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BUENOS AIRES, Argentina (AFP) — Argentina will pay for Chinese imports in yuan instead of US dollars in order to preserve its dwindling foreign reserves, Economy Minister Sergio Massa said on Wednesday. The South American country will be able to “program a volume of imports in yuan worth (the equivalent of) more than $1 billion from next month,” Massa said at a meeting in Buenos Aires with China’s ambassador Zou Xiaoli. This would “replace” the […]
The European Parliament approved the world’s first comprehensive rules to regulate the “Wild West” world of cryptocurrencies on Thursday, hoping to protect investors against abuse and manipulation. EU member states have already backed the legislation covering cryptoassets, which include cryptocurrencies such as bitcoin and ethereum and other tradable tokens whose value is secured using blockchain technology, such as NFTs. The rules, now approved by a large majority of European lawmakers, hope to whip into shape […]
The Lebanese pound sank to a historic low against the dollar on the parallel market Tuesday, the latest sombre milestone in an economic meltdown that has plunged most of the population into poverty. Officially pegged at 15,000 to the dollar, the pound was trading at 100,000 against the greenback, dealers said — a dizzying plunge from 1,507 before the economic crisis hit in 2019. The currency’s market value was at around 60,000 to the dollar […]
Tokyo, Japan | AFP | by Katie Forster The falling yen hit 150 per dollar for the first time since 1990 on Thursday, driven down by the contrast between Japanese monetary easing and aggressive US interest rate hikes. The currency has plunged from February levels of around 115 as the Bank of Japan sticks to its longstanding ultra-loose policies, designed to encourage sustainable growth in the world’s third-largest economy. At the same time the US […]
PARIS, France (AFP) — The euro sunk below $0.99 on Monday, a 20-year-low, following the announcement last week that Russia would cut off gas deliveries to Germany via the Nord Stream pipeline. The euro fell 0.70 percent to 0.9884 dollars Monday at 0535 GMT, its lowest since December 2002. The European currency has continued to weaken against the dollar since the start of the year, hammered by economic turbulence and uncertainties sparked by Russia’s invasion […]
MUMBAI, India (AFP) — The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified. The rupee hit 80.0600 against the greenback soon after trading started, compared with the previous close of 79.9775, Bloomberg data showed. High inflation and rising interest rates in the United States coupled with fears of an impending recession in the world’s biggest […]
MOSCOW, Russia (AFP) — Russian stock indexes fell Monday as the Ukraine crisis rapidly deteriorated, with the Kremlin dampening hopes for a summit between Russian leader Vladimir Putin and US President Joe Biden. The dollar-denominated RTS index was down 8.5 percent at 1200 GMT, and has fallen nearly 19 percent since the start of the year. The Russian currency also slid, with the US dollar being exchanged for 78 rubles and the euro for almost […]
NEW YORK, United States (AFP) – Poet and activist Maya Angelou has become the first Black woman to appear on the US quarter, in a new version of the coin unveiled by the US Mint on Monday. Angelou, author of “I Know Why the Caged Bird Sings,” will also be the first figure commemorated through the American Women Quarters Program, which was signed into law in January 2021. The US Mint “has begun shipping the […]
(Eagle News) – An official of the Securities and Exchange Commission (SEC) advised the public to exercise due diligence when transacting with crypto or online platforms, including those involving play-to-earn platforms such as Axie Infinity. SEC Commissioner Kelvin Lee said Axie Infinity for instance did not register as a business entity here in the country with the SEC, nor did it register to conduct investment solicitation. “Base po sa verification ng records po namin […]
LONDON, United Kingdom (AFP) — The price of bitcoin fell sharply on Tuesday, approaching a symbolic $30,000 threshold it has not crossed since January and dragging other cryptocurrencies in its wake. At around 15:45 GMT, bitcoin fell 8.6 percent to a value of $31,501, a level not seen since mid-May, when the volatile cryptocurrency temporarily lost 30 percent in one session. The second-largest cryptocurrency, ethereum, lost 11.2 percent of its value, falling to $2,361. “Numbers […]
by Andrea Palasciano MOSCOW, Russia (AFP) — Working in secrecy for a year, the Telegram messaging service has a plan: to beat Facebook in the race to launch a cryptocurrency with its new project “Gram”. Little is known about Gram, but media reports say Russian-founded Telegram aims to create an accessible service that is easier to use than various cryptocurrencies like Bitcoin — still confined to a relatively small market. In a document leaked […]
WASHINGTON, United States (AFP) — The United States on Monday formally named China a currency manipulator, accusing Beijing of weakening the yuan as the two countries’ trade war escalates. The move came as China earlier on Monday allowed its currency to fall to its weakest levels against the dollar in almost a decade, prompting irate Twitter outbursts from US President Donald Trump and sending global equities markets diving into the red. Treasury Secretary Steven Mnuchin […]
