IMF Bailout Approval Helps Zambian Kwacha Take the Russian Ruble’s Position a...
After the International Money Fund revealed it had approved a bailout package for Zambia, the Southern African country’s currency, the kwacha, rallied by 3.1%. Following this gain, the kwacha took the Russian ruble’s position as the world’s best-performing currency in 2022. Zambia Still ‘Has a Long Way to Go’ The Zambian kwacha currency, which currently trades at K15.40 for every dollar, became the world’s best-performing fiat currency when it was announced that the International Monetary Fund (IMF) had approved the $1.3 billion bailout for the....
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The dramatic fall of the Russian ruble has resulted in a marked increase in ruble/Bitcoin trades across the market. Russian activity in Bitcoin, which is subject to an unfavorable yet shaky legal status in the country, spiked Tuesday in the aftermath of the ruble’s biggest retreat in 16 years. As CNBC reports, trading ruble for Bitcoin increased almost fourfold on the day, the highest level since December 2013, making Bitcoin one the few currencies to actively benefit from the ruble’s sudden decline. “The high trading volumes with the ruble is to be expected, given the flight away from....
Bitcoin has broken record levels against at least nine world currencies as its U.S. dollar price marches toward $20,000. Bitcoin (BTC) is just a few thousand dollars away from its all-time high near $20,000 U.S. dollars. However, while much of the crypto industry watch Bitcoin’s price action in U.S. dollar terms, BTC has already achieved all-time high prices relative to numerous other world currencies.In an Oct. 22 tweet, Alistair Milne mentioned seven countries in which Bitcoin had already reached its all-time high relative to those countries' native fiat currencies. In the same tweet, he....
Macro markets and geopolitics dominated the news this week, with Russia cutting off Europe’s gas supply, hedge funds betting against Italian debt, and the International Monetary Fund’s bailout for Zambia helping the kwacha overtake the ruble as the world’s best-performing currency. Also in this week’s news, Ethereum co-founder Vitalik Buterin discusses the crypto economy crash and Bitcoin’s long-term security.
Russia Shuts Off Europe’s Main Gas Pipeline Until the West’s Sanctions Are Lifted, Iran Tempts EU With Similar Deal....
Hours after Greece had officially defaulted on its bailout loan from the International Monetary Fund. Eurozone ministers were already discussing terms of a new bailout loan to keep the country afloat. Officials today will decide whether or not an emergency loan to Greece from the European Central Bank. The meeting where ECB ministers will decide as much is only the first of two meetings that are to happen this afternoon, the other being in regards to Greece's request for a new bailout amounting in nearly 30 billion Euros and lasting two years. Many expect a tidy end to a short-lived crisis....
According to information provided last week to the Russian newspaper Izvestia, the Russian Central Bank will meet with representatives of the financial community to establish a position on Bitcoin and cryptocurrencies in general. A source close to the Bank of Russia told Izvestia that the governor might be open to cryptocurrency and that the central bank may allow, and regulate, some Bitcoin activities, specifically transfers, payments, and settlements between users. Elvira Nabiullina, governor of the Russian Central Bank, provided clarifications on the position of the central bank on....