currencies

Why Turkish lira is dropping?

Turkey’s lira nosedived more than 15% on Tuesday after President Tayyip Erdogan defended recent rate cuts and vowed to win his “economic war of independence”, despite widespread criticism and pleas to reverse course. …

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Turkish lira hits new depths

Turkey's lira weakened 1.3% on Tuesday to a new record low of 10.22 against the dollar, weighed down by expectations of another interest rate cut by a central bank. The lira has shed 27% this year, the worst performer in emerging …

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Taliban ban use of foreign currency in Afghanistan

The Taliban radical militant group (outlawed in Russia) announced a complete ban on the use of foreign currency in Afghanistan on Tuesday, a move sure to cause further disruption to an economy pushed to the brink of collapse by the abrupt …

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Dollar falls below 70 rubles

The dollar exchange rate fell to 69.51 rubles on the Moscow Exchange as of 11:10 Moscow Time on Tuesday. At the same time, the euro exchange rate fell to 80.66 rubles. Oil prices edged lower on Tuesday but remained near …

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Bitcoin drops below $30K

Bitcoin dropped below $30,000, breaking below a trading range that had held for the past four weeks and potentially setting up the largest cryptocurrency for deeper price declines. The cryptocurrency was trading around $29,998 at …

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Russia to cut dollar holdings from Wealth Fund

Russia will eliminate the dollar from its National Wellbeing Fund, shifting to euros, yuan and gold, Finance Minister Anton Siluanov said, as the Kremlin seeks to reduce exposure to U.S. assets amid threats of sanctions. "We can …

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Turkish lira hits record low

Turkey’s lira tumbled to a new record low of 8.6 versus the dollar on Friday as it took a hit from global inflation concerns, expectations that the central bank will soon cut rates and worries over possible early elections. The …

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Russia believes in possibility of SWIFT alternative

Russia cannot rule out that an alternative to the SWIFT payment system could appear, based on new technologies, Deputy Foreign Minister Alexander Pankin said. "Given the fast development of digital currencies and blockchain, it is …

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Bitcoin prices break through $36,000

Bitcoin prices rallied again today, surpassing the $36,000 price level as the cryptocurrency benefited from sustained momentum. The world’s most prominent digital currency climbed to as much as $36,461.69 at roughly 4 p.m. EST, …

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Russia's foreign debt shrinks as rouble weakens

Russia’s total external debt shrank in the first quarter to its lowest level since 2009, the central bank said, posing few extra risks for the already battered rouble and helping Russia withstand coronavirus-related shocks. …

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Russia's central bank starts preemptive FX selling

The Russian central bank has started preemptive selling of foreign currency on the market today to lower market volatility after a steep drop in the rouble, the bank said. The move is aimed at "increasing the predictability of the …

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Dollar-to-ruble rate grows to 72.5 rubles on Forex

The dollar-to-ruble rate on the international Forex market rose on Monday since the previous closure by 3.93 rubles and amounted to 72.5 rubles, according to the trading data. The euro-to-ruble at Forex increased compared to the closing …

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