Tag: Currency
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Philippine Remittances Rise in October But Growth Slows: What It Means
October Remittances Signal Continued Support from Overseas Filipinos Overseas Filipino workers (OFWs) and other remitters sent more money home in October, according to data from the Bangko Sentral ng Pilipinas (BSP). The monthly cash remittance figure rose for the latest month, but the pace of growth cooled compared with September’s peak. The development underscores the…
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US Dollar in China’s Sights: Yuan-Led Push for Global Trade
China’s Currency Strategy: From Domestic Reform to Global Reach In recent months, Beijing has intensified its effort to internationalize the renminbi, aiming to reduce the world’s dependence on the US dollar. The most visible move came when China pressured BHP to settle a portion of its iron ore sales in yuan, a dramatic demonstration that…
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Peso slumps to fresh record low of P59.17 per $1 amid dollar strength and political jitters
Philippine peso hits a new record low as dollar strength dominates The Philippine peso weakened for a second consecutive trading day, puncturing a fresh record low at around P59.17 per $1. The slide underscored ongoing concerns about political noise and the broad strength of the US dollar against most major currencies. Traders described the move…
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Gold Prices in Pakistan Today: Global Decline Impacts Local Market
Gold Prices in Pakistan Today Fall Amid Global Decline After a brief two-day pause, bullion markets worldwide retraced as gold prices slipped again. The international spot price declined by roughly $6 per ounce, settling around $4,001. This global movement has direct repercussions for gold markets in Pakistan, where local prices typically mirror the international trend…
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US Pennies Shortage: How Retailers Are Adapting as One-Cent Coins Fade Away
The Penny Problem: Why Stores Are Rounding Down In a surprising shift, US retailers are increasingly rounding cash sales to the nearest five or ten cents after the traditional one-cent coin has largely disappeared from circulation. Following the decision to halt new minting of the one-cent coin for circulation earlier this year, many cash transactions…
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Penny Shortage: Why US Retailers Are Running Out of Pennies
Overview: The Growing Penny Shortage In recent months, an unusual scarcity has emerged in American storefronts: pennies. Following a policy shift that paused the minting of the one-cent coin, many retailers report dwindling supplies of the humble cent. While pennies in pockets and drawers are still legal tender, the limited minting and reduced circulation have…
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Dollar Powers Through Data Void as Hawkish Fed Outlook Keeps October Rally Alive
Introduction: A Dollar Rally Amid a Quiet Economic Month The dollar closed October on a firmer note, notching its second-best monthly performance of 2025 as traders grappled with a dearth of compelling US economic data and a stubbornly hawkish Federal Reserve outlook. With official data scarce, markets leaned on liquidity cues, central-bank rhetoric, and cross-asset…
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Pennies Run Dry: How US Retailers Are Coping as One-Cent Coins Fade Away
The Penny Shortage and What It Means for US Retailers When the Trump administration halted the minting of one-cent coins earlier this year, the consequence wasn’t just a curious financial policy footnote. It set off a chain reaction through wallets, tills, and daily transactions. As the remaining pennies dwindle from circulation, retailers across the United…
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The Dollar Gets More Fuel From Powell’s Doubts About December Rate Cut
The Dollar Strengthens as Powell Casts Doubt on a December Rate Cut The U.S. dollar has found fresh momentum against other major currencies after Federal Reserve Chair Jerome Powell indicated caution about a potential rate cut in December. The comments, which suggested a more data-driven and cautious path for policy, came at a time when…
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Treasury Seeks to Reassure Public: Kenyan Shilling Stability Reflects Economic Strength
Kenya’s Shilling Maintains Ground Amid Global Voices The National Treasury has moved to calm nerves among Kenyan markets and the public by affirming that the shilling remains stable. In the wake of recent reports in some media outlets suggesting concern from international lenders such as the International Monetary Fund (IMF), the government insists that the…