While the official exchange rate has been fixed at 1,470 Iraqi dinars against the dollar, the currency was trading at up to 1,600 to the greenback on local markets from mid-November, before settling at about 1,570 dinars, according to state media.

Traders' conviction at the beginning of a new trading year always tends to be low for fear of catching the wrong move. At the same time, however, the fear of missing out (FOMA) can also drive a rapid buildup in positioning which subsequently can be left exposed should a change...

Cairo, Egypt--Public anger has been growing for months in Egypt over a severe dollar crunch and soaring food prices. But for many a money-saving tip from a state body has been the last straw. As families have struggled to purchase household staples, an Egyptian government agency praised an alternative, cheap protein...

One US dollar traded at 1,580 Iraqi dinars on the street Tuesday, against the central bank rate of 1,470 dinars, state news agency INA reported. The drop began about two weeks ago, sparking alarm in the media.

Wednesday's much-anticipated minutes showed most US central bank chiefs felt smaller increases would "likely soon be appropriate" as the economy shows signs of weakness following almost a year of monetary tightening.

During the COP26 climate summit last year, the government boldly promised to end the construction of new coal plants and phase out the dirtiest of those already running, even as energy demands soar in the manufacturing powerhouse.

Scuttling an "international trafficking attempt" to West Africa, Morocco has made a large seizure of more than two million amphetamine-type captagon pills on the kingdom's northern coast. The drugs were hidden inside a goods container onboard a maritime transport ship headed from Lebanon to West Africa.

Tokyo, Japan— Toyota kept its annual net profit forecast unchanged on Tuesday, as the weaker yen offsets supply-chain disruptions that have forced the Japanese car giant to slash production targets. The world's top-selling automaker said it now expects to sell half a million fewer vehicles in the current financial year because...

Most markets rose on hopes the Federal Reserve would soon slow its pace of interest rate hikes, though the mood was darkened over China after President Xi Jinping tightened his grip on power. The yen weakened against the dollar after a short rally after speculation Japanese authorities had stepped into...

The British pound sank against the dollar on political uncertainty after the resignation of UK Prime Minister Liz Truss, while weak economic data added to the turmoil. The dollar strengthened also on expectations that the US Federal Reserve would press ahead with its program of bumper interest rate hikes to...

Riyadh, Saudi Arabia---Saudi Arabia’s National Center for Debt Management announced Wednesday that it has invited investors for the first partial repurchase of US dollar-denominated bonds due in the years 2023, 2025 and 2026. The Center said the process is part of the kingdom’s plan in the effective management of the...

The Lebanese pound has been officially pegged at 1,507 to the dollar since 1997, a rate that has not reflected its true market value for years as the currency has been in free fall, with multiple parallel exchange rates coexisting. The crisis has pushed most Lebanese into poverty.

Jeremy Hunt was put in place on Friday after Prime Minister Liz Truss sacked Kwasi Kwarteng as she battles to save her political career just weeks after taking the keys to Downing Street. Hunt is tipped to tear up the previous plans and warned at the weekend of tax hikes...

The exchange rate reached more than 5,000 Syrian pounds to the US dollar for the first time since the start of the conflict more than a decade ago. Syria's official exchange rate has stood at around 3,015 pounds to the greenback since Sept-- compared to 47 pounds to the dollar...

Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market, setting the stage for further interest rate hikes. Equity markets have taken a battering as the US Federal Reserve has made it clear it intends to continue raising interest rates...

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, official data showed Monday after the central bank cut interest rates despite surging prices.

Continuing with its slide against the dollar, the pound hit a record low on fears about the UK economy after the government presented a huge tax-cutting budget. Countries around the world are battling high inflation and seeking to curb it with interest rate hikes. But analysts fear such moves can...

Stock markets tumbled, the pound crashed against the dollar and oil prices slumped on growing recession fears after central banks this week hiked interest rates to fight inflation. Monetary policymakers have been forced to go on the offensive, warning that short-term hits to economies are less painful than the long-term...

Equities around the world have been clattered by fears of a recession in major economies as central banks ramp up borrowing costs to combat the highest inflation in decades, which has been compounded by the Ukraine war and supply chain snarls.

With four out of five Lebanese now considered poor according to the United Nations, the country has been desperately seeking a bailout from the International Monetary Fund.

PIF will pick up $1bn stake in Seera Group's travel unit.

