By Makiko Yamazaki and Satoshi Sugiyama TOKYO (Reuters) -Japanese authorities were “seriously concerned and on high alert” about the yen’s rapid decline, said the country’s top currency diplomat Masato Kanda, escalating warnings as the currency languished at its weakest level in almost 40 years. “It is generally accepted that the current weakness in the yen […]
Tag: currency
Japan Says It’s Ready to Intervene in Currency Markets 24 Hours a Day If Needed
(Bloomberg) — The yen remained under pressure and within a whisker of key levels against the dollar Monday, even as Japan’s top currency official warned that authorities stand ready to intervene in currency markets 24 hours a day if necessary. Most Read from Bloomberg “If there are excessive currency fluctuations, it has a negative impact […]
China’s yuan will take over as Russia’s main trade currency ‘once and for all’ as US sanctions get tighter, think tank says
Alamy The latest batch of US sanctions against Russia will promote further use of the yuan, a think tank said. It argued that as ruble volatility increases, the Chinese currency will offer stability. While sanctions also threaten Chinese entities, they won’t be enough to disrupt yuan trading, it said. Fresh sanctions on Russia are too […]
Japan issues fresh warning against yen bears as currency slides
By Takaya Yamaguchi and Leika Kihara TOKYO (Reuters) – Japanese authorities are ready to take action against speculative and excessively volatile moves in the currency market that hurt the economy, the country’s top currency diplomat Masato Kanda said on Friday. “It’s not intended to change the market’s trend,” instead it was aimed at smoothing excessive […]
Deputies seize over $400,000 in illicit U.S. currency in Iredell County
The Iredell County Sheriff’s Office has announced it seized over $420,000 in illicit United States currency last month. On May 24, deputies conducted traffic stops on separate vehicles and discovered each of them had large amounts of cash. When questioned by the deputies about the money, each occupant in the vehiles denied knowing how the […]
Euro’s reserve currency role tumbles at expense of dollar, yen, ECB says
FRANKFURT (Reuters) – The share of the euro in foreign exchange holdings tumbled last year at the expense of the dollar and the yen, and further drops are possible whenever Russia becomes free to reduce its own euro stockpile, a fresh report from the European Central Bank showed. The share of the euro among foreign […]
China’s quest to turn the yuan into a global currency isn’t actually driven by domination. It’s about sanctions.
China is pushing yuan use globally to guard against potential Western sanctions. Beijing aims to reduce risks from sanctions in geopolitical tensions, like over Taiwan. But China’s trade partners face challenges in using more yuan. China is on a drive to expand the use of the yuan internationally. But Beijing’s near-term intent is more about […]
Zimbabwe authorities mix charm with force in an attempt to shore up the world’s newest currency
HARARE, Zimbabwe (AP) — The introduction of the world’s newest currency in April inspired a reggae artist to record a song praising the ZiG, or Zimbabwe Gold. The catchy tune, titled “Zig Mari,” received generous play on state television and radio. The musician, Ras Caleb, received a car and $2,000 — ironically paid in greenbacks, […]
Japan’s currency falls to its weakest since 1990 against the dollar as the yen keeps yelping
Bitcoin Chops Around $64K, With Japanese Yen’s Tumble Maybe Signaling ‘Currency Turmoil,’ Analyst Says
The Japanese yen fell Friday to its weakest level against the U.S. dollar since 1990. Bitcoin remained flat around $64,000 as some altcoins slid lower. Intervention may follow soon if yen devaluation continues, Lekker Capital’s Quinn Thompson said. Cryptocurrencies, widely known for their often volatile nature, were a sea of calm Friday as the Japanese […]
Lebanon says Israeli agents likely killed Hezbollah-linked currency exchanger near Beirut
BEIT MERI, Lebanon (AP) — Lebanon’s interior minister alleged Wednesday that the mysterious abduction and killing of a Hezbollah-linked Lebanese currency exchanger in a villa on the edge of a quiet mountain resort town earlier this month was likely the work of Israeli operatives. The killing of Mohammad Srour, 57, who was sanctioned by the […]