Currency – I Have 50 Dollars http://ihave50dollars.com/ Mon, 03 Jan 2022 08:06:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://ihave50dollars.com/wp-content/uploads/2021/10/cropped-icon-32x32.png Currency – I Have 50 Dollars http://ihave50dollars.com/ 32 32 Cryptocurrency ATM software market to witness massive growth by 2030 – Industrial IT http://ihave50dollars.com/cryptocurrency-atm-software-market-to-witness-massive-growth-by-2030-industrial-it/ Sun, 02 Jan 2022 17:03:17 +0000 http://ihave50dollars.com/cryptocurrency-atm-software-market-to-witness-massive-growth-by-2030-industrial-it/

Global research study titled Cryptocurrency ATM software Market was recently published by JC Market Research. The report offers an analysis of existing statistics on the global market Cryptocurrency ATM Software Industry and forecast possible. The report highlights a comprehensive assessment of the market that reveals patterns of market size by revenue and volume (if applicable), existing growth drivers, analysts’ opinions, information and evidence of progression. market verified by industry.

Cryptocurrency ATM software The market should reach XX billion dollars by 2027, while recording this growth at a rate of XX% for the forecast period of 2020 to 2029.

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In order to determine the growth of the segments, the Global Cryptocurrency ATM software The market analysis study gathers data obtained from various regulatory bodies. In addition, based on the topography, the report also analyzes the Cryptocurrency ATM software industry. It reviews the geo- and micro-economic characteristics affecting the development of the territories of each region. Cryptocurrency ATM software industry. Evaluate the development of the Global Cryptocurrency ATM software industry, different analytical methods are used.

Key Players – Covered in ATM Cryptocurrency Software Report: Hyosung America, Blockchain App Factory, Soft-logic Company, ChainBytes, BitExchange, Blockchain Developments, Codezeros Technology Company, Zrix, JP TECHNOLOGY GROUP, ByteFederal, Nadcab Technology, App India, KIOSK

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How Does Cryptocurrency ATM Software Market Research Report Help?

1. To receive in-depth industry research and to provide a clear understanding of “Cryptocurrency ATM software market “and the business environment.

2. What are the issues facing cryptocurrency ATM software producers and the emerging prospects and threats they face?

3. Think about the cryptocurrency ATM software trading tactics that peers and large companies are pursuing.

4. Cryptocurrency ATM software Market share both in volume and revenue (regional, product, application, end user) as well as CAGR.

5. Main parameters of the cryptocurrency ATM software that drive this market and hold back its growth.

Reasons to Buy Cryptocurrency ATM Software Report

Current and future of the world Cryptocurrency ATM software market outlook in developed and emerging markets

The segment of cryptocurrency ATM software that is expected to dominate the market as well as the segment that holds the highest CAGR during the forecast period

Regions / Countries of the Cryptocurrency ATM Software Industry Expected to Experience the Fastest Growth Rates During the Forecast Period

The latest developments, market shares, and strategies related to Cryptocurrency ATM Software that are employed by the prominent market players

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Major Regions for Cryptocurrency ATM Software report are:

ATM software industry in North America with their countries (United States, Canada and Mexico)

Europe Cryptocurrency ATM software industry with their countries (Germany, France, UK, Netherlands, Russia, Italy and rest of Europe)

Asia-Pacific cryptocurrency ATM software industry with their countries (China, Japan, Australia, New Zealand, South Korea, India and Southeast Asia)

South America Cryptocurrency ATM software industry with their countries (Brazil, Argentina, Colombia, rest of the countries etc.)

Middle East and Africa Cryptocurrency ATM software industry with their countries (Saudi Arabia, United Arab Emirates, Israel, Egypt, Nigeria and South Africa)

Key Pointers Covered in Cryptocurrency ATM Software Market Industry Trends and Forecasts to 2029

