alltime monetary support forex tanks chinese payments somaiya income 2022 higher stronger snap currencies nearing selloff reserves accused slips trading weak minister gdp million traders drops trade stocks budget rajapaksa

Articles for Forex, search results for crisis

Bangladesh cuts power imports from Adani Power by half amid payment disputes, bribery charges, forex crisis
2 weeks, 6 days ago

Bangladesh cuts power imports from Adani Power by half amid payment disputes, bribery charges, forex crisis

Live Mint  

Bangladesh has slashed its electricity imports from India’s Adani Power by half, citing reduced winter demand and unresolved payment issues amounting to hundreds of millions of dollars, according to government officials, as reported by Reuters. Adani Power reduced its supply on October 31, citing delayed payments from Bangladesh, grappling with a foreign exchange crisis. High Costs Under Scrutiny Adani’s power …

India Bangladesh Power Reuters Adani Bpdb
Paytm crisis: No forex violations found by probe agency yet, says report
10 months ago

Paytm crisis: No forex violations found by probe agency yet, says report

India Today  

An investigation into potential foreign exchange breaches at Paytm Payments bank by the Enforcement Directorate of India hasn't uncovered any violations yet, according to a government source familiar with the situation, news agency Reuters reported. Since the Reserve Bank of India's announcement on January 31st that Paytm Payments Bank couldn't take in new funds, Paytm's shares have plummeted by over …

Payments Bank Reuters Paytm Paytm Payments Bank
‘Very thin budget’: Forex shortage triggers cost-of-living crisis in Malawi
1 year, 2 months ago

‘Very thin budget’: Forex shortage triggers cost-of-living crisis in Malawi

Al Jazeera  

Malawi says its forex reserves are ‘nearly empty’. “The pandemic destabilised tobacco export and when the war started, the prices of chemical fertiliser skyrocketed, meaning that we couldn’t afford the quantities that we needed any more,” he said. ‘The worst is yet to come’ To stabilise dwindling forex reserves, Malawi’s central bank devalued the kwacha by 25 percent last May. …

Country Malawi Forex Blantyre Tchereni Kwacha Kambale
Pakistan granted rollover on $2.4bn Chinese loan: minister
1 year, 4 months ago

Pakistan granted rollover on $2.4bn Chinese loan: minister

The Hindu  

China has granted Pakistan a two-year rollover on a $2.4 billion loan, Islamabad said Thursday, giving the debt-saddled nation breathing space in its balance-of-payments crisis. Soaring inflation, shrinking dollar reserves and crippling foreign debt led Pakistan to the brink of default before a pivotal $3 billion IMF bailout was granted earlier this month. Finance Minister Ishaq Dar said China's EXIM …

Pakistan Imf Billion Loan
Pakistan economic crisis: Many firms closed, inflation high, forex reserve falls
1 year, 10 months ago

Pakistan economic crisis: Many firms closed, inflation high, forex reserve falls

Live Mint  

Pakistan economic crisis: Several biggest companies in the crisis-hit country have halted operations as they ran out of raw materials or foreign exchange which has compounded the troubles of an economy that's trying to avert a debt default, as per Bloomberg reports. Ghandhara Tyre & Rubber Company, which manufactures tires and tubes for automobiles, shut its plant on February 13, …

Pakistan Country Limited
Pakistan economic crisis: Inflation, forex reserves among 5 worrisome indicators
1 year, 10 months ago

Pakistan economic crisis: Inflation, forex reserves among 5 worrisome indicators

Live Mint  

Pakistan has been struggling with an economic downfall for the last few months with multiple indicators clearly suggesting that the country is battling its worst nightmare since 1971 when the country lost a war against India and partitioned from Bangladesh. Let's know Pakistan's economic situation with these economic indicators, 1) External debts jump by 70% Pakistan's external debt servicing rose …

Pakistan Country Debt Servicing Quarter Imf Dawn Reserves
Pakistan central bank’s forex reserves fall to near four-year low
2 years ago

Pakistan central bank’s forex reserves fall to near four-year low

Al Jazeera  

Announcement by the State Bank of Pakistan comes as the country is in dire need of foreign aid. Islamabad, Pakistan – Pakistan’s central bank says its foreign exchange reserves have fallen to $6.7bn, its lowest level in nearly four years as the country battles an economic crisis. Thursday’s announcement by the State Bank of Pakistan came as the country is …

Pakistan Bank Pay Country Foreign Low Imf
More global forex turmoil ahead
2 years, 2 months ago

More global forex turmoil ahead

China Daily  

A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. Huge forex interventions As the world economy is teetering at the edge of still another global recession, the Fed's belated and aggressive tightening is causing huge monetary shocks in the world economy. Nevertheless, these huge forex interventions take place in the most …

Global India China Japan World Crisis Billion
‘India’s forex reserves to dip by $23 billion by December’
2 years, 2 months ago

‘India’s forex reserves to dip by $23 billion by December’

The Hindu  

India's depleted foreign exchange reserves are likely to drop further, falling to their lowest level in more than two years by end-2022, as the Reserve Bank of India continues to defend the rupee from the mighty dollar's rise, a Reuters poll found. In a battle that has so far failed to staunch the rupee's fall to a record low against …

India This Year Billion Rbi Reuters Rupee Reserve
Is the declining rupee a crisis or an opportunity?
2 years, 4 months ago

Is the declining rupee a crisis or an opportunity?

