Tag Archives: U.S. dollar

NAIROBI, KENYA | Xinhua | The Kenyan shilling traded at a new low of 161.4 against the U.S. dollar on Tuesday, the Central Bank of Kenya (CBK) said on Tuesday, as it continued with its free fall against major global currencies. The local currency crossed the psychological 160 mark against …

Western lenders for long have not been put on the spotlight for debt relief because they successfully managed to dupe the world that it’s only Chinese lenders that pose a threat to Africa Beijing, China | Xinhua | Like many senior U.S. officials who have visited Africa, U.S. Treasury Secretary Janet …

Juba, South Sudan | Xinhua | The central bank of South Sudan on Wednesday restricted public institutions and the private sector to transact business only in the local currency, the South Sudanese pound (SSP), amid the current volatile exchange rate which has seen the local pound depreciates against the U.S. dollar. …

Washington, U.S. | Xinhua | The U.S. central bank raised the benchmark lending rate by 0.75 percentage point last week, the fourth increase of that size and the sixth hike this year, bringing its key rate into a range of 3.75 percent to 4 percent, the highest in 15 years. The …

New York, U.S. | Xinhua | The U.S. dollar’s rise compounds excruciating problems of debt sustainability for scores of low- and middle-income countries, propelling them to diversify reserve currencies, reported Foreign Affairs in mid-October. The dollar “is everyone’s problem, to paraphrase an aphorism from John Connally, the former U.S. Treasury secretary,” …

London, UK | Xinhua | The British pound fell to a record low against the U.S. dollar on Monday as the largest tax cuts announced by the United Kingdom’s (UK) government for half a century undermined international confidence. The pound tumbled more than 4 percent to trade as low as 1.035 …

Rome, Italy | Xinhua | Parity between the dollar and the euro may persist for some time, evidence of a dramatic decline in the value of the main European currency. However, a leading economist in Italy has said that if exchange rates remain stable, European businesses will be able to cope. …

Tehran, Iran | Xinhua | Iran’s chief banker said the U.S. dollar will be gradually eliminated from Iranian-Russian economic transactions, the official news agency IRNA reported on Thursday. The trade volume between Iran and Russia stood at 4 billion U.S. dollars, which can be conducted through the Iranian currency rial and …

The euro has lost around 12 percent of its value against the dollar since the beginning of this year Rome, Italy | Xinhua | The euro and the U.S. dollar have broadly traded on par with each other this week after a steep devaluation for the euro which experts say will …

Frankfurt, Germany | Xinhua | The Euro on Wednesday briefly slipped below parity against the U.S. dollar in intraday trading after data released by the U.S. Department of Labor showed that the Consumer Price Index (CPI) surged 9.1 percent from a year ago in June. The exchange rate on Wednesday plunged …