1. Cryptocurrency ATM software procedural volumes

2. Recent Developments for Cryptocurrency ATM Software Market Competitors

3. Cryptocurrency ATM Software Upcoming Applications

4. Study on Cryptocurrency ATM Software Innovators

5. Price Analysis of Cryptocurrency ATM Software Products

6. Cryptocurrency ATM Software Healthcare Results

7. Regulatory Framework and Changes to Cryptocurrency ATM Software

8. Analysis of cryptocurrency ATM software prices and refunds

9. Cryptocurrency ATM Software Market Shares Across Different Regions

10. Cryptocurrency ATM Software Market Size

11. Cryptocurrency ATM software New sales volumes

12. Cryptocurrency ATM Software Replacement Sales Volumes

13. Installed base of cryptocurrency ATM software

14. Cryptocurrency ATM software by brands

TABLE OF CONTENTS of Cryptocurrency ATM Software Report

Part 01: Analytical Summary of Cryptocurrency ATM Software

Part 02: Cryptocurrency ATM Software Scope of Report

Part 03: Cryptocurrency ATM Software Research Methodology

Part 04: Cryptocurrency ATM Software Market Landscape

Part 05: Analysis of Cryptocurrency ATM Software Pipeline

Pipeline cryptocurrency ATM software analysis

Part 06: Sizing the Cryptocurrency ATM Software Market

Cryptocurrency ATM Software Market Definition

Sizing the Cryptocurrency ATM Software Market

Cryptocurrency ATM Software Market Size and Forecast

Part 07: Five Strengths Analysis of Cryptocurrency ATM Software

Bargaining Power of Cryptocurrency ATM Software Buyers

Bargaining Power of Cryptocurrency ATM Software Providers

Threat of cryptocurrency ATM software New entrants

Threat of ATM software substitutes for cryptocurrency

Threat of rivalry with cryptocurrency ATM software

State of the Cryptocurrency ATM Software Market

Part 08: Cryptocurrency ATM Software Market Segmentation

Segment by Type – Secure Wallet – Hardware Wallet Based Exchange – Cryptocurrency Backed Lending Segment by Application – Retail ATM Products – Financial ATM Products

Cryptocurrency ATM Software Comparison

Cryptocurrency ATM Software Market Opportunity

Part 09: Customer Landscape of Cryptocurrency ATM Software

Part 10: Regional Landscape of Cryptocurrency ATM Software

Part 11: Cryptocurrency ATM Software Decision Framework

Part 12: Cryptocurrency ATM Software Drivers and Challenges

Cryptocurrency ATM Software Market Drivers

Cryptocurrency ATM Software Market Challenges

Part 13: Cryptocurrency ATM Software Market Trends

Part 14: Landscape of Cryptocurrency ATM Software Providers

Part 15: Analysis of Cryptocurrency ATM Software Vendors

Cryptocurrency ATM Software Providers Covered

Classification of cryptocurrency ATM software providers

Positioning of vendors in the cryptocurrency ATM software market

Part 16: Cryptocurrency ATM Software Appendix

To conclude, the Cryptocurrency ATM software Industry Study is a credible source of access to analytics data that is expected to accelerate business exponentially. Information such as economic scenarios, advantages, limitations, models, market growth rates, and numbers are provided in the study. The SWOT review, along with the Speculation Feasibility Survey and Business Return Survey, are also implemented in the study.

Find more research reports on Cryptocurrency ATM software industry. By JC Market Research.

About the Author:

JCMR The global market intelligence and research consultancy organization is uniquely positioned not only to identify growth opportunities, but also to empower and inspire you to create visionary growth strategies for the future, through our extraordinary depth and breadth of thought leadership, research, tools, events and experience that help you make your goals a reality. Our understanding of the interplay between industry convergence, megatrends, technologies and market trends provides our clients with new business models and opportunities for expansion. We are focused on identifying ‘accurate forecasts’ in each industry we cover so that our clients can take advantage of early market entrants and meet their ‘goals and objectives’.

Contact us: https://jcmarketresearch.com/Contact-Details

JC market research

Mark Baxter (Business Development Manager)

Call: +1 (925) 478-7203

E-mail: [email protected]

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Central Bank revises maximum interest rates on foreign currency deposits – Lanka Business Online http://ihave50dollars.com/central-bank-revises-maximum-interest-rates-on-foreign-currency-deposits-lanka-business-online/ Fri, 31 Dec 2021 09:57:55 +0000 http://ihave50dollars.com/central-bank-revises-maximum-interest-rates-on-foreign-currency-deposits-lanka-business-online/

The Monetary Council issued an ordinance on the maximum interest rates payable for the currency deposit products of licensed commercial banks and the National Savings Bank.