The Hindu  

The rupee’s steep slide to the 79-to-a-dollar range is bound to impact importers, widen the current account deficit and increase the value of India’s external debt burden. Zico Dasgupta and Indranil Pan discuss whether the declining rupee presents a crisis or an opportunity, in a conversation moderated by Bharat Kumar K. Edited excerpts: The declining rupee has several consequences. If …

India Policy Fiscal Policy Indian Interest Currency Crisis
Will India face Sri Lanka, Pakistan-like economic crisis? Raghuram Rajan's reply
2 years, 4 months ago

Will India face Sri Lanka, Pakistan-like economic crisis? Raghuram Rajan's reply

Hindustan Times  

Former Reserve Bank of India governor Raghuram Rajan on Saturday said the central bank has done a good job in increasing the foreign exchange reserves and the country would not face the economic problems like Sri Lanka and Pakistan. Sri Lanka’s inflation surged to 60.8 per cent in July, up from 54.6 per cent in June, the crisis-hit country's statistics …

India Pakistan Sri Lanka Inflation Economic Billion Cent
Going South: Emergency in Sri Lanka, Forex Dip in Pak & Nepal's Money Woes Put India's Neighbours on Back Foot
2 years, 7 months ago

Going South: Emergency in Sri Lanka, Forex Dip in Pak & Nepal's Money Woes Put India's Neighbours on Back Foot

News 18  

Sri Lanka’s deepening economic crisis took a turn for the worse on Friday night when President Gotabaya Rajapaksa declared a state of emergency in the island nation amid mounting public resentment. Nepal Last week, Nepal banned imported liquor, playing cards and nearly a dozen other “non-essential” goods to address the Himalayan country’s widening trade deficit and declining foreign currency reserves. …

India China Pakistan Sri Lanka Reserves Forex Reserves Money Woes
Colombo Stock Exchange to remain shut for 5 days as Sri Lanka struggles to combat forex crisis
2 years, 8 months ago

Colombo Stock Exchange to remain shut for 5 days as Sri Lanka struggles to combat forex crisis

India Today  

The Colombo Stock Exchange will remain temporarily closed for a week from Monday to provide investors an opportunity to have "more clarity and understanding" of the current economic conditions in crisis-hit Sri Lanka that would help them "to make informed investment decisions," it was announced on Saturday. "The stock market will remain temporarily closed for a period of five business …

Market Sri Lanka Economic Stock Sec Colombo Stock Exchange Forex Crisis
Crisis-hit Sri Lanka announces debt default
2 years, 8 months ago

Crisis-hit Sri Lanka announces debt default

India TV News  

Highlights Sri Lanka’s external debt servicing obligations were thought to be over USD 6 billion In January, a USD 500 million sovereign bond payment was settled In July, another one-billion-dollar payment becomes due Faced with critically low forex reserves, Sri Lanka on Tuesday announced that the crisis-stricken country will default on its external debt pending a bailout package from the …

Sri Lanka Debt Crisis Lanka Sri Sri Lankan
Sri Lanka's forex crisis bodes ill for tottering economy
2 years, 8 months ago

Sri Lanka's forex crisis bodes ill for tottering economy

The Hindu  

A t 11.20 a.m. on March 30, as the Chennai -Colombo SriLankan Airlines flight began its descent in Colombo, an announcement over the aircraft’s public address system gave out the usual instructions laced with pleasantries, welcoming all passengers to the Bandaranaike International Airport. Use only banks or authorised foreign exchange dealers appointed by the Central Bank of Sri Lanka to …

India Market Sri Lanka Money Bank Crisis Colombo
Sri Lanka Economic Crisis: Street Lights Off, Forex Reserves Exhausted; What Led To Chaos?
2 years, 8 months ago

Sri Lanka Economic Crisis: Street Lights Off, Forex Reserves Exhausted; What Led To Chaos?

News 18  

The economic crisis in Sri Lanka is deepening and the government there is taking strict measures, including imposing emergency, to deal with the protests over the country’s worst financial woe in decades. Forex Reserves Sri Lanka’s foreign exchange reserves have depleted by 70 per cent to USD 2.3 billion as of February in the past two years, thus impacting the …

Sri Lanka Pay Cent Lanka Street Lights Forex Reserves Reserves Sri
Explained | What caused the Sri Lankan economic crisis?
3 years, 3 months ago

Explained | What caused the Sri Lankan economic crisis?

The Hindu  

The story so far: Sri Lanka’s government declared an economic emergency last week amid rising food prices, a depreciating currency, and rapidly depleting forex reserves. The Sri Lankan government has blamed speculators for causing the rise in food prices by hoarding essential supplies and has declared an economic emergency under the Public Security Ordinance. Further, Sri Lanka’s central bank earlier …

Food Sri Lanka Prices Foreign Exchange Crisis Essential Goods Sri
EXPLAINED: Why Sri Lanka's Food Crisis Is Actually A Forex Problem
3 years, 3 months ago

EXPLAINED: Why Sri Lanka's Food Crisis Is Actually A Forex Problem

News 18  

Long queues have been reported at food markets and prices of staples are trending upwards as Sri Lanka grapples with an economic crisis that has hit imports and now forced the government to declare an emergency. According to reports, Sri Lanka President Gotabaya Rajapaksa declared the emergency under the public security ordinance with a view to stabilising the prices of …

Food Sri Lanka Prices Country Imports Crisis Covid
Sri Lanka declares economic emergency to contain food prices as forex crisis worsens
3 years, 3 months ago

Sri Lanka declares economic emergency to contain food prices as forex crisis worsens

The Hindu  

Sri Lankan President Gotabaya Rajapaksa has declared an economic emergency to contain soaring inflation after a steep fall in the value of the country's currency caused a spike in food prices. President Rajapaksa on Tuesday declared the state of emergency under the public security ordinance to prevent the hoarding of essential items, including rice and sugar. “The president has promulgated …

Sri Lanka Emergency Rice Prices Lanka Sri