2016 has been a roller coaster of a year, and currency markets are no exception. A few countries have fared well, but others have seen the value of their currencies fall dramatically. Here’s a list of the currencies that have been rocked hardest in 2016: Egyptian pound: -59% Egypt took the radical decision to let … Read more
A few countries have fared well, but others have seen the value of their currencies fall dramatically. Egypt took the radical decision to let its currency float freely in November. The move was part of an attempt to ease its deep economic crisis and secure an emergency loan from the International Monetary Fund. The Egyptian … Read more
Mexico just showed the first signs of its “contingency plan” to weather a Donald Trump presidency. To save the suffering Mexican peso, the central bank, known as Banxico, raised its key interest rate Thursday, citing the U. S. election as the main reason. “The view for the global economy became more complex, among other factors, … Read more
Mexicans are getting more cash from friends and family in America — in part because of Donald Trump. Cash transfers sent from the U. S. to Mexico — remittances — are up 25% so far this year compared to the same time a year ago. That is, if you count in pesos. That’s because each … Read more