollar,” said Gaurang Somaiya, Forex & Bullion Analyst, Motilal. Oswal Financial Services.

Mr. Somaiya added, “We expect USD-INR to trade sideways and range between 77.70 and 78.40.” The dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.64% to 104.84.

Brent futures, the global oil benchmark, fell 1.07% to $119.87 a barrel.

On the domestic stock market front, the BSE Sensex ended down 152.18 points or 0.29% at 52,541.39, while the broader NSE Nifty lost 39.95 points or 0.25% at 15,692.15.

Continuing their selling frenzy, foreign institutional investors on Tuesday sold shares with a net worth of ₹4,502.25 crore, according to stock market data.

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Traveling abroad this summer may be cheaper than domestic trips https://www.koparunescape2gold.com/traveling-abroad-this-summer-may-be-cheaper-than-domestic-trips/ Mon, 13 Jun 2022 13:36:47 +0000 https://www.koparunescape2gold.com/traveling-abroad-this-summer-may-be-cheaper-than-domestic-trips/ Share the article Last update 7 minutes ago A recent study found that going on a trip abroad this summer might actually be cheaper than going on vacation in the country. The study is sure to surprise travellers, who have been hearing for months about the current cost of airfare and hotel stays – but […]]]>

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A recent study found that going on a trip abroad this summer might actually be cheaper than going on vacation in the country. The study is sure to surprise travellers, who have been hearing for months about the current cost of airfare and hotel stays – but travelers may well be scrambling to find their passports and book a trip to abroad for the next ones. month.

Made possible by a range of different factors, the study shows that affordable international vacations are not just a thing of the past as many currently believe, but a feature of today’s travel as well. Here’s which destinations, according to the study, U.S. travelers can save money by visiting this summer — plus a look at other international destinations that are currently showing good value for money.

International travel is not always exorbitant

Despite frequent news articles telling travelers otherwise, international travel doesn’t have to break the bank – or so a recent travel study tells us. A study by travel booking platform Hopper found that several top destinations for US travelers could be well within budget — and, in many cases, even cheaper than going on a domestic vacation.

The reason why? The strength of the dollar against other currencies. Today, a US dollar can buy around 0.94 euros, making it one of the rare occasions when the two currencies have nearly reached parity – all this while the prices of flights and hotels in the United States increase. In simple terms, this means that a traveler’s budget in Europe will increase by 15% compared to last summer and by 6% compared to the same period in 2019 thanks to the strong dollar, which will contribute more than to compensate for the high price of plane tickets.

The survey also reveals that while airfares have generally increased in all areas, this is not the case for all destinations. Despite an overall increase of almost 15% for international flights and more than 30% for domestic flights compared to 2019, some destinations in Europe have indeed seen their ticket prices fall in recent years.

Airfares to Portugal fell by 11% compared to 2019, with tickets to Croatia also falling by 8.4% over the same period. Other countries, such as Ireland and Greece, will cost more or less the same price they paid in 2019, with airfare increases of less than 1%. Outside the EU, the main countries to target for cheap holidays are Chile, Sweden, Denmark and Norway, where flight prices have fallen and the dollar is performing well against the local currency. .

Male tourist visit in Stockholm, Sweden

Despite small overall price increases, travel in Europe can still be expensive for travellers. Flights to Mexico and the Caribbean are cheaper and have also seen a much smaller increase in airfare prices compared to domestic flights and flights to Europe, meaning that travel to major destinations such as Mexico, Jamaica and the Dominican Republic are even more attractive now than they were before.

The study also offered some general tips for saving money before and during the holidays. These included ordering currency from a bank before a trip to get the best exchange rate and, when abroad, paying in the local currency if possible to get the best exchange rate and price. Traveling abroad can still cost a penny, but it can now cost less than you previously expected.

Read more:

Thailand becomes first destination in Asia to lift cannabis ban

Travel insurance that covers Covid-19 for 2022

The 10 best destinations Americans can travel to without any tests this summer

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The 5 Best Currency Converter Apps for Windows https://www.koparunescape2gold.com/the-5-best-currency-converter-apps-for-windows/ Sat, 11 Jun 2022 19:15:00 +0000 https://www.koparunescape2gold.com/the-5-best-currency-converter-apps-for-windows/ Online conversion tools make it easy to convert currencies from one to another. Even Google itself has a handy currency converter you can use to find out how much foreign currency is worth in your local currency. However, constantly switching tabs can decrease your productivity if you have to perform countless conversions, such as when […]]]>

Online conversion tools make it easy to convert currencies from one to another. Even Google itself has a handy currency converter you can use to find out how much foreign currency is worth in your local currency.

