Latest news with #foreignExchange
Bloomberg
2 days ago
- Business
- Bloomberg
Taiwan Dollar Rises Past 29 Per Greenback for the First Time Since 2022
The Taiwan dollar climbed to the strongest in more than three years against the greenback, pressuring the island's export reliant economy and life insurers with large foreign-exchange exposures. The currency climbed about 0.5% to 28.978 US dollar on Friday, its strongest against the greenback since April 2022. The move pushes the Taiwan dollar's rally this year to 13%, Asia's best performer.
Yahoo
3 days ago
- Business
- Yahoo
Hong Kong intervenes to defend currency peg
Hong Kong's de facto central bank has intervened again in foreign exchange markets to defend the city's currency peg, in a move that Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
India cenbank sold net $1.66 billion in spot forex market in April, bulletin shows
MUMBAI (Reuters) -The Reserve Bank of India (RBI) sold a net of $1.66 billion in the spot foreign exchange market in April, data released on Wednesday as part of the central bank's monthly bulletin showed. The RBI said it purchased $10.11 billion and sold $11.77 billion during the month. In March, the central bank had bought a net of $14.36 billion in the spot market. The Indian rupee braved multiple headwinds in April including U.S. trade policy flip-flops and an India-Pakistan conflict to come out stronger on the back of inflows into equities and as exporters ramped up dollar sales. The currency gained 1.2% in April, its second consecutive monthly rise, helping extend a reversal in its fortunes after hitting an all-time low of 87.95 in February. The RBI's net outstanding forward sale stood at $72.6 billion as of end-April, compared with a net sale of $84.35 billion at the end of the previous month, the data showed. The central bank intervenes in the spot and forwards market to curb exchange rate volatility. The rupee closed at 86.0775 per U.S. dollar on Wednesday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
4 days ago
- Business
- Reuters
India cenbank sold net $1.66 billion in spot forex market in April, bulletin shows
MUMBAI, June 25 (Reuters) - The Reserve Bank of India (RBI) sold a net of $1.66 billion in the spot foreign exchange market in April, data released on Wednesday as part of the central bank's monthly bulletin showed. The RBI said it purchased $10.11 billion and sold $11.77 billion during the month. In March, the central bank had bought a net of $14.36 billion in the spot market. The Indian rupee braved multiple headwinds in April including U.S. trade policy flip-flops and an India-Pakistan conflict to come out stronger on the back of inflows into equities and as exporters ramped up dollar sales. The currency gained 1.2% in April, its second consecutive monthly rise, helping extend a reversal in its fortunes after hitting an all-time low of 87.95 in February. The RBI's net outstanding forward sale stood at $72.6 billion as of end-April, compared with a net sale of $84.35 billion at the end of the previous month, the data showed. The central bank intervenes in the spot and forwards market to curb exchange rate volatility. The rupee closed at 86.0775 per U.S. dollar on Wednesday.
Zawya
4 days ago
- Business
- Zawya
Travelex reports surge in prepaid travel card popularity
Travelex, a leading foreign exchange brand, has experienced significant growth in its prepaid Travelex Money Card, outpacing industry forecasts. Between January and May, Travelex saw a 49% increase in reload transactions and a 50% increase in card reload penetration. This surge in customers choosing Travelex's prepaid card product outpaces Allied Market Research's forecast of a 15.3% CAGR in the prepaid travel money card market between 2023 and 2032. Additionally, Travelex has seen a 10% year-on-year increase in conversion rate in its TMC app, attributed to the company's relaunching of the app last year. The UK app allows customers to add up to 22 currencies, check their balance, view card details, and freeze and unfreeze their cards for instant protection. "Travellers want to access, top-up and manage travel money in a secure and reliable way. Our prepaid Travelex Money Card enables customers to easily budget, get competitive Travelex rates and spend whenever and wherever' said Simon Jackson, Chief Customer Officer at Travelex. 'We're delighted that our new Travelex Money Card app has been a major driver of Travelex Money Card growth. The app offers customers a fast and seamless top-up experience, making it even easier to spend safely abroad,' added Jackson. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
