Yen. Depreciation. Profit erosion. “A majority of Japanese companies considers the yen’s recent weakness as a negative factor for their businesses, according to a recent survey. About 64% of firms surveyed said the recent depreciation of the yen has eroded their profits …” — Bloomberg.
Bank of Japan. Yen. Bonds. “The Bank of Japan left the amount of bonds it buys at regular operations unchanged on Friday, contributing to a small decline in the yen after aiding the currency earlier in the week with a surprise reduction in purchases.” — Bloomberg.
Zimbabwe. ZiG. Currency traders. “Zimbabwe plans to extend a crackdown that’s targeting street currency traders to companies to ensure goods and services are priced using only the official exchange rate of the new ZiG currency.”— Bloomberg.
India. Foreign exchange reserves. Bonds. “India’s vast foreign exchange reserves will be the first line of defense against any market volatility arising from an expected surge in inflows once the country’s bonds are included in global indexes … ” — Bloomberg.
India. Foreign exchange reserves. “India’s foreign exchange reserves rose for a second consecutive week and stood at an over one-month high of $644.15 billion as of May 10, data from the central bank showed on Friday.” —Business Recorder.
Turkey. Foreign exchange reserves. “Turkey’s foreign exchange reserves rose by almost $9.8 billion last week, official data showed Thursday, as the central bank continues to shore up its financial buffer at a record pace since the local elections.” — Daily Sabah.
Ghana. Cedi. Foreign exchange. “The Minority in Parliament has urged the government to address the subject of the continuous depreciation of the local currency against major trading currencies.” — GhanaWeb.
Pakistan. Foreign reserves. “The State Bank of Pakistan (SBP) said Thursday that its foreign exchange reserves had increased by 15 million dollars.” — The Big News Network.
Alton Drew
17 May 2024
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Alton Drew 