Maximum interest rate on FCY deposits

The maximum interest rates that will be offered or paid by an approved commercial bank and the National Savings Bank on Foreign Currency Deposits (FCY) are as follows;

(i) whose maturity is less than or equal to one year is based on the simple average of the primary market yields of 364-day Treasury bills determined at auctions held during the last calendar month of the previous quarter minus 150 points basic, or 5%, whichever is greater;
(ii) with a maturity of more than one year will be determined on the basis of market behavior.

In the case of special FCY deposit accounts, the additional interest rate that may be offered or paid will be higher than the applicable interest rate above.

Authorized banks are also responsible for executing USD / LKR swap transactions, subject to a maximum USD interest rate of 10% per annum.

These Orders will come into effect from today and will be applicable to new FCY deposits, existing FCY savings deposits and renewal of FCY term deposits.

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Is Dogecoin a Better Currency Than Bitcoin? The Future of Payments is Digital – Jason Butcher http://ihave50dollars.com/is-dogecoin-a-better-currency-than-bitcoin-the-future-of-payments-is-digital-jason-butcher/ Wed, 29 Dec 2021 21:21:00 +0000 http://ihave50dollars.com/is-dogecoin-a-better-currency-than-bitcoin-the-future-of-payments-is-digital-jason-butcher/

The future of payments will be virtual, with transactions taking place almost exclusively with digital fiat currencies or with cryptocurrencies, said Jason Butcher, CEO of Payments in coins .

“I think 100% [of our daily transactions] will be dealt with crypto or with digital currency. One form of digital transaction will represent 100% of [the future adult’s] life, ”Butcher told Kitco News anchor David Lin.

In this case, cryptocurrencies simply record a transaction between two peers and act as a form of barter, Butcher said.

“For example, you and I decide to trade value, and you hold Bitcoin, and I’m going to provide you with a service, I’m going to sell you a product, I’m trading that value with you, and we’re basically using a dollar of barter, which in this case is Bitcoin. So it’s a digital form of transaction recorded on a blockchain that says you and I decide to transfer value between us. I’m just using Bitcoin as a transfer record rather than a Canadian dollar, or a euro, or let’s say, gold and silver, ”he said.

CoinPayments is a platform that facilitates business transactions using cryptocurrencies.

“CoinPayments is similar to a payment gateway platform that you might traditionally think of from a Visa or MasterCard. The difference is that our gateway technology solution helps traders accept crypto as a form of payment, ”said Butcher.

The coin with the highest volume of transactions on CoinPayments continues to be Bitcoin.

There is a transition, we are seeing more stable coins like the USDT. Last January, we saw around 5-10% of transactions in USDT, and now we’re seeing 25% or more. Bitcoin was around 90% and today we see around 50% to 52% of it, ”he said.

Influencers like Tesla CEO Elon Musk have said Dogecoin may be a superior form of payment than Bitcoin.

“Even though it was created as a silly joke, Dogecoin is better suited for transactions. The total flow of transactions you make with Dogecoin is… transactions per day have a much higher potential than Bitcoin,” Musk said in an interview with Time Magazine.

Butcher responded to Musk’s comments by saying that Dogecoin is not unique in its properties as a potential form of payment.

“Dogecoin represents an opportunity that I would say, hundreds of other currencies or cryptos like these actually represent. The other existing platforms, Solana, USDT or even USDC, or many other coins available, are actually much stronger and much better for currencies to be used as a transaction, ”he said. “The difficulty is what is the community? If you have five million people who have Bitcoin in the world, you have a community of five million people who have Bitcoin to spend, and if you only have 10,000 people who have Dogecoin, who is the community?

At the end of the day, parts that are stable or have properties like a stable part are the best, Butcher added. ”

For more information on how cryptocurrencies will play a role in the development of the metaverse, watch the video above.

Follow David Lin on Twitter: @davidlin_TV (https://twitter.com/davidlin_TV)

Follow Kitco News on Twitter: @KitcoNewsNOW (https://twitter.com/KitcoNewsNOW)

Warning: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is for informational purposes only. It is not a solicitation to effect an exchange of commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for any loss and / or damage resulting from the use of this publication.


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Qatar – Banks remind customers to exchange old currency http://ihave50dollars.com/qatar-banks-remind-customers-to-exchange-old-currency/ Tue, 28 Dec 2021 11:55:29 +0000 http://ihave50dollars.com/qatar-banks-remind-customers-to-exchange-old-currency/

(MENAFN- The peninsula) Sachin Kumar | By Sachin Kumar | The peninsula

Doha: If you still have the old edition banknotes in your wallet or purse, you only have a few days left to redeem them. Banks in Qatar have reminded citizens and expatriates to exchange old banknotes as the deadline approaches to replace the old Qatari currency. According to banks, December 31st is the last day to exchange the old currency note.

