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...
Egypt curtails domestic use of energy to boost forex
An economic crisis spurred by the Ukraine war is casting darkness upon Egypt's streets, as the government dims lights to free up energy for export and bolster hard currency reserves.
Tunisia tourism revenues climb 48% to $200m by April 10
The country’s external debt services went up 5 percent, from nearly TND2 billion ($666.69 million) to about TND2.1 billion ($700.02 million).
How much gold and forex do Arab countries have?
Foreign exchange and gold reserves come in handy in many ways when a country is trying to ride out an economic crisis.
Oman central bank’s FX reserves reached $18b in 2021
The board of governors at the Central Bank of Oman expressed satisfaction with the state of the 2021 FX reserves.
Lebanon’s bank chief vows no forex raid to fund fuel unless law changed
Lebanon's central bank governor has vowed not to reverse his decision to stop subsidising fuel imports, unless parliament votes to force the monetary authority to raid its compulsory foreign reserves. The country is gripped by one of the worst economic crises since the 1850s and is struggling with shortages of...
