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Finance

Central banks look to China’s renminbi to diversify foreign currency reserves

Central banks are looking towards the renminbi to diversify their foreign currency holdings in a sign that geopolitical flare-ups could chip away at the dollar’s dominance. The proportion of central bank reserve managers that have invested in, or are interested in investing in, the renminbi increased to 85 per cent this year, from 81 per […]

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Business

Take a Sad Song: The Emotional Currency of “Hey Jude” by James Campion

Take a Sad Song reminds us that “Hey Jude” was an unusual sounding entry on AM radio in 1968. Obviously, The Beatles were the era’s great hitmakers, perhaps alone in their ability to take a seven-minute song to the top of charts, especially since four of those minutes was a coda that went “na, na, […]

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Weird

Croatia will adopt Euro as currency in 2023 – The 2 Euro Coin will have an image of the well known Croatian born scientist Nikola Tesla

Tags: croatia, nikola tesla, euro 9111 points, 897 comments. Source link

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Weird

Excellent news for Croatia!: The country now meets all convergence criteria to adopt the euro as its currency on 1 January 2023

3629 points, 911 comments. Source link

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UK

‘Sterling’s fall from grace’ British pound faces ‘existential crisis’ as global currency

The Bank of America says the sterling “finds itself in an increasingly invidious position” for reasons including “increasingly challenging” Bank of England communication. The pound has fallen by 6.6 percent this year against the dollar, leaving the pound amongst the worst global performers against the greenback. One financial expert suggests the outlook for the pound […]

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Finance

Crypto crash: Horrified investors lose billions as digital currency markets dive

A market-wide plunge has seen more than $1.5 trillion wiped off the entire crypto market after analysts braced for a ‘crypto winter’, or cooling-off period after a stretch of digital currency fervour. Bitcoin, the world’s best-known cryptocurrency, is on the edge of an excruciating fall, according to some analysts, after its price sunk to its […]

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Finance

Hong Kong intervenes to strengthen currency for first time since 2019

Hong Kong’s central bank has intervened to strengthen the city’s currency and defend its US dollar peg for the first time since 2019, threatening to raise borrowing costs while the financial hub’s economy is still reeling from harsh Covid-19 restrictions. The Hong Kong Monetary Authority announced on Thursday that it had bought almost HK$1.6bn (US$202mn) […]

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Finance

Soaring dollar raises spectre of ‘reverse currency wars’

The surging dollar has prompted some analysts and investors to forecast a new period of “reverse currency wars” as many central banks abandon a longstanding preference for weaker exchange rates. The new dynamic marks a departure from the period of low inflation that followed the 2007-09 global financial crisis, when historically low interest rates and […]

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Finance

Yen’s tumble stirs debate in Tokyo over merits of weak currency

A steep sell-off in Japan’s yen risks dividing policymakers in Tokyo on whether to embrace a weaker currency or push back against it, raising the stakes ahead of this week’s Bank of Japan meeting. The yen has tumbled more than 11 per cent in less than two months to hit a 20-year low of nearly […]

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Science

An Ancient Financial Crisis Has Been Discovered… in Roman Coins

Roman statesman and philosopher Marcus Tullius Cicero wrote of coins with fluctuating value in his 44 BCE essay on moral leadership. Centuries later, this briefest of mentions fueled a longstanding historical debate – one that’s just been answered by the coins themselves.   “Historians have long debated what the statesman and scholar meant when he […]