Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar.Exchange companies in the Kingdom are experiencing a significant surge in demand for the Jordanian dinar, surpassing interest in other foreign currencies, the Petra news agency said.Speaking to Petra, Firas Marwan Sultan,...
Stock markets rise globally on cooling US inflation
Stock markets jumped after data showed US inflation slowed further in May, raising hopes the Federal Reserve will pause its interest rate-hike campaign. Wall Street indices advanced at the open while European markets climbed after official figures showed US consumer prices rose by 4.0 percent year-on-year in May, compared to...Economic crisis, Ukraine war impact Arab currencies
The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while another six experienced growth.
Unified financial network set to boost Gulf economies
GCC countries are accelerating economic integration by activating the financial links between companies, banks, and stores to make life smoother for citizens and residents.High demand for G6 currencies leads DGCX trading volumes
The Dubai Gold & Commodities Exchange (DGCX) recorded a monthly Average Open Interest (AOI) of 134,154 contracts during the month of March, and registered trading volume with a total value of $15.74 billion. In response to further inflation, policy decisions and continued geo-political conflict around the globe, there was a...
90 percent of Arab transactions made in six currencies: AMF director general
Six currencies account for 90 percent of transactions in the Arab world, said Dr. Abdulrahman bin Abdullah Al Hamidy, Director-General and Chairman of the Board of Executive Directors of the Arab Monetary Fund (AMF). The currencies are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the...
Tunisia allows digital sector firms to bid in convertible foreign currencies
The Central Bank of Tunisia (BCT) has authorized companies operating in the digital sector to bid for public tenders in convertible foreign currencies. Tunisian media reports, citing the National Federation of the Digital Sector, have said that bidding has been allowed within the framework of calls for tenders for imported...
