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The Latest Breaking News from US Dollar

Ghana's economic crisis: expert insights into how things got so bad – and what the fixes are

Ghana is grappling with runaway inflation as prices of basic commodities have spiralled. Government finances are also at their weakest in years. Ghana’s local currency, the cedi, is now the world’s worst performer against the US dollar - a signal of the depth of the country’s economic crisis.

The Conversation

FTSE 100 Live: Sterling higher as Sunak wins PM battle, Hong Kong shares slide

HSBC kicked off the UK banking sector’s earnings season today by revealing “strong momentum” after net interest income surged on the back of rising interest rates and it retained a “tight grip” on costs.

Evening Standard

Baht drifts lower as Asian currencies fall

The baht continued to drift below 38 to the US dollar as most Asian currencies headed for weekly losses on Friday.

Bangkok Post

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Business: Rupee Falls Below 83 Versus Dollar

The rupee plunged 61 points to dip below for the first time and closed at a record low of 83.01 against the dollar. Read more on Dynamite News:

Dynamite News

As dollar spikes, can China win the 'currency war'?

With the Federal Reserve maintaining high-intensity rate hikes, the currencies of China, Japan, and South Korea, all major Asian economies, have been more or less affected to varying degrees, and are under increasing pressure of depreciation. The exchange rates of the Chinese renminbi (with the offshore exchange rate as a…

Bangkok Post

Syrian Pound Hits Record Low on Black Market

Syria's pound hit a new low against the dollar on the black market Tuesday, according to websites monitoring the exchange rate, in the latest blow to the war-battered economy. The exchange rate reached more than 5,000 Syrian pounds to the US dollar for the first time since the start of…

Asharq Al-Awsat

The Rupee’s Fall Against US Dollar Not Welcome By Indian IT Industry, Unlike Before

Indian IT firms are facing unprecedented margin pressure owing to high employee attrition, rising wage cost.

Zenger

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Bank of England steps in to calm markets AGAIN as Therese Coffey insists pensions are safe

The Bank of England has intervened again to try and calm markets, as it confirmed it will now begin to purchase index-linked gilts, government bonds with interest payments in line with inflation

Daily Mirror

Ghana and the IMF: debt restructuring must go hand-in-hand with managing finances better

Ghana is struggling with managing its debt, 20-year high inflation, a weak currency, and rising inequality. For example, inflation rose to 33.9% in August 2022 from 9.7% a year earlier, while the cedi has depreciated by 41% year-to-date against the US dollar. These vulnerabilities have been worsened by the aftershocks…

The Conversation

China's yuan becomes most traded foreign currency on Russian exchange

HONG KONG: The yuan surpassed the US dollar for the first time this week to become the most traded foreign currency on the Moscow exchange as tensions with the West push the Russian economy closer to China.

Bangkok Post

Volatility of sterling disrupts winter sun holiday planning – survey

The pound plunged to historic lows against the US dollar in the wake of Chancellor Kwasi Kwarteng’s mini-budget on September 23.

The Independent UK

Avoid stocks negatively affected by rate hikes

We expect the SET Index to continue to be volatile given the higher global recession risk, as many central banks are expected to keep raising interest rates to fight inflation. Adding to the negative factors, the US dollar continues to strengthen against other currencies and the prolonged Russia-Ukraine war has…

Bangkok Post

Rupee falls 15 paise to close at all-time low of 82.32 against US dollar

MUMBAI: The rupee depreciated 15 paise to close at an all-time low of 82.32 (provisional) against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit.

The Times of India

Gold bounces back on weak dollar, US economic data

Gold prices rebounded sharply to pass US$1,700 an ounce as the US dollar weakened and recently released US economic data were worse than expected.

Bangkok Post

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ABC News

The Aussie dollar is dropping against the US currency, but it’s not all bad news

A higher US dollar isn't great news for global trade, but some Australian businesses are able to benefit and travellers have reason to smile as well.

Asharq Al-Awsat

Oil Jumps More Than $3 as OPEC+ Weighs Output Cut

Oil prices jumped by more than $3 on Monday as OPEC+ considers reducing output by more than 1 million barrels per day (bpd) to buttress prices with what would be its biggest cut since the start of the COVID-19 pandemic. Brent crude futures rebounded $3.37, or 4%, to $88.51 a…

The New Daily

Market Wrap: Volatility continues with pound’s flash-crash and a bearish US dollar

Volatility expected to remain heightened (in ‘both directions’) until the Fed manages to get inflation back under control.

Bangkok Post

Indonesia seeks to reduce dollar reliance

Indonesia’s central bank is seeking to reduce the country’s reliance on the US dollar, with plans to allow domestic transactions of non-deliverable forward contracts (NDFs) in other currencies and to strike more agreements on local-currency settlement.

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Bangkok Post

Hong Kong defends currency peg amid outflow of capital chasing US dollar assets

HONG KONG: The Hong Kong Monetary Authority (HKMA) on Wednesday intervened in the foreign-exchange market for the first time in seven weeks to defend the local currency's peg against the US dollar, following flight of capital from the Hong Kong dollar market after US rates rose to a 14-year high…

France 24

China's Yuan falls to lowest level since 2008 global financial crisis

Like many other world currencies, China's onshore and offshore Yuan both fell against the dollar on Wednesday, increasing the pressure on the People's Bank of China to intervene directly. The drop is a result of the strong US dollar following the Federal Reserve's rate hikes, coupled with Beijing's more dovish…

Daily Mirror

IMF launches stinging attack on Kwasi Kwarteng tax cut plans in 'very serious' warning

Chancellor Kwasi Kwarteng spooked markets this week after delivering his Mini-Budget, with the pound plunging to an all-time low against the US dollar and mortgage deals being pulled

ABC News

What's happening with the British pound and what does it mean for Australia's economy?

With the UK government fighting off fears of a recession, the British pound tumbled against the US dollar this week. Here's why stock markets are concerned and what it means for Australia.

Bangkok Post

Gold to see volatility in short term

Gold prices should remain volatile in the short term amid the strengthening US dollar and rising interest rates, but the outlook is positive as investors buy gold to hedge against uncertainties in the global financial market, say the World Gold Council.

Daily Mirror

Everything you need to know after pound hit all-time low against US dollar

The pound has hit a record low after sweeping tax cuts were announced by the chancellor on Friday. Here we explain some of the reasons behind the fall and how it affects households and businesses across the country

Al Jazeera

Why is the British pound tanking as the US dollar soars?

Sharp fluctuations of major currencies inject new uncertainty into fraught global economic outlook.

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