China tries to calm the markets because of the cheaper yuan

July 5, 2018 11:55 amComments Off on China tries to calm the markets because of the cheaper yuan
China tries to calm the markets because of the cheaper yuan

People’s Bank of China tried to calm the nervous forex markets after the yuan passed the psychological limit of 6.7 CNY per USD, reaching its lowest value in nearly an year because of deepening worries over the trade issue with the United States. Asian exchanges and the Chinese currency are under pressure against the background of the approaching July 6, when the US will impose a 25% duty on Chinese […]

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Morgan Stanley expects the Turkish lira to head down

June 26, 2018 11:39 amComments Off on Morgan Stanley expects the Turkish lira to head down
Morgan Stanley expects the Turkish lira to head down

Buying a Turkish lira may have been easy after the Sunday election, but it might be expected a currency rally. The Turkish lira jumped by more than 3% early on Monday after investors welcomed the end of political uncertainty. But given all the difficulties that the economy is still facing and the uncertainty about how they will be overcome, the currency has not kept its stature, and according to US […]

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Turkish lira appreciated sharply after victory of Recep Tayyip Erdogan

June 25, 2018 11:52 amComments Off on Turkish lira appreciated sharply after victory of Recep Tayyip Erdogan
Turkish lira appreciated sharply after victory of Recep Tayyip Erdogan

The Turkish lira appreciated sharply at the beginning of Monday trading after the victory of Recep Tayyip Erdogan in the presidential elections and his party AKP in parliamentary elections. The victory of the President Erdogan is being interpreted by financial market participants as a sign of political stability in Turkey after months of worries before the elections. However, a number of analysts and economists suggest that the rise of the […]

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British pound collapsed to a 7-month low

June 20, 2018 1:51 amComments Off on British pound collapsed to a 7-month low
British pound collapsed to a 7-month low

The British pound collapsed to a 7-month low against the US dollar after Prime Minister Theresa May lost the vote on Brexit’s legislation in the House of Lords. The GBP falls for a second day against the USD, as the market focuses on a new vote on Wednesday, this time in the House of Commons. The legislators in the upper house backed a correction late Monday, ensuring a “meaningful vote” […]

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Venezuela’s denominated currency will not be released before August

June 3, 2018 10:02 pmComments Off on Venezuela’s denominated currency will not be released before August
Venezuela’s denominated currency will not be released before August

The new Venezuela’s currency will not be released before August. As the Bolivar was depreciated by inflation, which, according to some estimates, had reached 13,000%, the government planned to release the new Bolivar in June. The new currency will formally correct inflation by deleting three zeros from the old currency. So 1,000 Bolivar will be equal to 1 new Bolivar. The current date for the release of the new currency […]

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