By Karen Brettell NEW YORK (Reuters) – The dollar fell to a two-month low against a basket of currencies and a one-year low against the euro on Thursday after U.S. producer prices unexpectedly fell in March, boosting expectations that the Federal Reserve is near the end of its rate hiking cycle. The producer price index …
Dollar dips as producer prices cool, euro hits one-year high Read More »
RABAT (Reuters) – The Moroccan government said on Thursday it adopted a decree cancelling the value-added tax on agricultural inputs to help lower prices of fresh produce and other agrifoods. Food inflation jumped to 20.1% in February, bringing general inflation to 10.1%, a level unmatched since the 1980s. The measure is in line with efforts …
Morocco cancels value-added tax on agricultural products to curb inflation Read More »
By Mohi Narayan (Reuters) – Russia boosted gasoline exports by nearly 50% year-on-year in the first quarter, shipping cargoes directly to Africa as it carved out new trade routes after the European Union sanctioned Russian oil, ship tracking data showed. Russia stepped up shipments of the motor fuel to African countries such as Nigeria, Tunisia …
Russia boosts Q1 gasoline exports, finds buyers in Africa to replace Europeans Read More »
NAIROBI (Reuters) – The Kenyan shilling edged lower against the dollar on Thursday as the manufacturing sector sought foreign currency to pay for imports, amid thin trading volumes, traders said. At 0729 GMT, commercial banks quoted the shilling at 134.00/20, compared to 133.80/134.00 at Wednesday’s close. The shilling hit 134.15/35 against the dollar on Thursday …
JOHANNESBURG (Reuters) – South Africa’s rand firmed in early trade on Thursday, ahead of a local investment conference and mining data due later in the day. At 0643 GMT, the rand traded at 18.3900 against the dollar, about 0.2% stronger than its previous close. The dollar was up around 0.1% against a basket of global …
South African rand firms before mining data, investment conference Read More »
By Andrea Shalal WASHINGTON (Reuters) – Global creditors, debtor nations and international financial institutions on Wednesday agreed ways to jumpstart and streamline long-stalled debt restructuring efforts, including through improved data sharing and clearer timetables. The World Bank, International Monetary Fund and India, current president of the Group of 20 (G20) major economies, issued a joint …
Sovereign debtors, creditors agree on steps to jumpstart debt restructurings Read More »
By Jorgelina do Rosario and Joe Bavier WASHINGTON (Reuters) – Kenya expects at least $1.2 billion in financing inflows between April and May and is in talks for new funding from the International Monetary Fund (IMF) to support falling foreign exchange reserves, its central bank governor said on Wednesday. Like much of Africa, Kenya has …
Exclusive-Kenya expects $1.2 billion Q2 financing boost, seeks fresh IMF funds Read More »
By Jorgelina do Rosario and Andrea Shalal WASHINGTON (Reuters) -Zambia could lose gains achieved so far from macroeconomic reforms if its ongoing debt restructuring is further delayed, Treasury Secretary Felix Nkulukusa said on Wednesday. The nation defaulted on its overseas debt in 2020 and is working on a restructuring with both bilateral creditors and private …
Zambia reforms could go to waste if restructuring delayed further -Treasury Secretary Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices rose 2% on Wednesday to their highest in more than a month as cooling U.S. inflation data spurred hopes that the Federal Reserve is getting closer to ending its cycle of interest-rate hikes and cushioned the impact of a small build in U.S. crude oil stocks. Brent crude …
Oil rises 2% on lower-than-expected US inflation data Read More »
By Herbert Lash NEW YORK (Reuters) – Treasury yields fell and a gauge of global stocks eased on Wednesday after the market was rattled by minutes from the Federal Reserve’s last policy meeting that indicated banking sector stress could tip the economy into a recession. Fed staff assessing the potential fallout of banking stress projected …
Dollar, stocks slip after Fed minutes spur recession fears Read More »