“Please note that the last day to deposit your Qatari Riyal Fourth Edition (old version) banknotes at our ATMs and branches is December 31, 2021,” Commercial Bank said on its official Twitter account yesterday.

It is very convenient for customers to exchange the old banknotes because the ATMs of banks accept both old and new currencies. Customers can also go to bank branches to exchange old currency.

“December 31 is the last day to accept old banknotes. If you still have any, we encourage you to deposit them through the QIB deposit machines as soon as possible, ”QIB said on its official Twitter account.

All the banks posted similar messages on their social networks and sent phone messages to customers.

“We would like to remind you that the deadline for exchanging and accepting the old edition tickets at all our branches and ATMs is December 31, 2021,” Ahli Bank said yesterday on his Twitter account.

In February of this year, the QCB announced the extension of the circulation of old banknotes until July 1 of this year. Later, this deadline for extending the circulation of old banknotes was extended until December 31, 2021.

“Please note that old Qatari banknotes will be accepted until December 31, 2021 at any branch of Bank in Doha or any cash deposit machine,” Bank of Doha said on his official Twitter account.

On December 13 of last year, QCB announced the launch of the “5th series of Qatar riyal banknotes” from December 18, 2020. The design of the new banknotes reflects Qatari tradition, Islamic history, culture , flora and fauna and development in the field of education, sport and economy.

“Please note that the deadline for redeeming Qatari 4th Edition tickets has been extended until December 31, 2021. You can also drop them off at QNB branches, ATMs, ATMs and ATMs. bulk ticket machines during this period, ”QNB said on its official Twitter account.

“In accordance with the decision issued by the Central Bank of Qatar, QIIB would like to remind you that the deadline for accepting and replacing banknotes with the fourth issue is until December 31, 2021. All old Qatari banknotes will not be not accepted after December 31, 2021. QIIB said on its official Twitter account.

MENAFN281220210000063011010ID1103453516

Legal warning: MENAFN provides the information “as is” without warranty of any kind. We accept no responsibility for the accuracy, content, images, videos, licenses, completeness, legality or reliability of the information contained in this article. If you have any complaints or copyright issues related to this item, please contact the supplier above.

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The current state of development of central bank digital currency (CBDC) around the world http://ihave50dollars.com/the-current-state-of-development-of-central-bank-digital-currency-cbdc-around-the-world/ Mon, 27 Dec 2021 08:47:04 +0000 http://ihave50dollars.com/the-current-state-of-development-of-central-bank-digital-currency-cbdc-around-the-world/

In the first week of November 2021, the Bank of England and the UK Department of Finance announced their intention to conduct a “formal consultation” on the creation of a central bank digital currency or CBDC. If the consultation is successful, Britons can look forward to the creation of a blockchain-based digital currency that will serve as legal tender by the end of the decade.

The UK’s CBDC promises to facilitate financial transactions and bring people without access to banking services into the wider economy. Despite this, the UK is relatively late in the CBDC ecosystem. Indeed, many comparable projects are already underway, mainly in emerging economies. Then there are the more notable (and controversial) CBDCs like the Chinese digital yuan, which is intended for incredibly ambitious purposes.

Make no mistake about it: digital currencies from central banks will arrive in most countries of the world before the end of the decade, as their unique advantages, speed of use, profitability and compatibility with an increasingly global economy. more digital technology leaves nations no real choice in the matter.

This article will provide an introduction to CBDCs, in particular:

  • An overview of CBDCs – including their uses and technology

  • An analysis of their potential impact

  • Finally, a survey of the most important and notable CBDC projects

The CBDC announcement in the UK was one of several reports on the CBDC to appear in the news cycle in November. A competition organized by the Monetary Authority of Singapore (MAS) awarded German company Giesecke + Devrient and CBDCgo $ 50,000 each for the development of technologies that support CBDCs in the nation-state. Likewise, these government-backed assets are experiencing an influx of institutional involvement in an attempt to improve the ecosystem as a whole. Indeed, institutions including the World Bank and the International Monetary Fund (IMF) are pursuing the case.

What are central bank digital currencies (CBDCs)?

