Daryo Central Asia & Afghanistan’s Post

Foreign currency exchange rates against the Uzbek soum on January 7 🇺🇸 $1 = UZS 12,930.11 (-11.90) 🇪🇺 €1 = UZS 13,390.42 (+48.50) 🇷🇺 ₽1 = UZS 120.94 (+3.82)

Foreign currency exchange rates against the Uzbek soum as of February 3 🇺🇸 $1 = UZS 12,975.05 (+18.04) 🇪🇺 €1 = UZS 13,473.29 (-12.37) 🇷🇺 ₽1 = UZS 132.38 (+0.25)

Japan, one of the world’s biggest crude importers, landed 2.11 million barrels per day of crude in May, a sharp decline of 513,000 b/d from April, according to data from the Ministry of Economy, Trade and Industry. Volumes were also down considerably by 337,000 b/d from last May. The plunge comes as the Japanese yen fell last week to its weakest level against the US dollar since 1986, putting traders on alert that Tokyo might again be forced to step in to support the ailing currency. Learn more >> https://bit.ly/3zxNToc #Japan #crude #oil #macroeconomics #oilmarkets

Recent talks of China paying for Saudi oil in #renminbi led to expectations that China’s massive purchases from the kingdom will push more of their #OilTrade to be denominated in the Chinese currency. S&P Global believes yuan-based #oil trade between the two countries face significant challenges and may take decades to grow to a meaningful scale, but deepening bilateral ties and aligning long-term interests may help facilitate this process. Download the full report >> https://okt.to/yXhe7i

For the third day in a row, all Export Sales in Russia are following the exchange currency rate. On Tuesday Chinese Yuan (CNY) felled to the point on 12 rubles (normally 13 rubles), yesterday it felled below 11 rubles. The supply of currency in Russia was artificially increased, and the demand for currency - artificially reduced due to existing problems with payments. In addition, the major exporting companies (gas companies and so on) ought to forcefully sell the foreign currency earnings (the deadline for selling foreign currency earnings for the 1st quarter is June 10). We believe that nothing will change for exporters in future - there are fewer and fewer options for spending foreign currency in the country. However, I am sure that there will be options for utilizing “extra” RMB for import, it is a matter of time and profitability - we just need to wait a little. #Russia #RMB #Russian ruble #Chinese yuan 

The Kingdom of Saudi Arabia's 50-year-old agreement with the U.S. to sell oil in the petrodollar has expired. However, there is no new policy in place and the Biden administration has not renewed the agreement with SaudiArabia. As a policy renewal is not in place, this allows Saudi Arabia to begin selling oil in local currencies. Currencies from #BRICS countries like the Chinese yuan, among others, are the top contenders for oil #sales in #SaudiArabia. The #petrodollar deal was signed between the U.S. and Saudi Arabia on June 8, 1974. This allowed Saudi Arabia to settle oil payments in the U.S. dollar and not local currencies for over five decades. The Kingdom is now free to sell oil in local currencies like the Chinese yuan, Japanese yen, and Indian rupee. The BRICS bloc will be the first to benefit if Saudi Arabia starts accepting local currencies for #oil settlements. https://lnkd.in/eKbDxdac #EnergySecurity #Energy #Markets #GDP #Growth #Economy #Trade #FX #GlobalTrade #WorldEconomy

Bangladesh's foreign exchange reserves have reached over $24 billion, with net reserves surpassing $20 billion, according to the latest report from Bangladesh Bank.

💰 The World’s Strongest Currencies: Where Oman Stands 🌍 What defines a strong currency? It’s all about purchasing power and exchange rate strength compared to others. Among the world’s strongest currencies, the Kuwaiti Dinar (KWD) holds the crown, followed by the Bahraini Dinar (BHD) and the Omani Rial (OMR). These currencies outshine others not because of their widespread use, but due to their backing by oil-rich economies and strict monetary regulations. 🛢️ 💡 Fun Fact: 1 OMR is equivalent to approximately 2.60 USD, highlighting its exceptional value in the global market! 💡 Why Does This Matter? For Oman, a strong currency translates to: ✔️ Increased purchasing power for imports. ✔️ Stable foreign investment opportunities. ✔️ Enhanced economic confidence for global trade. As Oman continues to diversify its economy and invest in non-oil sectors like tourism, renewable energy, and technology, the Rial is not just a symbol of strength but a testament to the nation’s forward-thinking strategies. 🚀 Let’s celebrate Oman’s achievement in being a part of this elite currency club while acknowledging the resilience and vision that drives its economy! #Finance #Economy #Oman #StrongestCurrencies #EconomicResilience

USD to NPR remained stable at Rs. 137.25 for buying and Rs. 137.85 for selling! Check out the detailed analysis of today's foreign exchange rates for USD to NPR, INR to NPR, and other major currencies in Nepal. (Link in comments) #forexrates #forexnepal #nrb #bankingkarobar

Important Development Saudi Arabia and USA had a 50 year deal (of 1974) to sell its oil exclusively in US Dollars to any country in the world in return for US protecting Saudi interests. Saudi Arabia has not renewed that deal (deal expired 9th June 2024). We are likely to see freer trade globally, more volatility in foreign exchange rates of important currencies. BRICS included Saudi Arabia in Bricks last year. That will result in huge trade happening in Bricks currencies as well.