Arabtoday - Tag

the dollar

All You should Know About ‘Floating Dirham’

Casablanca - Arab Today

Morocco’s central bank governor, Abdellatif Jouahri, announced in 2016 that Morocco is aiming to introduce a flexible exchange rate system in the midst of 2017. Indeed, the International Monetary Fund (IMF) had identified the reform of the exchange rate regime as an important milestone to increase the resilience of the Moroccan economy. The IMF’s de facto classification of Morocco’s currentRead more

US trade deficit jumps to five-year high on imports

Washington – Arab Today

The US trade deficit jumped to a near five-year high in January as cell phones and rising oil prices helped to push up the import bill, suggesting trade would again weigh on economic growth in the first quarter. The Commerce Department said on Tuesday the trade gap increased 9.6 per cent to $48.5 billion, the highest level since March 2012.Read more

Morocco’s Foreign Currency Reserves Increase by 7,5%

Rabat - Arab Today

Net international reserves amounted to MAD 252.9 billion as of February 17, an increase of 7.5 percent year-on-year, according to Bank Al-Maghrib (BAM) numbers. From one week to the next, these reserves increased by 0.1 percent, says BAM, which has just published its weekly indicators, noting that during the week of February 9-15, the dirham appreciated by 0.53 percent againstRead more

Dollar firms on Fed rate hike talk, Trump promises spending boost

Hong Kong - Arab Today

The dollar firmed in Asia Wednesday after two top Federal Reserve officials suggested US interest rates could rise this month, while Donald Trump's speech to Congress received a mixed response. The greenback's rally provided fresh impetus for Tokyo stocks, but regional equity markets were subdued despite forecast-beating readings on Chinese factory activity and Australian growth. In Washington President Trump's much-anticipatedRead more

Dollar, equities stutter in Asia after Trump rally

Tokyo - AFP

The dollar dipped on Thursday in Asia as investors brushed off another record Wall Street close and upbeat US data while the rally in stock markets stuttered. Another positive assessment of the US economy and reassurance over tax reform from President Donald Trump was not enough to spur further buying in Asia after the past week's rally. New York's threeRead more

Gold retreats as Trump tax pledge lifts dollar

London - Arab Today

Gold fell on Friday, retreating further from this week’s three-month high, as US President Donald Trump’s promise of a major tax announcement boosted the dollar and upbeat data fueled talk of a near-term rise in US interest rates. Disappointment among some buyers at gold’s failure to break above the $1,245 an ounce level it tested twice this week has alsoRead more

Morocco’s Net International Reserves Up 7.9%

Rabat - Arab Today

Morocco’s net international reserves amounted to 251.5 billion dirhams until January 20, 2016, recording a 7.9 pc year-on-year increase, Bank Al-Maghrib said. During the week of January 19-25, 2016, Bank Al-Maghrib injected 14.5 billion dirhams. As for the interbank rate, it remained at 2.25%, while the average trading volume decreased from 4.3 billion dirhams to 4 billion dirhams, the centralRead more