Latest News for: Currency default

Edit

How bad is the US credit rating downgrade?

The Eastern Herald 27 May 2023
... AAA to D (for default), passing through B and C ... The US currency’s role as the most widely used currency in global affairs could be compromised by a default, but in the short term demand for the dollar could increase as it is seen as a safe haven in times of global turmoil.
Edit

Forex reserves drop by $6 billion to $593.45 billion

The Times of India 27 May 2023
The rupee depreciated by 0.8% versus the US dollar in the previous week, as a tumbling Chinese yuan and uncertainties regarding a US debt default hurt Asian currencies. The domestic currency registered its worst performance in nine weeks from May 15 to May 19.
Edit

‘Purely theoretical’: Govt rebuts economist Atif Mian’s criticism of its policies

Dawn 27 May 2023
Comparing Pakistan’s trajectory with that of Sri Lanka and Ghana after they defaulted, Mian pointed out that both Ghan­aian and Sri Lankan currencies had stabilised post-default as they ent­ered restru­cturing programmes.
Edit

US Treasury extends debt default deadline to June 5

China.dot.org 27 May 2023
Treasury Secretary Janet Yellen on Friday extended the earliest date of default on governmental obligations from June 1 to June 5, ... AAA-rated long-term foreign-currency issuer default rating (IDR) on a "negative watch" as the debt ceiling deadlock continued. .
Edit

Before the round of election settlement.. Concern about the course of the Turkish lira

The Eastern Herald 27 May 2023
The cost of insuring Turkish debt against default has risen 40%, international bonds have fallen 10-15% and key measures of currency market volatility over the next year or more reached record levels ... The growing imbalance in the currency market has eroded the optimism that previously attracted many foreign investments to Turkey.
Edit

Fitch downgrades US rating outlook to negative

The Eastern Herald 27 May 2023
The international rating agency Fitch Ratings has placed the US long-term foreign currency issuer default rating at “AAA” on Rating Watch’s “Negative” list ... solvency ... Market experts believe the default will shatter the country’s financial system, although the one-time consequences are not so noticeable, CNN said.
Edit

Who suffers if Pakistan defaults?

The News International 27 May 2023
While politicians and economists debate on talk shows and twitter over the inevitability or impossibility of a potential default, millions of working-class families are already feeling the crushing weight of an economic crisis which has made their survival difficult ... A sovereign default would make matters much worse.
Edit

Xinhua Headlines: So-called "de-risking" just another term for "decoupling" used by Washington, allies to contain China

China.dot.org 27 May 2023
administration ... FROM DECOUPLING TO DE-RISKING ... This is why we need to focus on de-risk -- not decouple." ... default on debt to the financial turmoil exacerbated by problematic interest hikes and the sudden collapses of several banks ... AAA-rated long-term foreign-currency issuer default rating on a "negative watch" as the debt ceiling deadlock continues.
Edit

IMF Foresees No ‘Rapid Shift’ in US Dollar Reserves Despite Rising De-Dollarization Trend

Bitcoin 26 May 2023
debt default ... to default on its debt obligations. US Dollar’s Reserve Currency Status Not at Risk, According to IMF ... dollar will maintain its world’s reserve currency status ... We don’t expect a rapid shift in (dollar) reserves because the reason the dollar is a reserve currency is because of the strength of the U.S.
Edit

DCG to close institutional trading services

OBN 26 May 2023
Digital Currency Group (DCG), a major crypto asset (virtual currency) conglomerate, will close TradeBlock, a trading service subsidiary for institutional investors, on May 31 ... If Digital Currency Group is deemed to have defaulted, the company’s funding will become even more difficult and the risk of bankruptcy will emerge.
Edit

U.S. credit rating at risk of Fitch cut on debt limit impasse

The Spokesman-Review 26 May 2023
default could trigger a recession, with widespread job losses and a surge in borrowing costs ... sovereign debt against default with derivatives has risen, and Fitch’s statement also casts the spotlight on other rating agencies to see how they might react ... from AAA after a similar brush with default.
Edit

US credit rating at risk of Fitch cut on debt-limit impasse

Lincoln Journal Star 26 May 2023
default could trigger a recession, with widespread job losses and a surge in borrowing costs ... sovereign debt against default with derivatives has risen, and Fitch’s statement also casts the spotlight on other rating agencies to see how they might react ... from AAA after a similar brush with default.
Edit

Putin Believes Decentralization Will Help Global Economy Be More Resilient

Bitcoin 26 May 2023
It will be less dependent on crisis developments in the countries that still have such an advantage as global reserve currencies. Such decentralization of the financial system would bring better preparation for events like an eventual default of the U.S ... to national currencies.
Edit

US debt a pyramid scheme – Russia’s top MP

Russia Today 26 May 2023
The comments come as Washington struggles to agree on raising its debt ceiling to avoid a default ... Countries dependent on the US dollar should start looking for alternatives such as national currencies, to reduce risks for their citizens, Volodin concluded.
Edit

Financial planning: Insurance or investment?

Business Line 26 May 2023
Unnikrishnan and Shyamala live in Bengaluru. They wanted to check if they could maintain their current lifestyle and reach their financial goals comfortably ... 1 ... Sovereign Default. While it is rare, sometimes countries have defaulted on local currency bonds also READ NOW ....

Most Viewed

In this handout photo made available by the State Emergency Service of Ukraine, firefighters hose down a Policlinic following a Russian attack in Dnipro, Ukraine, Friday May 26, 2023.
AP / State Emergency Service of Ukraine via AP
×