Lebanon: New Withdrawal Limits on Local Currency Stir Confusion

News circulated on Wednesday about limits set by banks for cash withdrawals on Lebanese pounds of up to LBP2 million per month, which is equivalent to around USD250 in the parallel market. For extra spending, depositors will be allowed to use their electronic cards, which also have limits that va

Iran's Rial Reaches New Low as Virus Deaths Hit New High

The Iranian rial fell to a new low against the US dollar on Sunday as a record daily death toll from COVID-19 compounded concerns over new US sanctions which may block some of Iran’s medicine purchases. The dollar was selling for as much as 312,200 rials on the unofficial market, up from 30

Iran's Rial Hits New Low against Dollar as Economy Reels

The Iranian rial fell to a new low against the US dollar on Saturday as the economy reels under pressure from the COVID-19 pandemic and US sanctions. The dollar was selling for as much as 304,300 rials on the unofficial market, up from 295,940 on Friday, according to the foreign exchange site Bon

South Sudan to Change Currency to Improve Economy

South Sudan’s cabinet agreed on Friday to change the country’s currency in order to improve the economy, the government spokesman said, without giving further details. “The cabinet has decided that the current currency should be changed....This is to improve our economic situati

Turkish Lira Hits All-Time Low Due to Political Turmoil

Turkey’s lira hit a record low for the second straight session on Thursday weighed by concerns over possible US sanctions and the Caucasus conflict. The lira sank 0.7% to an all-time low of 7.9389 to the dollar, Reuters reported. This came as other emerging market stocks and currencies ros

SAMA Introduces Five Riyal Denomination Made of Polymer

The Saudi Arabian Monetary Authority (SAMA) announced on Sunday its plan to release a five-riyal denomination of the Saudi currency made of polymer during the era of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz. In a statement, SAMA explained that both the design and colors of

Dollar, yen jump after Trump tests positive for coronavirus

The dollar rose and the safe-haven yen made its sharpest jump in more than a month on Friday after US President Donald Trump said he tested positive for COVID-19, just a month ahead of the Nov. 3 presidential election. The news could cause a new wave of market volatility heading into the election

Dollar ticks up after indecisive Trump/Biden debate

The dollar ticked up in Europe on Wednesday, recovering some losses after a two-day fall, as traders weighed the implications of a bad-tempered first debate between President Donald Trump and his challenger, Joe Biden. The dollar index crept just above the 94 mark against a basket of currencies a

Dollar hovers near two-month high amid economic, political risks

The dollar hovered near a two-month peak against a basket of currencies on Monday as doubts about economic recovery persisted before a barrage of economic data and political developments in the United States. A rebound in US stocks on Friday has helped curb the ascent of the dollar, considered a

Turkish Lira Slides to Record Low

The Turkish lira hit a record low on Monday on growing concerns around clashes between Armenian and Azeri forces, while emerging market stocks tracked gains in Asia as data showed a jump in Chinese industrial profits. The lira tumbled 1.5% to a low of 7.79 against the dollar, while the Russian ro

Iran's rial hits record low as tension spikes with the US

The Iranian rial fell to a record low against the US dollar on the unofficial market on Sunday, a day after the US President Donald Trump’s administration declared all United Nations sanctions on Tehran had been restored, Reuters reports. The dollar was offered for as much as 273,

Dollar set for weekly loss; Kiwi dollar hits 18-month high

The dollar was unable to shake off the previous session’s lows on Friday and was set for a weekly fall, losing out to the Japanese yen in particular, which hit a seven-week high as investors sought the safe-haven currency. Data released on Thursday showed that the number of people in the Un

Bruised dollar may bounce if U.S. election gets chaotic

Some investors are betting that a bout of election-induced volatility may be just the thing to give the battered dollar a reprieve from its months-long decline. The dollar stands near its lowest level in 16 months after falling more than 9% from its March peak on lower U.S. yields and expectation

Pound continues to slide on fears of a no-deal Brexit

Sterling fell more than 1 per cent against the dollar on Tuesday as fears grew that Britain was preparing to undercut its Brexit divorce treaty and torpedo trade talks with the European Union. The latest round of negotiations started on Tuesday, with Britain warning Brussels that it was ramping u

Turkish Lira near Record Low, Economy Shrinks by Nearly 10%

The lira hovered near record lows on Monday as data showed the Turkish economy shrank at its fastest pace in more than a decade due to the COVID-19 pandemic, while Asian currencies firmed following upbeat services sector figures from China. The lira eased 0.2% to 7.3511 against the dollar, tradin

Dollar on the backfoot again as economic clouds gather

 The dollar was on the defensive against most currencies on Friday after a rise in US jobless claims and a dip in Treasury yields dampened the appeal of holding the greenback. The yuan jumped to a seven-month high against the dollar, showing that even US-Sino diplomatic tension was not enoug

Dollar loses out and yuan soars amid doubts about US economy

The US dollar was on the defensive against most currencies on Friday after a rise in American jobless claims and a dip in Treasury yields dampened the appeal of holding the greenback. The Chinese yuan jumped to a seven-month high against the dollar, showing that even the US-China diplomatic tensi

Bitcoin's rally may see it rise above $12,000

Bitcoin’s recent run higher has brought out a lot of old predictions – and some new ones – about the future of crypto prices. The largest cryptocurrency has had quite a 2020, where after dipping below $4,000 (Dh14,680) it’s marched higher and is now bouncing around in the

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