Latest news with #foreignreserves
Reuters
20 minutes ago
- Business
- Reuters
Argentina launches $2 billion repurchase agreement to boost reserves
BUENOS AIRES, June 9 (Reuters) - Argentina's central bank will launch a repurchase agreement of up to $2 billion, known as a REPO, to boost its foreign reserves, it said on Monday. The deal - announced alongside other measures to increase the central bank's reserves - comes ahead of an expected review with the International Monetary Fund (IMF) of the country's recently signed $20 billion loan agreement. Argentina needs to boost its reserves ahead of the review, and has said it will not purchase dollars locally to do so. On Monday, the bank reported $38.60 billion in reserves, short of the $40 billion needed. The REPO deal is set for Wednesday, the central bank said in a statement.
Zawya
9 hours ago
- Business
- Zawya
South African rand retreats after strong US jobs data
JOHANNESBURG - The South African rand was flat against a firmer dollar on Friday, after the world's largest economy recorded stronger-than-expected employment data. At 1413 GMT the rand traded at 17.7775 against the dollar , little changed from Thursday's closing level, after gaining in early trade when the South African Reserve Bank reported an increase in foreign reserves last month. South Africa's net foreign reserves rose to $64.804 billion at the end of May from $64.318 billion in April, central data showed on Friday. The greenback last traded about 0.5% stronger against a basket of currencies after a U.S. Labor Department report showed non-farm payrolls increased 139,000 in May, compared with estimates for a rise of 130,000, according to economists polled by Reuters. Like other risk-sensitive currencies, the rand often takes cues from global drivers like U.S. policy and economic data in addition to local factors. Next week, domestic investors will look to manufacturing and mining data to gauge the health of Africa's most industrialised economy. Attention will also be on the country's long-delayed budget. On Wednesday, a key parliamentary committee backed the national budget's fiscal framework and revenue proposals, clearing the path for a vote in the lower house of parliament on June 11. The Johannesburg Stock Exchange's Top-40 index was last down bout 0.2%. South Africa's benchmark 2035 government bond was weaker, as the yield rose 3 basis points to 10.08%.
Zawya
18 hours ago
- Business
- Zawya
Qatar Central Bank's foreign reserves grow 3.60% in May 2025
Doha: Qatar Central Bank (QCB) saw a 3.60 percent increase in its foreign currency reserves and liquidity, reaching QR 258.135 billion in May 2025, up from QR 249.165 billion in May 2024. According to figures released by QCB, its official reserves rose by QR 8.706 billion, or 4.57 percent, year-on-year, reaching QR 198.712 billion by the end of May 2025. This increase occurred despite a decline of about QR 6.044 billion in QCB's foreign bonds and treasury bills, which totaled QR 132.902 billion in May 2025. The official reserves include key categories such as bonds and foreign treasury bills, balances with foreign banks, gold, Special Drawing Rights (SDRs), and the State of Qatar's share in the International Monetary Fund (IMF). In addition to the official reserves, there are other liquid assets, namely foreign currency deposits. Together, these components make up what is referred to as the total foreign reserves. As of the end of May 2025, gold reserves increased by nearly QR 16.012 billion year-on-year, reaching QR 44.339 billion, compared to QR 28.327 billion in May 2024. The balance of Special Drawing Rights (SDRs) deposits from the State of Qatar's share with the IMF increased by QR 67 million year-on-year, totaling QR 5.253 billion by the end of May 2025. Balances with foreign banks decreased by nearly QR 1.328 billion, reaching QR 16.416 billion at the end of May 2025, compared to May 2024. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Reuters
4 days ago
- Business
- Reuters
South African rand gains after foreign reserves data
JOHANNESBURG, June 6 (Reuters) - The South African rand edged up in early trade on Friday, after central bank data showed that foreign reserves increased last month. At 0742 GMT the rand traded at 17.7650 against the dollar , about 0.2% firmer than Thursday's closing level and hovering around its highest level since December 2024. South Africa's net foreign reserves rose to $64.804 billion at the end of May from $64.318 billion in April, the country's central bank reported on Friday. Commerzbank analyst Volkmar Baur said in a research note the local currency has also benefited from renewed U.S. dollar weakness in recent weeks. The dollar was up 0.2% against a basket of currencies but has been under pressure due to signs of fragility in the U.S. economy and as trade negotiations between Washington and its trading partners made little progress despite a looming deadline. The note added that news of an agreement in South Africa's long-delayed budget also provided support for the rand. On Wednesday, a key parliamentary committee backed the national budget's fiscal framework and revenue proposals, clearing the path for a vote in the lower house of parliament on June 11. South Africa's benchmark 2035 government bond was slightly weaker in early deals, as the yield rose 2 basis points to 10.07%.
CTV News
27-05-2025
- Business
- CTV News
Argentina announces first peso-denominated debt sale in nearly a decade
A currency exchange house in Buenos Aires on April 14, after Javier Milei eased currency controls in Argentina. BUENOS AIRES, Argentina — Argentina on Monday unveiled the first sale of peso-denominated debt in nearly a decade in a high-stakes test of international investor confidence under budget-slashing President Javier Milei. The auction Wednesday will be for a maximum US$1 billion, the government said, as the South American country seeks to boost foreign reserves to meet International Monetary Fund loan requirements. The 'BONTE' will be a fixed-rate treasury bond in pesos, but can be purchased in dollars and matures in May 2030. 'Argentina regains access to international markets to refinance capital debt in local currency,' Economy Minister Luis Caputo wrote on X. Last month, Argentina received an initial $12 billion from a new $20 billion loan agreed by the International Monetary Fund (IMF). The injection from the IMF and others is crucial for replenishing Argentina's meager foreign reserves, reviving growth and tackling inflation -- a key focus for self-styled 'anarcho-capitalist' President Milei.
