Syria has announced a significant economic reform: the revaluation of its currency by removing two zeros from the Syrian pound, set to take effect with new banknotes issued in December. This move, aimed at restoring public confidence in a currency that has lost over 99% of its value since the onset of the civil war…
China and Brazil have reached a deal to trade in their own currencies, ditching the United States dollar as an intermediary, the Brazilian government said on Wednesday. The deal, Beijing’s latest salvo against the almighty greenback, will enable China, the top rival to US economic hegemony, and Brazil, the biggest economy in Latin America, to…
South Korea’s won reaches lowest level since 2009 as selling in Asian currencies picks up steam The yen fell further against the dollar on Wednesday, leaving it down a fifth this year as Japan’s government stepped up its verbal intervention aimed at stemming an acute sell-off in the currency. Japan’s currency declined to ¥144 against…