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Zhang Peng/LightRocket via Getty Images Japan’s yen has gone into orbit on Thursday, breaking through key technical support levels as rising global growth risks nudged investors into a rush to safe haven-assets. Apple cut its sales forecast for its latest quarter, citing slowing iPhone sales in China, while Chinese manufacturing reads added to the burden […]
The global importance of the Chinese yuan seems destined to rise, according to strategists and economists who say flows in the currency will grow over the long term if Beijing continues to gradually open its financial system. The yuan will become more globally important as China further allows foreign capital into the country through selective […]
The pound to euro exchange rate has been fluctuating thanks to Brexit news. Just two weeks ago the currency was at a six month high against the euro and the dollar. However, the currency soon start to slip. According to experts the pound is now far from these highs. However, it is not all bad […]
Marco Ferrarese October 11, 2018 Share this article On the shores of Indonesia’s third largest lake, a travel writer and photographer find out that a little dancing can go a very long way with the local indigenous people. “C’mon, try it again: One and two and three and four, one and two and three and […]
Moves in the Chinese currency carry rare news
MARIO DRAGHI, boss of the European Central Bank (ECB), is a polished speaker, clear and direct. Yet there was a moment after the bank’s monetary-policy meeting on September 13th when he was uncharacteristically vague. Asked how the ECB might recycle the proceeds from maturing bonds once it ends its bond-buying programme, he said the issue […]
Qatar and Turkey have inked a currency swap agreement to boost liquidity and provide financial stability, Qatar’s central bank said, days after Doha pledged $ 15 billion of direct investment into Turkish markets. The deal, which aims to boost cooperation between the countries, was clinched on Friday. The agreement will set up a two-way currency […]
Screenshot/Twitter Several Turks on social media protested US sanctions and the country’s plunging currency by smashing their iPhones and chopping up US dollars. The trend appears to have started on Wednesday, after a video of a man obliterating five iPhones with a sledgehammer went viral. Turkish President Recep Tayyip Erdogan called for the boycott of […]
Moscow is still interested in trading with Ankara using the Russian ruble and Turkish lira, according to the Kremlin. Both currencies have been falling against the greenback, with lira setting new record lows every day. “The issue of using national currencies in bilateral trade operations is a topic that has been raised by the Russian […]
Turkey’s banking system is chock full of foreign currency debt to companies. Borrowers who took out loans in U.S. dollars and euros will see the value of their payment obligations skyrocket in lira terms. A slowing economy will also intensify the pain.
