Turkey's Finance Minister, Lutfi Elvan, has resigned amid another plunge in the value of the country's currency, the lira. He is being replaced by his deputy, Nureddin Nebati, who supports President Recep Tayyip Erdogan's controversial economic policies. The lira has lost almost half of its value this year as Erdogan has pushed for low interest rates, despite rising inflation. Also today, we look at how some French parents are choosing to rent toys for their children, instead of buying new ones.
The change is a key reform demanded by foreign donors and the International Monetary Fund (IMF). The country is hoping to overhaul its debt-laden, inflation-hit economy.
27 Dec 2020
Hundreds of angry Iraqis protest in several cities against a currency devaluation that has slashed their purchasing power amid a pandemic-fuelled economic crisis. The Central Bank of Iraq (CBI) at the weekend devalued the currency by over a fifth against the US dollar, officially re-pegging the dinar at a bank rate of 1,460 to the greenback.
28 Oct 2019
Center-left candidate Alberto Fernandez has capitalized on rising poverty, soaring inflation and a battered currency under conservative incumbent Mauricio Macri. A Fernandez victory has spooked markets.
27 Oct 2019
Facebook's Libra, billed as an alternative to traditional banking, has sparked concerns from central bankers and regulators around the world. The currency has been criticized as a threat to sovereignty and stability.
15 Sep 2019
Jordan Rochester, a currency strategist at Nomura International, discusses Brexit and the pound on “Bloomberg Surveillance.”
1 Sep 2019
The Chinese currency continues to slide as Beijing seeks to buffer against US tariffs. Global markets are rattled by an intensifying US-China trade war.
17 Aug 2019
Argentina's currency and the Buenos Aires Stock Exchange have plummeted, a day after President Mauricio Macri suffered a crushing defeat in a primary election. The peso has shed 15% of its value against the dollar.
10 Aug 2019
The US Treasury has designated China a currency manipulator following the devaluation of the yuan. According to the department, the yuan's steep drop gives China an unfair competitive advantage in international trade.
8 Aug 2019
The rand is scrambling but keeps slipping as it gets caught up in major global conflicts. China has retaliated with a currency move in the trade wars, Boris Johnson is set to go ahead with no-deal Brexit and U.S markets are still left reeling from the Fed rate cut. What does all this mean for the currency market? Joining me in studio for more is Andre Cilliers, Director & Currency/Markets Expert, TreasuryONE.
4 Aug 2019
Traders say the Naira depreciated at the I and E window by 14 basis points to 362 Naira, 39 kobo while parallel market rates remained flat at 360 niara. Adamma Mbachu, Head of Currency Trading at Access Bank, joins CNBC Africa for more.
14 Jul 2019
No reason was given for Murat Cetinkaya's sacking, but the governor had been loath to cut the interest rate from 24%. Over the past year, Turkey has faced skyrocketing inflation as a result of a debt and currency crisis.