Thursday, February 12

Tag: currency

Trump accuses China of ‘manipulating’ its currency
World

Trump accuses China of ‘manipulating’ its currency

US President Donald Trump has accused China of manipulating its currency to combat US tariffs. The accusation, made in an interview with Reuters news agency, resembles claims Mr Trump made during his 2016 campaign but had avoided more recently. It comes as the two countries prepare to meet in Washington this week to discuss the ongoing trade fight. Many doubt that the talks, which involve lower level officials, will be successful at defusing the tensions. Mr Trump told Reuters he does not expect much out of the meeting, which follows failed negotiations this spring. He also said he had "no time frame" in mind to bring the clash between the economic giants to a close. Trade war in progress In July, the two countries imposed a first round of tit-for-tat tariffs, on trade worth...
Sri Lanka Central Bank determined to curb unwarranted depreciation of the rupee
LOCAL

Sri Lanka Central Bank determined to curb unwarranted depreciation of the rupee

Sri Lanka's Central Bank says it is determined to curb unwarranted depreciation of the rupee since the underlying fundamentals do not warrant the current pressure on the Sri Lanka currency. The Bank in a statement released today said the gross external reserves are presently at a healthy USD 9.1 billion and the real effective exchange rate indices indicate that the currency is competitive. "The pressure on the currency is, therefore, unwarranted," the Bank stressed. The following inflows are expected to boost the current robust level of reserves in the coming weeks. - USD 250 million as the next tranche of the IMF EFF in early June; - USD 585 million as the final payment on the long lease of the Hambantota port during the 2nd week of June 2018; and - USD 1 billion as the ...