Simply put, a CBDC is a virtual form of a country’s paper money (coin). While most of the proposed CBDC projects exploit blockchain technology in the implementation, CBDCs are different from cryptocurrencies like Bitcoin and Ethereum. Unlike cryptocurrencies – which are typically created and regulated by individuals or organizations – CBDCs are created by the monetary authority of a particular country, for example. the US Federal Reserve.

This is because CBDCs are created alongside a country’s printed / stamped fiat currency and therefore have a value equal to 100% of the currency to which they are linked – be it dollars, crowns, rupees or pesos – and therefore are legal tender.

Currently, no CBDCs are formally used, but their proposed adoption could bring several advantages and disadvantages.

Proposed benefits of CBDCs

  • Can simplify business-to-consumer transactions much like online banking.

  • Can facilitate the implementation of monetary policy (e.g. tax collection)

  • Can democratize banking services in emerging countries. For example, in rural cash-based economies, some citizens do not have access to banking services. Using CBDC can remedy this problem (when paired with smartphones)

  • Can eliminate the risks and costs associated with the use of intermediaries. As the CBDC allows the bank without the banks, it can avoid problems like the 2008 financial crisis or the bank runs.

Possible disadvantages:

  • The use of CBDC could reduce individual freedoms. It will be much more difficult to make discrete individual transactions or to maintain confidentiality.

  • Some analysts argue that using CBDC does not solve financial centralization problems

  • CBDCs can be used for nefarious purposes such as punishing citizens for unwanted behavior by freezing their funds or blocking access to online retail services.

Why do CBDC projects use blockchain technology?

While not a necessary prerequisite, the majority of CBDC projects take advantage of blockchain technology (88%) due to the following benefits:

  • Blockchain provides bespoke design and integrated platforms that share / hold value securely

  • They allow smart contract programmability allowing the triggering of financial functions including automatic payments based on predefined conditions (for example, automatically paying your bills on the 5th and 15th)

  • Blockchain also increases transparency of audit trails to reduce taxes and provides privacy features not available in online banking.

  • The use of blockchain also improves interoperability with other digital assets (NFT, DeFi protocols, stablecoins, etc.)

  • Blockchain technology is immutable and trustless, and authorized blockchain networks offer flexible scaling and speed while giving the operator full control over privacy and nodes.

What are the biggest CBDC projects in 2021?

Since 2014, more than 60 central banks have started pursuing CBDC projects. These projects can be divided into two categories: retail projects and interbank / wholesale projects.

Retail projects

Retail projects allow individuals to hold a CBDC as they would any other currency. These projects are generally more advanced in emerging economies. Here are 5 new interesting projects.

  • Bahamian Dollar – Released in 2019, this digital version of the Bahamian Dollar is issued by authorized financial institutions. It is accessible via a mobile phone / digital wallet, and supports the issuance of micro-loans. It is the most advanced and widely adopted project on this list.

  • Cambodia Bakong Project – Launched in 2018 and officially launched in 2020, this quasi-CBDC project links 11 commercial banks, creating an interbank payment system. The Cambodian CBDC is also experimenting with transactions with Maybank (a Malaysian-based bank), making it easy for Cambodians abroad to transfer money home. As with most retail projects, CBDC Bakong seeks to provide banking services to rural Cambodians. It will also increase the dependence on the Cambodian riel and reduce the dependence on the US dollar.

  • Digital Yuan (DCEP) – China’s first foray into CBDCs began in 2014 and was piloted in 4 major cities. The Digital Currency Electronic Payment (DCEP) system, also known as digital yuan or e-yuan, is designed to replace physical currency while providing more control to central Chinese authorities. 300 million US dollars are currently in circulation. Experts believe it will be strongly encouraged during the 2022 Beijing Winter Olympics.

  • E-hryvnia – This Ukraine-based CBDC completed its pilot project in December 2018. The E-hryvnia project focused on analyzing the effects of the CBDC on macroeconomic stability. This piece is remarkable because it was the first CBDC project in Europe.

  • e-peso – USD 20 million Uruguayan e-peso was issued to 10,000 Uruguayan citizens between 2017 and 2018, where it was used on an experimental basis in registered businesses. After the completion of the pilot study, it was cashed in and destroyed.

Wholesale / interbank projects

Interbank / wholesale applications restrict their use to financial institutions. Here are 3 main current implementations.

