Kenya wants to keep the shilling’s value artificially high, but it will soon realise that foreign currency reserves, used for intervention, are not limitless
US treasury secretary Janet Yellen.
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Geopolitical shifts that are dividing the world could create problems for the US dollar, traditionally the dominant currency globally for trade and investment.
The pound is up about 30% against the US dollar since autumn 2022.
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Talk of a joint BRICS currency feeds into ‘decline of the dollar’ rhetoric. But it is the economic bloc’s focus on innovation that will reshape the international system.
So much international trade happens in dollars that it would be very difficult to turn the tide against the currency any time soon.
China and the U.S. compete to be the world’s largest economy, but the dollar dominates the yuan as a currency.
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Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.
All of South Africa’s wheat production takes place during the winter months.
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A third of South Africa’s farming income depends on irrigation. Disruptions in power supply put huge chunks of the country’s agricultural fortunes at risk.
Speaker Kevin McCarthy said the House would vote on a debt ceiling bill ‘within weeks.’
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House Speaker Kevin McCarthy agreed to raise the debt ceiling – and avoid an unprecedented US default – but only if Democrats agree to freeze spending and agree to several other demands.
As President Biden begins meeting with congressional leaders to resolve the debt ceiling showdown, an economist warns the consequences of a default could be dire.