Use of 10 per cent ethanol-blended petrol has led to a saving of over Rs 41,000 crore in the foreign exchange for the country, minister of state for environment, forest and climate change Ashwini Kumar Choubey said on Wednesday. Speaking at an online event […]
Business Forex
ALEXBANK Adopts Refinitiv Electronic Trading to Boost FX Business
ALEXBANK, one of the largest financial services providers in Egypt, announced today that it has adopted Refinitiv Electronic Trading Solution (ET) to expand its reach in domestic and international foreign exchange (FX) markets. The recent adoption has made ET the first corporate pricing engine for foreign currency trading that complies […]
The Lankan crisis: Forex reserves rise for first time in five months
Sri Lanka’s foreign exchange pile rose for the first time in five months, likely due to deferment of payments to India under an Asian Clearing Union, even as the nation scrambles for credit lines to ease shortages. The stockpile rose to $1.92 billion at the end of […]
India’s Forex Reserves Rise By USD 3.854 Billion
India’s foreign exchange reserves increased by USD 3.854 billion to USD 601.363 billion in the week ended May 27, according to RBI data. In the previous week, the reserves rose by USD 4.230 billion to USD 597.509 billion. During the reporting week, the rise in forex reserves […]
FOREX-Yen tumbles against euro as central bank policy diverges
The euro hit a seven-year peak against the yen on Wednesday, getting a lift after an upward revision to first quarter growth and ahead of a European Central Bank meeting on Thursday that is likely to pave the way for rate hikes later in the year. The ECB is set […]
Northern Trust Announces Leadership Changes to Front Office Solutions and Global Foreign Exchange Businesses
CHICAGO–(BUSINESS WIRE)–Northern Trust today announced the appointments of John Turney as Global Head of Front Office Solutions and Marisa Kurk as Head of Global Foreign Exchange (GFX). Turney, who has led GFX since 2018, takes the helm of the innovative and growing Front Office Solutions business as it expands to […]
Pak has forex to pay for 2 months of imports, reserves slip below $10 bn
Pakistan’s foreign exchange reserves fell below $10 billion, threatening to spill over into a fullblown economic crisis unless policy makers secure a loan from the International Monetary Fund. The stockpile decreased by $366 million in the week ended May 27 to stand at $9.72 billion, the central […]
Microsoft warns of forex hit, cuts forecast
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June 2 (Reuters) – Microsoft Corp (MSFT.O) on Thursday cut its fourth-quarter forecast for profit and revenue, making it the latest U.S. company to warn of a hit from a stronger greenback. A hawkish Federal Reserve and heightened geopolitical tensions have driven a 14% gain in the dollar against a […]
Proven Forex Trading Strategies that Work in 2022
While only a few people can afford to trade Forex full-time, many traders seek part-time chances to open and close trades at night or during lunch. Trading on a regular basis can lead to lost opportunities when it comes to selling or buying assets. In this post, we’ll show you […]
Malawi Faces Shortages of Foreign Exchange Currency
Blanyre, Malawi — Malawi is facing acute shortages of foreign exchange currency, forcing two international airlines to suspend some of their services in the country. The situation has negatively affected the operations of many more local and international cross-border businesses. The latest monetary policy report by the Reserve Bank of […]