Foreign exchange market
Nikolay Vassilev, Expert: Bulgaria is Ready For the Eurozone
,,We expect the coming year to enter the Eurozone waiting room, but this is a moving term that can last longer. Bulgaria has not yet applied for membership in the currency mechanism'', former Economy Minister Nikolay Vassilev said in the morning block of the Bulgarian National Television.
Central bank's FX reserves rise year-on-year
This level of gross FX reserves covered 181% of money supply (M1) or more than five months worth of the countrys imports of goods and services (almost twice the level prescribed by the standard on the adequate level of coverage of the imports of goods and services by FX reserves), the central bank has announced.
- Read more about Central bank's FX reserves rise year-on-year
- Log in to post comments
BNR's Vasilescu: The leu declined fast, after 1 January, but not as fast as to create concerns
The decline of the national currency in relation to the euro is 0.6 percent, and only in the situation in which it declines over 4-5 percent the Central Bank analysis rigor intervenes, National Bank of Romania (BNR) strategy consultant Adrian Vasilescu maintains.
Euro currency remains a work in progress on 20th birthday
The euro is about to celebrate its 20th birthday, but the countries that use it are still wrestling over how the shared currency should work and how to fix flaws exposed by the debt crisis that marred its second decade.
Turkish Central Bank reserves reach $91B in November
The Turkish Central Bank on Friday announced its official reserves amounted to $91 billion as of Nov. 30 of the current year.
"Net FX reserves at highest month-end level since 2000"
The central bank announced this on Tuesday.
"This level of FX reserves covered 190 percent of money supply (M1) or around six months'' worth of the country's imports of goods and services (almost twice the level prescribed by the standard on the adequate level of coverage of the imports of goods and services by FX reserves)," a press release said, adding:
Turkey allows foreign residents to make real estate deals in foreign currencies
Turkey has rolled back some restrictions on the use of foreign currencies that were brought in at the height of an economic crisis this year, according to a decree published on Nov. 16, loosening the real estate deal rules for foreign residents.
Experts: Bulgaria is Among the Least Endangered Countries in the Currency Crisis Happening Around the World
Seven emerging economies are at risk of a crisis in the exchange rate. They are Sri Lanka, South Africa, Argentina, Pakistan, Egypt, Turkey and Ukraine, experts from Nomura Holdings, quoted by Bloomberg, said in an interview.
Turkey, Russia, Iran 'to use local currencies for trade'
Turkey, Russia and Iran have agreed to use their local currencies for trade between the three countries, according to Central Bank of Iran Governor Abdolnaser Hemati on Sept. 7.
IMF urges Turkey to pursue 'sound' economic policies
The International Monetary Fund on Sept. 6 urged Turkish authorities faced with a falling currency and surging inflation to pursue "sound" economic policies to stabilize the situation.