Monetary hegemony

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.

FX-protected deposit accounts attract 1.3 trillion Turkish Liras

FX-protected deposit accounts that were launched some nine months ago have attracted more than 1.3 trillion Turkish Liras of savings, Treasury and Finance Minister Nureddin Nebati has said.

Having more lira assets and deposit accounts with longer maturity are crucial both to investments and loans, Nebati said.

Financial Analyst: The Expensive Dollar will have a Negative Impact on the Import of Raw Materials

"The war in Ukraine and its consequences are the main reason for the leveling of the euro against the dollar. For the first time since the beginning of the new millennium, we have seen parity between the world's two major reserve currencies". This was stated by the economist and financial analyst Boris Petrov in an interview for BGNES