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Forex News

Turkey's new finance supremo seeks to reassure rattled markets

Istanbul - Turkey's new finance minister, the son-in-law of President Recep Tayyip Erdogan, on Thursday sought to reassure financial markets rattled by his appointment by saying the independence of the central bank was not open to question.

Turkey lira slumps to new record lows after Erdogan commments

Istanbul - Turkey's embattled lira slumped almost five percent to new record lows in value against the US dollar on Wednesday after concern over President Recep Tayyip Erdogan's new cabinet and his latest comments on interest rates.The lira was trading at 4.

Tehran's Grand Bazaar strikes in protest at rial collapse

Tehran - Traders in the Iranian capital's Grand Bazaar held a rare protest strike Monday against the collapse of the rial on the foreign exchange market as demonstrators also took to the streets.

Argentina seeks to reassure markets after peso crisis

Buenos Aires - Argentina sought to inject some confidence back into its beleaguered currency and calm markets on Friday after the peso plunged more than 6.0 percent against the dollar, leaving it at a record low.

Turkey hikes interest rate again as vote looms

Ankara - The Turkish central bank on Thursday hiked interest rates for the second time in two weeks, prompting the lira to rally strongly with elections on the horizon.

Erdogan asks Turks to help prop up plunging lira

Ankara - Turkish President Recep Tayyip Erdogan on Saturday urged compatriots to change their foreign currency to the lira to help prop up the embattled currency.

Turkey makes sharp emergency rate hike to stem lira losses

Ankara - The Turkish central bank said on Wednesday it had hiked one of its key interest rates 300 basis points (bps) to bolster the lira after the currency plunged to historic lows against the US dollar.

Erdogan hits Turkey currency storm month before polls

Ankara - Turkish President Recep Tayyip Erdogan is facing a potentially severe crisis just a month ahead of elections over the sharp depreciation of the lira which risks buffeting his campaign and even influencing voters.

Turkey central bank silent as lira 'freefall' intensifies

Istanbul - Turkey's embattled lira on Wednesday lost over three percent in value to hit new historic lows against the US dollar, but there was no word from the central bank of any emergency action to buttress the currency.

Peso crisis is over, says Argentina's Macri

Buenos Aires - Argentine President Mauricio Macri said a crisis that saw the country's currency plummet in recent weeks had ended, adding that reducing the budget deficit was a priority for his administration.

Turkey bank vows 'necessary steps' after lira crashes to new lows

Istanbul - Turkey's central bank on Wednesday vowed to take "necessary steps" to stabilise the embattled lira after it hit historic lows as investors took fright at comments by President Recep Tayyip Erdogan that he wanted a bigger say in monetary policy.

Argentina braces for investor flight amid bid to save peso

Buenos Aires - Argentina appeared Tuesday to have halted the slide in the peso after the Central Bank introduced desperate measures to prop up the currency and staunch the flight of capital.The peso had clawed back 0.

Argentine peso takes fresh hit amid uncertainty

Buenos Aires - Argentina's peso plummeted to a new low Monday despite government attempts to curb losses in recent weeks by hiking interest rates and shedding billions in foreign reserves.

Argentina peso drops over 6 percent

Buenos Aires - Argentina's peso plummeted by more than 6 percent on Monday, sparking new inflation fears for Latin America's third-largest economy.The currency fell 6.6 percent to trade at 25.20 against the dollar as markets opened.

US sanctions hit Iran Revolutionary Guard currency network

Washington - The US Treasury together with the United Arab Emirates announced action to disrupt an alleged "large scale" currency exchange network run by Iran's powerful Islamic Revolutionary Guard Corps.

Argentine peso falls 4.61% in opening trade

Buenos Aires - The Argentine peso fell 4.61 percent in opening trade Tuesday, signaling a return to the volatility that prompted the country's central bank to intervene last week to support the currency.The peso declined to 23.

Argentina raises key rate to 40 pct -- in third hike in a week

Buenos Aires - Argentina's Central Bank on Friday hiked its benchmark interest rate to 40 percent to support the peso, the third such hike in just over a week and one day after the currency plunged in value.

Argentina raises key rate to 40% — in third hike in a week

Buenos Aires - Argentina's central bank hiked its benchmark interest rate to 40 percent on Friday to support the peso after it plunged in value the day before.The bank had raised its key rate to 33.

Venezuela arrests top execs at private Banesco bank

Caracas - Venezuela has arrested the president of Banesco, the country's leading private bank, along with 10 executives on suspicion of "attacks" on the local currency, the country's top prosecutor said Thursday.

Quebec wary of bitcoin gold rush

Saint-hyacinthe - At the site of a former cocoa factory in Canada's Quebec province, tiny holes punctured in the walls of a warehouse allow fresh air to cool thousands of whirring processors connected by a tangle of wires.

Japan raids hacked crypto exchange, bitcoin plunges further

Toukyo - Japanese authorities on Friday raided virtual currency exchange Coincheck, a week after the Tokyo-based firm lost $530 million in cryptocurrency to hackers.

Record highs, record heists: where is cryptocurrency heading?

Toukyo - A hacking theft that netted $530 million, a ban on Facebook advertising, regulation even in Russia and more wild price swings: despite another stomach-churning week for cryptocurrencies, analysts say they are here to stay.

Angola faces currency test in economy shake-up

Luanda - Angolan President Joao Lourenco was elected five months ago promising an "economic miracle".

China denies report it could halt US bond purchases

Bejing - China denied on Thursday a report that it may slow or cease its purchases of US Treasury bonds, calling it a possible case of "fake news" after the dollar tumbled following the story.

China denies report it could halt US bond purchases

Bejing - China on Thursday denied a report that it may slow or cease its purchases of US Treasury bonds, which sent the dollar falling.

Bitcoin makes muted stock exchange debut at $15,000

New York - Cryptocurrency Bitcoin made its debut on a major bourse Sunday, opening at $15,000 per unit at the Chicago board options exchange.

Bitcoin futures launch sparks excitement, warnings

New York - Bitcoin will make its debut on a major exchange Sunday, a landmark for the cryptocurrency that has generated enthusiasm among some investors and more than a little anxiety from others.

Bitcoin hits new records, heads for $10,000 as bubble fears grow

Singapore - Bitcoin soared to fresh records Tuesday, putting it on course for $10,000, but the virtual currency's stratospheric rise has fuelled fears of a bubble after a 10-fold increase this year.

Bank of England seen hiking rate for first time in decade

London - The Bank of England, battling Brexit-fuelled inflation rises, is set Thursday to lift its key interest rate for the first time since 2007, according to analysts.

Bank of England set to hike rate on Brexit effects

London - The Bank of England, on guard against soaring Brexit-fuelled inflation, is on the precipice of lifting its key interest rate Thursday for the first time since 2007, according to analysts.
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