Currency

There is no currency crisis in Zimbabwe, claims minister

Fears of a return to the hyperinflation era that preceded the introduction of the multi-currency system in 2009 were heightened in the past fortnight when the value of bond notes tumbled on the parallel market and prices of basic commodities shot through the roof. Panic-buying gripped Harare last weekend and on his return from the United Nations General Assembly, President ...

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Hopes dim for Zimbabwe’s economy

Driving to work last week, Dennis Zhemi found his usually busy neighbourhood garage in the Zimbabwean capital Harare deserted and a forecourt attendant signalling “no fuel”. For Zhemi, 43, it was a worrying sign that Zimbabwe’s long-running economic collapse could be heading for another vicious spiral of basic shortages, hyperinflation and social chaos. His heart sank as he drove on, ...

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Emerging market currencies tumble | IOL Business Report

JOHANNESBURG – Exchange rates of emerging countries took a hiding last week due to the ongoing geopolitical storm between the US and North Korea, and the hawkish stance of the US Federal Reserve on expected hikes in interest rates. The rand had one of its worst weeks over the last three months. Against the dollar, the local currency depreciated by ...

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BIG INTERVIEW: There is no currency crisis, claims minister

Fears of a return to the hyperinflation era that preceded the introduction of the multi-currency system in 2009 were heightened in the past fortnight when the value of bond notes tumbled on the parallel market and prices of basic commodities shot through the roof. THE BIG INTERVIEW Panic-buying gripped Harare last weekend and on his return from the United Nations ...

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Alarm over foreign currency lending growth – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

According to the National Financial Supervisory Commission, in the first eight months of the year, lending in foreign currencies jumped by 11.5 per cent compared to only 1.7 per cent in the same period last year. It was slightly higher than the growth in đồng credit.  Interest rates on loans in foreign currencies are much ...

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The power struggle over trust-based technology

Technology blogs and financial news networks are buzzing about blockchain, a cryptographic, distributed trust technology. The key innovation is how it reduces the need for central third-party institutions to serve as central authorities of trust — banks, courts, large corporations, stock markets and even governments, for example. Distributed trust enables co-operative forms of organization without a centre. It can distribute ...

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Bitcoin Bug Bites Japan and South Korea as China Clamps Down

“Japanese people tend to be very conservative with their investments, but once they get triggered they go all in,” said Yuzo Kano, the founder and chief executive of bitFlyer. In South Korea, trading ticked up after the country’s largest company, Samsung, announced in May that it had joined a large alliance of global companies aimed at finding corporate use for ...

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Bahrain is Eyeing at Becoming Middle East Pioneer in Blockchain

Bahrain, one of the major oil-producing country in UAE, is turning to digital currencies as part of their financial structure.  According to Khalid Al Rumaihi, the chief executive of the Economic Development Board of Bahrain, the adoption of digital currencies in the system of Bahrain had been suggested over time through the finance ministry of the country. This has lead ...

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