archivetrade

Some of emerging Asia’s biggest central banks look to be dialling back their interventions in the currency market.The central banks of India and Malaysia have reduced the size of some derivatives positions they use to weaken their currencies. Taiwan has allowed its currency to surge against the US dollar in recent weeks and dropped hints it would be comfortable with more if the moves were “orderly”. South Korea’s giant national pension fund has ended its five-month support of the won.A major reason for these moves is a simple change in...

BRICS nations to discuss greater use of national currencies for trade at the upcoming Rio summit, amid US dollar uncertainty. A BRICS common currency is deemed impractical.New Delhi, Jun 21 (PTI) Weeks before top BRICS leaders converge in Rio de Janeiro for summit talks, envoys of leading member nations of the grouping hinted that it could focus on greater use of national currencies for trade in the face of uncertainties over Trump administration's aggressive policy on tariff.Russian Ambassador Denis Alipov reaffirmed Moscow's strong support for trade in local currency among...

The Ministry of Foreign Affairs, in collaboration with the National Investment Commission (NIC) and the Liberia Chamber of Commerce (LCC), has announced an upcoming Trade and Investment Conference under the theme "Bridge to Prosperity." Scheduled to take place today, Tuesday, June 17 to 21, 2025 in Monrovia, the five-day event will bring together a delegation of prominent U.S. investors and business leaders to explore trade and investment opportunities across Liberia's key economic sectors. This flagship initiative is a hallmark of the Ministry's economic diplomacy agenda, under the leadership of Sara...

The dollar has sunk to its lowest in three years as rapidly changing US trade policy unsettles markets and expectations build for Federal Reserve rate cuts, fuelling outflows from the world’s biggest economy.While the dollar was higher on Friday, lifted by safe haven flows as Israel launched a strike on Iran, it was still set for its biggest weekly drop in a month.It is also down almost 10% against a basket of major currencies this year, leaving other countries grappling with unanticipated FX moves that are having a knock-on impact...

It’s been a tough few months for believers in the currency market version of Pax Americana.Dollar critics confidently proclaim that its reign is over. In Asia, this is a "sell America” moment. Any sane investor is scouring the planet for an alternative — one that offers all the advantages of the incumbent but none of the downside. Europeans also want in, extolling the virtues of the euro.Good luck with that. One of my reservations about this bearishness isn’t that the upheavals induced by U.S. President Donald Trump — tariffs, an...

Indonesia is bulking up its defence regardless. In January, when Japanese Prime Minister Shigeru Ishiba visited Jakarta, it was announced that Japan would give Indonesia two high-speed patrol boats and boost regional maritime security cooperation. In 2023, the Indonesian military was the only one from ASEAN that participated in a two-week training exercise between Australia and the US. Experts have pointed out that these war games, called Talisman Sabre, are designed with China in mind. It is a balancing act, however, for Indonesia: Jakarta and Beijing have plans for joint...

New Delhi: An American proposal to tax money sent abroad by non-US citizens is raising concerns in India. If passed, this 5% tax on remittances could significantly impact Indian households and the country’s currency, potentially causing India to lose between $12 billion and $18 billion annually in foreign currency inflows, according to a report released by trade think tank Global Trade Research Initiative (GTRI) on Sunday.The tax is part of a bigger legislation, dubbed “The One Big Beautiful Bill,” introduced in the US House of Representatives on 12 May. It...