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Currency News

Glimmerings of growth in Greece

According to the Foundation for Economic and Industrial Research, or IOBE, Greece’s economy is slated to stabilize this year and may possibly achieve some small growth based on projections.
In the Media by Simon Crompton

ECB's Draghi: the strong euro could require policy action

Washington - European Central Bank chief Mario Draghi said Saturday that the bank may need to take action to stem the rising euro."The strengthening of the exchange rate would require monetary stimulus" as long as interest rates are already extremely low, he said.
In the Media by AFP

Deutsche Bank manager suspended in forex probe

Frankfurt - Deutsche Bank, Germany's biggest lender, has suspended a top saleswoman in an investigation into suspected foreign exchange rate manipulation, the Wall Street Journal reported on Thursday.
In the Media by AFP

BoJ chief doubts Bitcoin's future as a currency

Tokyo - The head of the Bank of Japan on Tuesday cast doubt on Bitcoin's future, saying the scandal-plagued digital unit "cannot be a currency" unless it proves its reliability.
In the Media by AFP

Switzerland probes top banks for currency manipulation

Z - Switzerland said Monday it was investigating a range of banks, including domestic leaders UBS and Credit Suisse along with top global houses, over suspicions they manipulated currency markets.
In the Media by AFP

Britain, China sign yuan trading deal

London - Britain and China have signed a deal for the first clearing service for yuan trading outside of Asia, the government here said Wednesday.The move would make yuan, or renminbi, transactions in London's financial centre more efficient and quicker.Britain...
In the Media by AFP

China's yuan falls to nearly 13-month dollar low

Shanghai - China's yuan weakened against the US dollar on Thursday to its lowest level in nearly 13 months, but analysts said it would help authorities control speculative funds betting on continued rises of the currency.The yuan fell to an intraday low of 6.2334...
In the Media by AFP

Govt announces plans to introduce 12-sided £1 coin

London - A new 12-sided £1 coin, said by the Royal Mint to be "the most secure coin in circulation" is to be introduced in an effort to curb counterfeiting, under government plans announced Wednesday.The new bi-metallic, two-coloured coin will have the same sh...
In the Media by AFP

China widens yuan daily trading band to 2%: central bank

Beijing - China will widen the yuan's daily trading band to two percent from the current one percent, the central bank announced Saturday, underscoring efforts to loosen Beijing's grip on its tightly-controlled currency.The move will take effect on March 17, the...
In the Media by AFP

Ruble falls sharply in value against euro amid Crimea tension

Moscow - The Russian ruble on Thursday fell sharply in value against the euro after Crimea's pro-Russia authorities announced they wanted to join Russia and international talks failed to reach consensus.The ruble lost value to trade 50.06 rubles to the euro at ...
In the Media by AFP
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Italy will Kill the Euro - Not Spain or Portugal

Berlusconi's restive and anti-European coalition partners are mulling a contingency plan to pull out of the eurozone...
Feb 25, 2011 by Sam Vaknin - 1 comment


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