MEDICAL AID TO DEMAND SUBSCRIPTIONS IN FOREX newsdzeZimbabweNewsdzeZimbabwe

Thousands of struggling workers are at risk of failing to access medical services after the Association of Health Care Funders of Zimbabwe (AHFoZ) yesterday warned that it will soon start charging subscriptions in United States dollars. AHFoZ represents all medical aid societies in Zimbabwe. This comes in the wake of sharp hikes in prices of drugs and medical services by hospitals following the mayhem caused by government’s decision to introduce unpopular austerity measures in its bid to revive the sinking…

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EMERGING MARKETS-Latam FX and stocks weaken, Brazil’s…

EMERGING MARKETS-Latam FX and stocks weaken, Brazil’s real ends winning streak By Reuters Published: 15:42 EDT, 10 October 2018 | Updated: 15:42 EDT, 10 October 2018 By Susan Mathew and Claudia Violante Oct 10 (Reuters) – Latin American stocks and currencies weakened on Wednesday, with Brazil’s real currency breaking a seven-day winning streak as investors were rattled by federal prosecutors starting a probe into allegations of fraud against presidential front-runner Jair Bolsonaro’s chief economist. The real fell more than 1…

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Goldman will not rule out US naming China a currency manipulator

Goldman Sachs is not ruling out that the US might label China a currency manipulator in a report due next week. Though China doesn’t meet the three official criteria, the US’s treasury department could still accuse the Asian nation if it found that China was manipulating the yuan for trade purposes, Goldman notes. While not the bank’s base case, given that currency matters have played a “central role” in the US-China trade standoff, a formal declaration isn’t unfathomable. “Naming China…

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AUD/USD: The Market’s Cleanest Trend Keeps Trending

For bears, is the gift that keeps giving! “The Cleanest Trend in the FX Market,” as we’ve been calling the pair in our trade recommendations for months now, hit a 20-month low earlier this week. Imagine: a trader who went short the pair at its peak above 0.8100 in late January and then went to sleep for the last eight-and-a-half months would be up over 1,000 pips. Of course, it’s impossible to predict such moves in advance, but the trend’s…

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GLOBAL MARKETS-Stocks climb, with Wall Street lifted by tech, bond yield retreat – UK Money News

(Adds U.S. market open, byline and NEW YORK dateline; previous LONDON) * Beijing allows yuan to slip past 6.90 per dollar * US benchmark yields pull back from fresh 7-year top * Global stocks climb, aided by tech stocks coming off 2 month low * Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh * Asian stock markets https://tmsnrt.rs/2zpUAr4 * By Herbert Lash NEW YORK, Oct 9 (Reuters) – Equity markets climbed in Europe and the United States, with Wall Street buoyed…

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Pakistan’s currency plunges as it seeks IMF loan

ISLAMABAD — Pakistan’s currency plunged by about 7 percent on Tuesday after the government said it would seek emergency bailout loans from the International Monetary Fund. The Pakistani rupee briefly weakened to 138 to the dollar on Tuesday before settling at 133.6. The rupee was trading at 124.3 at close of business Monday, before the announcement was made. A Pakistani delegation will meet with IMF officials in Indonesia later this week. After a visit last week, the IMF said Pakistan…

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Sour risk sentiment sees currencies fall against the dollar, yen

Forex news from the European trading session – 9 October 2018 Headlines: Markets: JPY leads, EUR lags behind on the day European equities lower US 10-year yields up 1.1 bps to 3.244% Gold down 0.24% to $1,185.26 WTI up 0.54% to $74.69 Bitcoin down 0.58% to $6,584 The session started with major currencies trading tepidly but the Japanese yen was already decently bid as risk sentiment remains fragile in the wake of rising Treasury yields causing jitters in the equities…

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Market Review: “Feast or Famine”

By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The uncertainty that has prevailed over all economic activity during the last few months is finally coming to an end in a typical Iraqi fashion- extremes of either feast or famine. The parliamentary elections in May, having yielded no clear winner, led to a multi-month paralysis during which the election…

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Dollar rate in interbank market hits high at Rs138 – Pakistan

The value of the dollar shot up Rs11.70 in the interbank market on Tuesday, hitting a historical high of Rs138 as the day’s trading was underway, DawnNewsTV reported. The dollar has been on an appreciating trend, reaching Rs124.30 in the interbank market on Oct 5, with rates in the open market reaching Rs127.80 on Saturday. The interbank rate today rested at Rs124 as the market opened, rose to Rs138, then dipped slightly to Rs133. For the past few days, the…

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Rupee slides in open market – Newspaper

KARACHI: The rupee fell further against the dollar as the kerb markets opened on Monday, losing up to Rs1.20, a move that currency dealers said was triggered by the prime minister’s remarks on Sunday that his government may need to approach the International Monetary Fund for a bailout. The dollar opened at Rs128.50 in kerb market, according to the exchange companies though the exact rate would vary across the country. The interbank rate, by contrast, remained stable throughout, rising by…

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Zanu PF Youths Threaten To Raid Illeg Forex Dealers

By Terrence Mawawa|Ruling Zanu PF youths have declared war on illegal traders for igniting the country’s foreign currency black market. Their warning comes as bond notescontinue to crash precipitously against the United States dollar — causing mayhem in mainstream business and resulting in panick buying. Zanu PF youth league secretary Pupurai Togarepi yesterday said illegal money changers and their “bosses” had a week to leave the streets or face the consequences.“While patience is a virtue,…

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Emerging Markets Look to Contain the Damage

When the U.S. dollar strengthened earlier this year, investors feared emerging market economies could be in trouble. Instead many responded with moves that contained the fallout. Whether they remain in the clear will be a major discussion point for central bankers and finance ministers meeting in Indonesia this week for meetings of the International Monetary Fund and World Bank. That is because new risks are building as long-term interest rates rise in the U.S. “The major enemy most of the…

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Zim Needs To Remove “Senseless” Import, Exchange Controls To Fix Forex Shortages- Eddie Cross – The Zimbabwe Mail

Eddie Cross Former MDC politician and economist Eddie Cross has called for the government to lift import control measures and to remove exchange controls to allow the economy to recover and to  fix shortages of foreign currency and basic commodities. According to Cross, this is the only way the country’s economy will be able to recover to the same levels before Zanu-PF won the 2013 elections. Says Cross When the Minister of Finance started to get us into the awful…

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Rupee slumps to close at record low against UAE dirham

Forex dealers said the dollar’s strength against major global currencies weighed on the rupee sentiment. The rupee slumped by 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar (20.17 against UAE dirham) on Monday amid strengthening of the greenback and steady capital outflows. The rupee had opened lower by 14 paisa against Friday’s close of 73.76 in early trade as the US dollar strength against major global currencies weighed on the rupee…

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