Latest Currency markets News

Merck sets 2023 earnings expectations below Street forecasts

Feb. 02, 2023 09:43 AM EST

Merck beat fourth-quarter expectations thanks to more sales of its blockbuster cancer drug Keytruda, but the company’s early view on 2023 underwhelmed Wall Street. Shares of the drugmaker slid Thursday after Merck released an earnings forecast that fell well short of projections...

Targeting Iran, US tightens Iraq's dollar flow, causing pain

Feb. 02, 2023 06:19 AM EST

BAGHDAD (AP) — For months, the United States has restricted Iraq’s access to its own dollars, trying to stamp out what Iraqi officials describe as rampant money laundering that benefits Iran and Syria. Iraq is now feeling the crunch, with a drop in the value of its currency and public anger...

Cash-strapped Pakistan's rupee plunges amid talks with IMF

Jan. 26, 2023 10:02 AM EST

ISLAMABAD (AP) — Cash-strapped Pakistan’s currency plunged Thursday against the dollar after the government indicated it was ready to comply with tough conditions set by the International Monetary Fund for the next tranche of its bailout package. Pakistan is seeking a crucial...

Hundreds in Baghdad protest devaluation of Iraq's currency

Jan. 25, 2023 06:36 AM EST

BAGHDAD (AP) — Hundreds of protesters rallied Wednesday near the Central Bank in the Iraqi capital, Baghdad, angered by the recent devaluation of the Iraqi dinar and demanding the government take action to stabilize the currency. The protesters — mainly young people — rallied...

Proposed Brazil-Argentina common currency is met with doubts

Jan. 23, 2023 17:07 PM EST

RIO DE JANEIRO (AP) — A proposal floated by the leaders of Brazil and Argentina to launch a common currency is being met with deep skepticism by analysts, who say neither country is positioned to tackle such a complicated undertaking or instill confidence in the idea with global markets. ...

Iraqi PM replaces Central Bank governor over currency drop

Jan. 23, 2023 12:28 PM EST

BAGHDAD (AP) — Iraq’s prime minister on Monday replaced the governor of the country's Central Bank following a weekslong plunge of the Iraqi dinar, the state news agency reported. Prime Minister Mohammed Shia al-Sudani made the move after the governor, Mustafa Ghaleb Mukheef,...

Another round of Coinbase job cuts, 20% of workforce let go

Jan. 10, 2023 07:29 AM EST

NEW YORK (AP) — Cryptocurrency trading platform Coinbase is cutting approximately 20% of its workforce, or about 950 jobs, in a second round of layoffs in less than a year. The company cited adverse economic conditions and disruptions within cryptocurrency markets. ...

Egyptian pound sees largest single-day fall since IMF deal

Jan. 06, 2023 05:46 AM EST

CAIRO (AP) — The Egyptian pound tumbled on Wednesday in its largest single-day slide since the cash-strapped government agreed to a $3 billion International Monetary Fund deal in mid-December, authorities said. The pound fell from around 24.7 for $1 to just over 26.3 against the...

South Asian eateries try ‘going local’ as recovery strategy

Dec. 31, 2022 00:04 AM EST

NEW DELHI (AP) — Hotels and restaurants across South Asia have had to adapt and reimagine dining out since the pandemic ripped through the region, forcing many out of business. Those that have survived are tapping local sources and going online. In India, from...

Iran replaces central bank governor amid currency crash

Dec. 29, 2022 12:33 PM EST

DUBAI, United Arab Emirates (AP) — Iran appointed a new head of its central bank on Thursday after the currency crashed to its lowest level ever against the dollar amid mass protests and ongoing Western sanctions. Mohammad Reza Farzin, 57, a senior banker and former deputy finance...