Russia’s central bank said today that a small easing of currency restrictions on banks, which took effect this week, will boost the supply of cash in dollars and euros in the local market. Under current rules, banks were only allowed to sell foreign currency cash bought by individuals after April 9. But starting this week, […]
Tag: Exchange
‘Jump’ for Turkish foreign exchange reserves after the influx of Russian funds
Turkey’s official reserves rose by the most since February, after Russia’s Rosatom injected cash into a Turkish subsidiary. Turkey’s total gross reserves increased by about $3 billion through last week, with gold accounting for $1.6 billion of the increase and foreign exchange the rest. Gross foreign exchange reserves stood at $61.1 billion and gold at […]
Central Bank of Russia ‘war measures’ – Restricts business access to hard currency
Russia’s central bank announced on Thursday that it was imposing restrictions on Russian businesses’ access to foreign currency for at least the next six months. During the six-month period, Russian companies and Russian businessmen who need US dollars, Japanese yen, British pound sterling or euros in cash can raise just $ 5,000 – and only […]
Turkey almost triples foreign currency deposit rates to cover losses
Turkish banks have raised interest rates on foreign currency deposits by almost 3% as they try to raise hard currency to overcome market shortages amid rising demand fueled by pound losses, banking sources said. The return on forex deposits was about 0.5% -1% and has risen to 2% -3% as the foreign exchange needs of […]
Central Bank of Russia: End of foreign exchange sales by September
The sale of foreign currency in Russia is suspended until September 9, the country’s central bank announced today, which is suffering from unprecedented sanctions from the West due to the Russian military intervention in Ukraine. Between March 9 and September 9, 2022, “banks will not be able to sell foreign currency to citizens,” the central […]
Euronext buys Borsa Italiana from LSE for € 4.325 billion
Euronext will buy Borsa Italiana, operator of the Milan Stock Exchange, from the London Stock Exchange for 4.325 billion euros, the two groups announced on Friday. The operator of the Paris, Brussels and Amsterdam stock exchanges will get their hands on that of Milan with the support of the Italian public establishment Cassa Depositi e […]