  • Inthanon-LionRock – Launched in 2017, this Hong Kong-based CBDC has demonstrated great potential in wholesale / cross-border transactions. This CBDC will strengthen the economic relationship between Thailand and Hong Kong and is designed to position the city as a hub for offshore RMB payments.

  • Ubin – Ubin is Singapore’s blockchain-based CBDC. It is designed to facilitate transactions between different central banks in different countries.

  • Jasper-Ubin – These are actually two projects. These Canada-based CBDCs – Project Jasper and Project Jasper-Ubin – were launched in 2017 and 2019 respectively. The two CBDCs focus on interbank payments, settlements and cross-border / inter-currency payments.

Conclusion

The UK, and indeed much of the west, is still late in adopting the CBDC. Likewise, although promising, the effectiveness of this technology remains to be proven. One thing is certain however, CBDC has shown great promise in multiple applications.

If new developments are to take place, future iterations will, in all likelihood, result in a government-backed digital currency in every country, from the European Union (with its future digital finance strategy legislation) to emerging economies like the ‘South Africa.

It remains to be seen whether they can live side by side with public blockchain-based stablecoins and cryptocurrencies whose value is tied to national currencies. There are currently concerns that stablecoins may not be fully 1: 1 guaranteed in fiat like the USD, which could lead to a damaging liquidation in the future.

However, what should be of more concern to every citizen and investor in the world at this time is how the CBDCs will be implemented. Will it be a machinery of government that will have a greater influence on our finances, our behavior and our freedoms, or will their cost-benefits be passed on to the citizens? Only time will tell. Given the history of money printing by most central banks over the past 100 years, caution is indeed required.

Source: Meet-global.bnext.com

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Pakistan’s foreign exchange reserves run out in IMF deadlock http://ihave50dollars.com/pakistans-foreign-exchange-reserves-run-out-in-imf-deadlock/ Fri, 24 Dec 2021 08:28:00 +0000 http://ihave50dollars.com/pakistans-foreign-exchange-reserves-run-out-in-imf-deadlock/

Pakistan’s foreign exchange reserves exhaust IMF deadlock | Photo credit: iStock Images

Pakistan’s foreign exchange reserves are running out after the persistent deadlock on the renewal of the IMF package.

Pakistan’s total foreign exchange reserves amounted to USD 25.027 billion; foreign reserves held by the SBP stood at over $ 18 billion and commercial banks at $ 6.45 billion, Geo News reported.

Meanwhile, in the week ending December 10, foreign exchange reserves declined by $ 90 million to $ 18.56 billion.

Of the $ 802.3 million in foreign loans raised in November 2021, Islamabad received $ 663.2 million from international commercial banks, Geo News reported.

Sources indicate that Islamabad’s inability to complete the 6th review under the IMF’s $ 6 billion package is the reason for the reliance on easy dollar inflows.

The publication, citing leading official sources said: “It was Islamabad’s inability to complete the 6th review under the IMF’s $ 6 billion Extended Finance Facility (EEF), which maintained the country’s heavy dependence on inflows of cheap dollars through commercial banks “.

Although it planned to raise $ 1 billion through the launch of the Sukuk Bond, the government was unable to move forward due to weak appetite in the international market, the publication reported.

It was then decided that the bond would be launched in the second half of the year (January-June) of the current fiscal year, Geo News reported.

Analysis of the data shows that the government is forced to opt for short-term commercial loans to meet its annual budget targets on external inflows.

Pakistan continues to depend significantly on international commercial banks to generate inflows of dollars, The News reported on Friday.

Out of the total budget estimate of USD 14,008 billion for the entire 2021-22 fiscal year, Islamabad has so far generated USD 4.699 billion in the first five months of the current fiscal year.

Analysis of official data showed the government was forced to resort to short-term commercial borrowing to close the gap and meet its budget targets on external inflows on an annual basis, Geo News reported.

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Pakistan’s foreign exchange reserves run out after IMF deadlock http://ihave50dollars.com/pakistans-foreign-exchange-reserves-run-out-after-imf-deadlock/ Fri, 24 Dec 2021 08:22:41 +0000 http://ihave50dollars.com/pakistans-foreign-exchange-reserves-run-out-after-imf-deadlock/

Pakistan’s foreign exchange reserves are running out after the persistent deadlock on the renewal of the IMF package. Pakistan’s total foreign exchange reserves amounted to USD 25.027 billion; foreign reserves held by the SBP stood at over $ 18 billion and commercial banks at $ 6.45 billion, Geo News reported.

