dollar

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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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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Taliban ban taking out dollars from Afghanistan

The Taliban (terrorist group banned in Russia), who have taken power in Afghanistan, banned on Tuesday the movement of U.S. dollars and historical relics out of the country.  In a tweet, spokesman Zabihullah Mujahid said any of the …

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Oil slides amid new Covid variant

Oil prices fell over 2% to a three-week low on Monday, extending last week's steep losses on the back of a firmer U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand

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Dollar surpasses 75 rubles first time since May 4

The dollar increased by 0.42% to 75.025 rubles on the Moscow Exchange as of 9:37 Moscow time. The last time the dollar rate was above 75 rubles on May 4, 2021. By 9:51 Moscow time, the dollar rate accelerated growth to 0.47% …

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Dollar falls below 72 rubles first time since last July

The dollar fell by 0.44% to 71.98 rubles on the Moscow Exchange on Wednesday. The last time the dollar was below 72 rubles on July 28, 2020. By 10:34 Moscow time, the dollar slowed down to 0.33% and reached 72.06 rubles. At the same …

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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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Dollar and euro drop by 0.29 rubles

The dollar exchange rate declined by 29.05 kopecks to 73.2965 rubles on the Moscow Exchange on Monday. The euro exchange rate dropped by 29.53 kopecks and amounted to 89.3778 rubles.  The Russian ruble also …

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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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China tries to internationalise its currency

The emergence of China as an economic and financial powerhouse has been much quicker than often anticipated. Whether in terms of technological advances, industrial development, global trade or involvement in the capital markets, China's …

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Moscow's bid to ditch dollar picks up

Moscow’s multi-year push to reduce Russia’s exposure to the dollar hit a major milestone as the share of exports sold in the U.S. currency fell below 50% for the first time, Bloomberg writes. Most of the slump in dollar use came from Russia’s trade with China, more than three-quarters of which is now conducted in euros, according to central bank data published late Monday. The common currency’s share in total exports jumped more than 10 percentage points to 36%, the data for the fourth quarter show

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Europe struggles to defend itself against dollar

Despite warm words from Biden, U.S. secondary sanctions against Iran, Russia and others punish European companies and prompt new calls for strategic autonomy, The New York Times writes. The new Biden administration is making nice with the European Union, talking of renewed cooperation and suspending retaliatory tariffs stemming from an old dispute between Airbus and Boeing

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Russia gradually ditching U.S. dollar

Russia is gradually reducing the share of the U.S. dollar in the US economy and foreign exchange reserves, Russian State Duma Speaker Vyacheslav Volodin said. "For example, within the framework of the EAEU, settlements in national …

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