Stock markets rallied Monday, building on pre-weekend momentum as investors priced in the expectation of further interest rate hikes aimed at taming decades-high inflation. The euro surged, a day after German central bank chief Joachim Nagel signaled that the European Central Bank (ECB) would probably continue raising its key rate.

Egypt has raised customs dollar to its highest level in history, a measure likely to inflate the price of imported goods.

The euro fell 0.70 percent to 0.9884 dollars Monday at 0535 GMT, its lowest since December 2002. The European currency has continued to weaken against the dollar since the start of the year, hammered by economic turbulence and uncertainties sparked by Russia's invasion of Ukraine.

Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle that will be painful for Americans. The Fed has been on a campaign to raise interest rates and Powell said at Jackson Hole that the fight against inflation is not...

Cross-currency payments cut the need for foreign transaction fees for customers, encourage customer loyalty and reduce cart abandonment but they have their drawbacks.

The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows signs of recovery

The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified.

The euro's plunge against the dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades. The European single currency sank to $0.9952 on Thursday -- a level not seen since the end of...

The euro struck parity with the dollar for the first time in nearly 20 years on Tuesday as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone.

The euro struck parity with the dollar Tuesday for the first time in nearly 20 years as a cut in Russian gas supplies to Europe heightened fears of a recession in the eurozone. The European single currency hit exactly one dollar -- its lowest level since December 2002 -- before...

The Central Bank of Iraq said Sunday that there is no reason for changing the exchange rate of the Iraqi dinar against the US dollar. The economic conditions will determine the appropriate decision that fits the time period

Adding to the uncertainty was a fresh flare-up of coronavirus cases in parts of China that has seen some cities locked down as part of officials' zero-Covid policy.

Tadawul has posted more than 30 trades in single-stock futures on its launch as Aramco and Saudi Telecom Co. led the trading.

The UAE government has announced it will issue a dual-tranche US dollar benchmark size bonds with a 10-year tranche and a 30-year Formosa tranche. The 10-year tranche will be listed on London Stock Exchange (LSE) and Nasdaq Dubai, and the 30-year tranche will be listed on London Stock Exchange (LSE),...

Surging energy costs are fueling global inflation, with official data Wednesday showing the British annual rate hitting a fresh 40-year high above nine percent.

Turkey's inflation climbed to its highest level since 1998, hitting an annual 73.5 percent in May, official data showed Friday, an issue dogging President Recep Tayyip Erdogan ahead of elections next year. Critics have blamed the country's economic woes on Erdogan's unorthodox economic policy of pushing for lower interest rates...

The Indian rupee plunged to an all-time low against the greenback on Monday, as US monetary policy tightening roiled sentiment and foreign investors continued to dump domestic stocks. The rupee fell past its previous record low of 76.98 against the US dollar in March to 77.56 on Monday.

Online payments giant Stripe on Friday said it will start letting Twitter stars get paid in a dollar-pegged form of cryptocurrency in the latest endorsement of digital money.

The yen hit its lowest level against the dollar in two decades on Wednesday, extending recent falls as the gap widens between Japan's ultra-loose monetary policy and US tightening. One dollar bought 126 yen on Wednesday afternoon, the lowest rate since 2002.

Credit rating agency S&P Global Ratings on Saturday downgraded Russia's foreign currency payments rating to "selective default" after Moscow paid a dollar-denominated debt in rubles this week.

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...

Dubai ended Expo 2020 with a colorful closing ceremony punctuated by fireworks as the UAE leadership vows to 'continue to Connect Minds and Create the Future'.

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...

The value of the Egyptian pound shed 13 percent against the US dollar on Monday, registering 17.80 pounds against the greenback after a recent rise in inflation.

Lebanon's energy industry sees a loss of up to $2bn every year as state treasury pays over $50bn in advances to Electricité du Liban. Can solar power offer relief to general public?

stc, Saudi Arabia's top telecom firm, has posted a three percent increase in net profit to $3 billion in 2021 on the back of improved sales.

More than two years into a financial crisis that has seen the local currency lose 90 percent of its value, the reputation of Lebanese lenders has been shredded.

Nawy, a Cairo-based property dealer, obtained a seed funding round of $5 million, led by the Sawiris family office.

Al-Dawaa, a pharmaceutical retail firm in Saudi Arabia, has set the price range for its initial public offering at SR65 ($17.3) to SR73 per share.