Meanwhile, in the week ending December 10, foreign exchange reserves declined by $ 90 million to $ 18.56 billion. Of the $ 802.3 million in foreign loans raised in November 2021, Islamabad received $ 663.2 million from international commercial banks, Geo News reported.

Sources indicate that Islamabad’s inability to complete the 6th review under the IMF’s $ 6 billion package is the reason for the reliance on easy dollar inflows. The publication citing prominent official sources said: “It was Islamabad’s inability to complete the 6th review under the IMF’s $ 6 billion Extended Finance Facility (EEF), which maintained the country’s heavy dependence on inflows of cheap dollars through commercial banks.

Although it planned to raise $ 1 billion through the launch of the Sukuk Bond, the government was unable to move forward due to weak appetite in the international market, the publication reported. It was then decided that the bond would be launched in the second half (January-June) of the current fiscal year, Geo News reported.

Analysis of the data shows that the government is forced to opt for short-term commercial loans to meet its annual budget targets on external inflows. Pakistan continues to depend significantly on international commercial banks to generate inflows of dollars, The News reported on Friday.

Out of the total budget estimate of USD 14,008 billion for the entire 2021-22 fiscal year, Islamabad has so far generated USD 4.699 billion in the first five months of the current fiscal year. Analysis of official data showed that the government was forced to resort to short-term commercial borrowing to close the gap and meet its budget targets on external inflows on an annual basis, Geo News reported. (ANI)

(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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The new vegan crypto currency is listed on the cash http://ihave50dollars.com/the-new-vegan-crypto-currency-is-listed-on-the-cash/ Tue, 21 Dec 2021 17:27:00 +0000 http://ihave50dollars.com/the-new-vegan-crypto-currency-is-listed-on-the-cash/

TEL AVIV, Israel – (COMMERCIAL THREAD) – SIPUP (OTCPINK: SPUP) today announced that its UK-based subsidiary, VeganNation Finance Services Ltd. (https://vegannation.io/), lists his digital coin on the Liquid exchange. Following the listing earlier this month on Bittrex, GRNC, one of the world’s premier vegan cryptocurrencies, is expected to launch on the Liquid Exchange starting on December 15, 2021.

The GRNC was designed by VeganNation to serve as a global green loyalty program, inspiring users to behave sustainably to have a positive impact on our society and the planet. By integrating GRNC into the recently launched VeganNation app in the US and soon to be launched in other global markets, VeganNation seeks to provide a tangible form of digital bidding for the global vegan community (merchants and customers, likewise), through which trade can be processed. GRNC will initially only be usable for transactions made in the application.

As part of the GRNC initiative, the VeganNation loyalty program aims to give app users a shared sense of community and a positive impact knowing that GRNC will be used in the context of businesses and business-centric enterprises. on vegans. The actual issuance of GRNC to app users will be calculated based on a proprietary algorithm that assigns values ​​to various activities that occur within the app, such as making purchases, becoming an influencer, using GRNC for B2B transactions, etc.

Additionally, application users will have the ability to establish integrated wallets designed to contain GRNC. These portfolios will ensure transparency and traceability of all GRNCs issued, stored and used through the use of a blockchain system.

Isaac Thomas, Co-Founder of VeganNation and CEO of Sipup, said: “With a focus on promoting global sustainability and reliability in the vegan world, our new ‘GreenCoin’ (GRNC) is taking VeganNation to take its place in the ESG arena.”

About VeganNation:

The VeganNation ecosystem aims to unite individuals, businesses and organizations to discover, share and exchange goods and services, based on plant values ​​and lifestyles. VeganNation seeks to lead the plant community with a sophisticated technology platform that enables a strong green economy to thrive.

The company supports sustainable commerce and promotes conscious and sustainable consumption and lifestyle. Visit the website at www.vegannation.io, download the VeganNation app on a smartphone and follow the company on Twitter (https://twitter.com/VeganNation_), Facebook

(www.facebook.com/vegannationofficial/), Instagram

(www.instagram.com/vegannationofficial/), LinkedIn

(www.linkedin.com/company/vegannation/) and Youtube

(www.youtube.com/channel/UCNFqR2HjfdyUkkK5YsDXwfg).

Live as if there was tomorrow.


