EghtesadOnline: Much as the Iranian national currency's steep devaluation in recent months gave rise to challenges, it has also provided a boost to the country's trade balance on the back of surging exports and dwindling imports.
EghtesadOnline: President Donald Trump’s accusations that China and Russia are gaming their currencies were a “warning shot” about the consequences about devaluation, rather than part of a wish to achieve a weaker dollar, U.S. Treasury Secretary Steven Mnuchin said.
EghtesadOnline: U.S. President-elect Donald Trump on Friday said that China and other countries often devalue their currencies as the U.S. economy improves, vowing to combat currency manipulation and the dumping of foreign products into U.S. markets below cost.
EghtesadOnline: Egypt’s central bank, which unexpectedly left borrowing costs unchanged last week, is keeping its powder dry for what one economist called a “super” rate increase.
EghtesadOnline: According to Egypt’s president, the country’s future is at stake. With its currency trading near a record low in the black market, reserves to cover just three months of imports and a widening current-account deficit, pressure is mounting on the most populous Arab state to devalue the pound to alleviate a dollar shortage that prompted officials to seek help from the International Monetary Fund.