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The Syrian central bank recently announced the nearly 50% devaluation of the Syrian pound’s exchange rate versus the greenback from 3,015 per dollar to 4,522 per dollar. The central bank also warned currency speculators that it will take steps to end activities that undermine the stability of the exchange rate. Currency Collapse Worsens the Plight … Read more
Harare Institute of Technology, a Zimbabwean higher learning institution, is reportedly developing a central bank digital currency (CBDC). Quinton Kanhukamwe, the institution’s vice chancellor, said the digital currency is expected to help eliminate vices such as currency manipulation and unsanctioned foreign exchange deals. Eliminating Illegal Foreign Exchange Deals A Zimbabwean tertiary learning institution, the Harare … Read more
What started out as a trade dispute between the world’s two largest economies is now a full-blown currency war as the U.S. and China bring their big guns to the battlefield. The impact on the global financial markets was immediate and severe, driving up safe-haven assets as ordinary people fear losing the value of their … Read more
