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The Lankan crisis: Forex reserves rise for first time in five months

Dayana Jones 8 months ago

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 […]

  • Business Forex

India’s Forex Reserves Rise By USD 3.854 Billion

Dayana Jones 8 months ago

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 […]

  • Business Forex

Pak has forex to pay for 2 months of imports, reserves slip below $10 bn

Dayana Jones 8 months ago

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 […]

  • Business Forex

10 African countries with the largest foreign exchange reserves

Dayana Jones 8 months ago

Just yesterday, President Yoweri Museveni of Uganda stressed that his government cannot afford to subsidise imports of essential foods and commodities, because doing so would be disastrous to his country’s paltry $4.5 billion foreign reserves. Other African countries have also taken steps to protect their foreign exchange reserves. In a […]

  • Business Forex

Pakistan forex reserves plunge to lowest level since Dec 2019: Report

Dayana Jones 8 months ago

Cash-strapped Pakistan’s foreign exchange reserves have dropped to their lowest level since December 2019, owing to an increase in current account and trade deficits, higher external debt payments and dried dollar inflows, according to a media report on Friday. As per data from Pakistan’s central […]

  • Business Forex

Forex reserves dip to 7-month low as central bank sells greenbacks

Dayana Jones 9 months ago

Taipei, May 5 (CNA) Taiwan’s foreign exchange reserves at the end of April fell to the lowest in seven months as the central bank continued to cut its holdings of U.S. dollars in a bid to prevent further weakness of the local currency, the central bank said Thursday. Data compiled […]

  • Business Forex

Forex reserves down $3.271 bn to $600.423 bn, says RBI data

Dayana Jones 9 months ago

The country’s foreign exchange reserves decreased by USD 3.271 billion to USD 600.423 billion in the week ended April 22, RBI data showed. In the previous week, the reserves had declined by USD 311 million to USD 603.694 billion. […]

  • Business Forex

Pakistan has a ‘strategy’ to boost shrinking forex reserves: FM | Business and Economy News

Dayana Jones 9 months ago

Karachi, Pakistan – Despite its fast-shrinking foreign exchange reserves which will inhibit imports of essential fuel, cooking oil and pulses, Pakistan says it will not be in dire straits like neighbouring Sri Lanka and that it has a “strategy” to boost its reserves. “No chance of default, none,” said Pakistan’s […]

  • Business Forex

Nepal bans import of luxurious items to save declining forex reserves

Dayana Jones 9 months ago

Nepal has formally banned the import of cars and other luxurious goods, including whisky and tobacco and have introduced two public holidays, citing a liquidity crunch and declining foreign exchange reserves, despite government assurances that the economy will not go into a tailspin like Sri Lanka. […]

  • Business Forex

‘India builds up forex reserves as China, others eye foreign assets’

Dayana Jones 9 months ago

With countries led by China focussing on accumulating assets abroad rather than boosting foreign exchange (forex) reserves, global forex reserves as a share of GDP have fallen from 15.4 per cent of GDP to below 14 per cent in the last six years, says a research report from Credit Suisse. […]

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  • Business Finance

The top five things to know about Saxo Bank

Dayana Jones 1 month ago

Saxo Bank has earned a reputation as one of the leading online trading platforms for retail and professional clients, offering products from forex to equities. It is well-regarded in the industry for its competitive pricing, reliable technology, and user-friendly platform. To make the most out of Saxo Bank’s various financial […]

  • Business Forex

FOREX-Euro and sterling gain in calmer end to wild week

4 months ago
  • Business Forex

FOREX-Euro, sterling plunge on dour business activity data, UK mini-budget

4 months ago
  • RBI: India’s forex reserves fell the most among emerging economies: Report

    4 months ago
  • China forex regulator warns against illegal money outflows

    4 months ago
  • NZ business sentiment is less dire RBNZ hint at rate cycle high

    4 months ago
  • Lauren Taylor Wolfe says it’s just too risky for investors to ignore ESG amid recent pushback

    4 months ago
  • German Ifo business survey on the agenda in Europe today

    4 months ago
  • Chicago mayor’s Invest South/West initiative gets slow start

    4 months ago
  • EAC states urged to lower forex and money transfer charges to boost trade

    4 months ago

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    FOREX-Euro and sterling gain in calmer end to wild week

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    RBI: India’s forex reserves fell the most among emerging economies: Report

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