BEIJING--China's foreign-exchange reserves rose in July for a fourth straight month amid a weakening dollar and the country's recovering export sector, official data showed Friday. The country's hoard of foreign exchange increased by $42.06 billion to $3.154 trillion at the end of July, according to data released by the People's Bank of China. Economists polled by The Wall Street Journal had expected a $30 billion rise in reserves in July.
The Turkish lira hit a record low against the dollar despite efforts by the country's central bank to curtail its fall. It fell 2.7% Thursday, its biggest daily decline since March 2019, erasing 17.8% of its value for this year. At the end of the session, one dollar bought 7.2399 lira, beating out the previous record close of 7.1988 set on May 6..
The Turkish lira hit a record low against the dollar despite efforts by the country's central bank to curtail its fall. It fell 2.5% Thursday, its biggest daily decline since March 2019, erasing 17.7% of its value for this year. At the currency's weakest, one dollar bought 7.3101 lira, putting it on track for its lowest-ever closing value.
The Turkish lira hit a record low against the dollar despite efforts by the country's central bank to curtail its fall. It fell 2.5% Thursday, its biggest daily decline since March 2019, erasing 17.7% of its value for this year. At the currency's weakest, one dollar bought 7.3101 lira, putting it on track for its lowest-ever closing value.
The Turkish lira hit a record low against the dollar despite efforts by the country's central bank to curtail its fall. It fell 3% Thursday, its biggest daily decline since March 2019, erasing 18% of its value for this year. At the currency's weakest, one dollar bought 7.3021 lira, putting it on track for its lowest-ever closing value.
The dollar has made a sharp U-turn this summer following a long rally, confounding many traders but potentially adding fuel to this year's surprising stock-market rebound. The ICE Dollar Index, which measures the dollar against a basket of other major currencies, in July notched its worst month in nearly a decade and recently hit a two-year low. The fall extended a reversal that began in late March, spurred lately by ballooning worries that mounting coronavirus cases will stall...
President Nixon in 1971 ended a quasi gold standard involving a fixed gold-dollar conversion price, letting the dollar float freely against other currencies. "Gold Climbs to All-Time High, Topping 2011 Record-- Update" at 2:00 p.m. ET on July 24, incorrectly said Mr. Nixon simply ended the gold standard that year.
The euro traded near a two-year high against the dollar on signs that Europe has largely slowed down coronavirus infections and taken steps toward bolstering its weakest economies. The currency used by the 19 eurozone nations ticked down 0.3% Tuesday to about $1.1722 a euro, remaining near a level last seen in September 2018. That leaves the euro's rally so far in July at 4.3%, on course for its best monthly performance in four years. The euro's advance in part reflects concerns...
The dollar is on track to close out its worst month since April 2011 as a rise in coronavirus infections across the U.S. threatens to damp the economic recovery and keep low interest rates in place for longer. Dollar Index, which measures the greenback against a basket of other currencies, weakened 0.8% Monday to its lowest level since June 2018, according to FactSet. Investors have sold the dollar and bought currencies of countries with lower infection levels in recent weeks.
U.S. stocks rose Monday in a muted start to the week as investors awaited fresh cues on how the global economy and major businesses are faring. Gold rallied to a fresh record, propelled by rising coronavirus infections around the world that added to the uncertainty about the economic outlook. The U.S. dollar dropped to its lowest level in more than a year against a basket of major currencies, with investors betting that the Federal Reserve will continue to keep the spigot turned on...
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