Foreign exchange market
Digital currencies issued by central banks
Central bank} digital currencies (CBDCs), expected to become a reality in the next decade, could, in geopolitical terms, be a real game changer, bypassing the reigning dollar and euro payment systems and raising possibilities - but also dangers.
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Confidence in economic program increasing: Şimşek
Standard & Poor's (S&P) has confirmed Türkiye's credit rating as "B" and changed its credit rating outlook from "stable" to "positive."
"Confidence in our medium-term program is increasing," Treasury and Finance Minister Mehmet Şimşek wrote on social media platform X on Dec.1, commenting on S&P's move.
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Foreign fund inflows may start before elections: Banker
Foreign fund inflows to Türkiye are likely to gather momentum not after but before the local elections, says Hakan Aran, the general manager of İşbank, one of Türkiye's largest private banks.
The consensus is that foreign investors' interest in Türkiye usually increases before elections, he said.
Japan 'on standby' to intervene as yen plummets
Japan's top currency official said yesterday that Tokyo was "on standby" to intervene after the yen fell to a new year-low against the dollar and plunged against the euro, Bloomberg reported.
The yen dropped below 151 against the dollar overnight after the Bank of Japan further loosened its control of bond yields but stuck with sub-zero short-term interest rates.
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End-August NBS gross FX reserves at 23.6 bln euros
BELGRADE - National Bank of Serbia (NBS) FX reserves totalled 23,623.7 mln euros at end-August, reaching their highest end-of-month level since records began in 2000, the central bank said on Tuesday.
In August, gross FX reserves rose by 489.5 mln euros compared to the previous month.
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Şimşek dismisses claims about intervention in FX rates
Treasury and Finance Minister Mehmet Şimşek has dismissed claims that the Central Bank intervened in foreign exchange rates by selling its reserves.
The Treasury and the Central Bank are working to make Turkish Lira instruments more attractive, Şimşek wrote on X, formerly known as Twitter.
Türkiye to continue to build up reserves: Şimşek
Türkiye will continue to accumulate foreign exchange reserves as long as market conditions allow, Treasury and Finance Minister Mehmet Şimşek has said.
The minister noted that the gross reserves climbed to $115 billion in the week ending Aug. 4 from $98.5 billion as of the end of May, citing the data from the country's Central Bank.
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NBS gross FX reserves hit record-high 22.585 bln euros at end-June
BELGRADE - National Bank of Serbia (NBS) gross FX reserves reached 22.585 bln euros at end-June, their highest end-of-month level since records began in 2000.
The reserves were up by 496.8 mln euros m-o-m, the NBS said in a statement.
Money Troubles: Albania’s Strange Currency Crisis Defies Easy Solutions
Albania uses a flexible exchange rate regime, which means the currency fluctuates freely up and down, depending on supply and demand. This regime is preferred by free-market champions because it allows the market to regulate rates.
"The de-dollarization process has begun"
The United States of America itself is to blame for the fact that many countries began to give up trade in US dollars, Alexei Mozhin, Russia's representative at the International Monetary Fund, told "RIA Novosti".
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