However, constantly switching tabs can decrease your productivity if you have to perform countless conversions, such as when creating spreadsheets. This is where currency converter apps come in handy.

USE VIDEO OF THE DAY

If you also need to perform currency conversions frequently to keep your business running smoothly, here are the top five currency converter apps you should try.

1. First, try Windows built-in calculator app

Before we get to third-party currency converter apps, let’s take a look at the built-in Calculator app in Windows. Among the many amazing features of the Windows Calculator app, currency conversion is one you’ve probably never used before.

Unless you are converting from a less popular currency, you will find your relevant currency in the list of currencies available for conversion. The best part? You can update exchange rates in real time with just one click.


To convert currency in the Windows Calculator app, follow these steps:

  1. Launch Windows Calculator application.
  2. In the upper left corner, click the three horizontal lines.
  3. From the menu on the left, choose Currency below Converter.
  4. Click on the first drop down arrow to select the currency you want to convert.
  5. Select the local or preferred currency you wish to convert to by clicking on the second drop down arrow.
  6. For real-time conversion rates, click Update rate.

That’s all. Once you enter the first currency, the converter will convert it based on the current exchange rate. The Windows Calculator app simplifies currency conversion by eliminating the need to switch windows.

Callista Currency Converter is another handy Microsoft Store app that is superior to others in that it allows you to convert a single currency to multiple currencies simultaneously. The app uses reliable sources including the European Central Bank and Yahoo Finance for exchange rate data, but the list of currencies is quite limited.


Here is how you can convert currencies using the Callista Currency Converter app:

  1. Launch it Callista Currency Converter application.
  2. On the left side, under the digital display, click the Update icon.
  3. Click the circular icon next to Select currencies here.

  4. Select the currency you want to convert from and all the currencies you want to convert to. (There is no limit to the number of currencies you can select)
  5. In the upper left corner, click the back arrow button when selected.
  6. Enter the amount in the currency of your choice and press Walk in.

When you select a currency for which the exchange rate is not available from the European Central Bank, you will be prompted to select Yahoo Finance as the exchange rate provider. If you encounter this window, select Yes and continue your conversion after the rate update.

To download: Callista Currency Converter for Windows (Free)

Currency Converter Live is another useful tool for converting currencies. Mataf powers the app, so you can expect a more accurate conversion rate. Moreover, the app has an intuitive user interface, so getting used to it won’t be a problem.

Here are the steps to perform a currency conversion using the Currency Converter Live app:

  1. Launch the app.
  2. Choose the main currency you want to convert.
  3. Select your local currency from the second drop-down list – the one you want to convert your main currency to.
  4. Enter the amount in the box and it will be converted automatically.

As with the Callista Currency Converter app, you won’t be able to convert one currency to multiple currencies at once. Therefore, you will need to switch pairs with each conversion.


To download: Live Currency Converter for Windows (Free)

Currency, another easy-to-use currency converter, has a simple interface and does what it’s supposed to do. Its use is also free.

The developer mentions on the Microsoft Store that the exchange rates are based on rates published by national central banks so you get real-time exchange rates. If you want to update them manually, click on the interface and press Update now.

By default, there will be one currency pair. You can select your preferred currency in the pair by clicking on the down arrow next to the flag. After that, click on the currency box to open a numeric display to enter your currency value. Once added, the value will convert immediately so you can quickly make quick conversions.

As with Callista Currency Converter, you can add as many currencies as you want to convert your primary currency to multiple currencies at once. To add a new currency to the list, right-click in the application interface and click on the Add a button.

Finally, you can move any currency from any position up – just right click on the three horizontal dots in the currency area and select Go to first.

To download: Currency for Windows (Free)

XXL Currency Converter doesn’t have an intuitive interface like the other apps on the list, but it’s feature-rich and easy to use.

Start by choosing the two currencies of the pair on the right and on the left. Once selected, you can enter the value of your primary currency into the calculator, and it will instantly convert the value based on the European Central Bank conversion rate.

Also, you can view the conversion rate chart of your selected pair, change the theme and adjust the accuracy. To access these additional features, right-click on the application interface.

Finally, there’s an option to copy output, which is in the lower left corner – a useful feature to use when creating spreadsheets. The only limitation is that only a limited number of currencies are available.

To download: XXL Currency Converter for Windows (Free)

Convert currencies easily using Windows currency apps

All the apps on the list make currency conversion easy for you. All of them are free, so why not try them all and see which works best for you?

Although you can use Windows currency converter apps in the office, they won’t be useful when traveling abroad. So, don’t forget to load up your cell phone with a few apps before you pack your bags.

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