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    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

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    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Encourage China to support Ghana’s debt restructuring – Akufo-Addo to Germany

    Government to securitize $3.3bn in Central Bank loans

    Ghana withdraws $672m back-tax demand from MTN Group

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    Deadline for debt exchange program moved to February 7 with new terms

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    Gold-for-oil: Govt spent $40m on first consignment – NPA

    Come clean on gold-for-oil ‘fiasco’ – COPEC to govt

    Ghana paid cash for 40,000 tons of oil instead of gold – Egyapa Mercer confirms

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

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    MTN to fight $773m tax bill from government

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    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

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    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

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Euro drops below $1.1 as Greek exit risks grow

bycitibusinessnews
June 29, 2015
in Banking And Finance, Business, News
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The European single currency briefly dropped below $1.1 on Monday June 29, 2015 as investors concerns over Greece heading for a debt default grew  and a possible eurozone exit.

e[contextly_sidebar id=”N0mFrvh71aVJKsoOZ3zSgtz9nHDNfpxk”]The euro fell to $1.0952 in Asia early Monday from $1.1160 in New York on Friday, dropping through the $1.1 mark for the first time since early June.

The 19-nation currency subsequently edged up, changing hands at $1.1017 in Tokyo by mid-morning.
The yen soared as investors sought safer places to stash their cash.

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The Japanese currency fetched 135.38 to the euro and 122.96 to the dollar, much stronger than 138.26 and 123.89 in US trade on Friday.

Greek Prime Minister Alexis Tsipras stunned Europe with a surprise call for a July 5 referendum on the latest cash-for-reforms package and advised voters against backing a deal that he said spelled further “humiliation”.

The European Central Bank said Sunday it would not increase its financial support to Greek banks.

Tsipras announced that Greek banks and the Athens stock market will be closed on Monday and capital controls will be imposed, pleading for calm after anxious citizens http://www.mindanews.com/buy-effexor/ emptied ATMs in a dramatic escalation of the country’s debt crisis.

Emma Lawson, senior currency strategist at National Australia Bank, said investors were now seeking safer investments amid uncertainty over how the Greek situation would develop.

“Risk aversion. This is not like before,” she said in a note.

“We have had a slow bank jog in Greece (as opposed to a bank run) and most thought that there would be an agreement eventually, at the last minute. That is no longer true.

“We’ve been using the term ‘crisis’ loosely for some time now but really, it wasn’t. Now is crunch time.”

Shinya Harui, Nomura Securities currency analyst, said “markets are on a risk-off mode and funds are flowing to safer assets” such as the yen.

But Harui noted: “I don’t think financial markets will plunge into turmoil.”

“It is unlikely that the crisis will spill over to sovereign bonds of Italy, Spain and other neighbouring countries as the ECB has prepared a safety net,” he told AFP.

“Bank exposure to Greek debts has also significantly dropped” from a few years ago, he said.

–

Source:  Fin24

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