Libya’s central bank has dismissed as baseless recent rumours that the country is facing dollar shortages due to a loss of oil revenues, a bank official said yesterday.
The North African country has been struggling for nine months with disruptions in its key oil industry due to protests at oilfield and ports across the desert nation. The central bank has said it has dollar reserves worth more than $115bn.
Musbah Al Akari, head of the central bank’s markets department,…
DB, the largest player in foreign exchange with a market share of 15.2% -- has been hit with losses as a result of unpredictably volatile emerging market currencies. Should we buy that this may just be a temporary lag in performance, or will it be the new normal?…Continue
The Rand rallied in line with other developing nations, erasing its 2014 decline against the USD as the outlook for global economics helped emerging-markets positive view.
All 16 major currency rates of emerging markets strengthened against the USD.…Continue