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]]> Pound rallies late after Erdogan increases currency http://ihave50dollars.com/pound-rallies-late-after-erdogan-increases-currency/ Tue, 21 Dec 2021 07:05:37 +0000 http://ihave50dollars.com/pound-rallies-late-after-erdogan-increases-currency/

LONDON: Goldman Sachs lowered its quarterly US growth forecast for 2022 to 2%, from 3% previously, after Sen. Joe Manchin withdrew his support for the $ 1.75 trillion domestic investment bill dollars from President Joe Biden.

Also known as Biden’s Build Back Better political bill, it aims to expand childcare and home care benefits, as well as investments in clean energy and climate change issues, between other sectors.

Manchin raised concerns about inflation and rising debt that would reduce the country’s ability to respond to the pandemic and geopolitical threats.

Reuters quoted Goldmans Sachs analyst Jan Hatzius as saying in a note released Dec. 19: “We were already expecting a negative fiscal boost for 2022 due to waning support for COVID relief legislation enacted in 2020 and 2021. Without the enactment of the BBB, this fiscal impulse will become more negative than we expected. ”

The company had cut its US GDP forecast for the first quarter of 2022 to 2% from 3% previously, assuming BBB would not become law.

Goldman also cut its forecast for the second quarter to 3 percent from 3.5 percent. The estimate for the third quarter has been revised down to 2.75% from 3% previously.

In a similar response, Moody’s Analytics said the company expects real GDP growth to be half a percentage point lower in 2022 if the proposed legislation does not become law.

According to a Reuters poll of economists released on Dec. 8, U.S. growth for 2022 has slowed to 3.9 percent from 5.6 percent this year.

Economists predicted that growth would slow next year, as the effect of past spending programs gradually wore off.

They expect the Federal Reserve to pursue tighter monetary policy to bring high inflation under control, according to a Reuters statement on December 20.

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Fitch Downgrades Sri Lanka’s Long-Term Foreign Currency IDR to CC http://ihave50dollars.com/fitch-downgrades-sri-lankas-long-term-foreign-currency-idr-to-cc/ Sat, 18 Dec 2021 05:04:14 +0000 http://ihave50dollars.com/fitch-downgrades-sri-lankas-long-term-foreign-currency-idr-to-cc/

International rating agency Fitch demoted cash-strapped Sri Lanka a notch to “CC” on Saturday because of growing fears of a sovereign default on its $ 26 billion foreign debt.

The downgrade came a day after Sri Lanka reported a 1.5% contraction in the third quarter of this year, as a currency crisis ruined its recovery from the coronavirus pandemic.

Fitch said the downgrade reflected his vision of “an increased likelihood of a default event in the coming months” as Sri Lanka’s foreign exchange reserves collapsed to $ 1.58 billion in late November.

“We believe that it will be difficult for the government to meet its external debt obligations in 2022 and 2023 in the absence of new sources of external financing,” the agency said in a statement.

He noted that Sri Lanka had to repay two international sovereign bonds of $ 500 million in January 2022 and $ 1.0 billion in July 2022 with little improvement in capital inflows to the 21 million country. inhabitants.

Foreign currency debt service payments, including principal and interest, for next year total $ 6.9 billion, equivalent to nearly 430% of the island’s official gross international reserves as of November 2021 .

“The cumulative service of foreign currency debt, including interest and principal, is approximately $ 26 billion from 2022 to 2026,” Fitch said.

The island’s economy, dependent on tourism, has been hit hard by the pandemic and the authorities reacted to the decline in foreign exchange reserves with a broad import ban, triggering shortages, especially of food and fuel. and drugs.

The crisis has spread to industry and services, and agriculture has also suffered greatly from the ban on imports of agrochemicals.

Sri Lanka’s economy grew 12.3% in the second quarter, but a third wave of infections that forced a 41-day curfew severely hit services and industries, the statistics office said on Friday. .

Its foreign exchange reserves of 1.58 billion dollars at the end of November against 7.5 billion dollars when the government of Gotabaya Rajapaksa took power two years ago.

Supermarkets rationed staples such as powdered milk, sugar, lentils, canned fish and rice, with commercial banks running out of dollars to finance imports.

The central bank has appealed for foreign currencies, even loose change that people may have after returning from trips abroad, as the government desperately searches for dollars.

The banking regulator has also warned that it will freeze the accounts of informal money changers who offer higher prices for hard currencies than official exchange rates.

Source: AFP
-Agencies

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