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Currency Depreciation

All articles tagged with #currency depreciation

technology1 year ago

Rising Costs and Leaks Spark Concerns for Samsung Galaxy S25 Launch

A brief martial law in South Korea has exacerbated the depreciation of the won, leading to increased costs for Samsung as it imports components for the Galaxy S25 series. The weakened currency, combined with Qualcomm's price hike for the Snapdragon 8 Elite chipset, is likely to result in a price increase of approximately 150,000 won (~$100) for the Galaxy S25 in South Korea and potentially other markets. This situation highlights the economic impact of political instability and currency fluctuations on consumer electronics pricing.

via SamMobile - Samsung news|
#currency-depreciation#galaxy-s25#martial-law
economy1 year ago

South Korea's Central Bank Surprises with Consecutive Rate Cuts Amid Slowing Economy

South Korea's central bank unexpectedly cut its benchmark interest rate by 25 basis points, marking the first consecutive rate cuts since 2009, in response to a weaker-than-expected GDP growth and slowing exports. The Bank of Korea aims to mitigate economic downside risks despite concerns over the depreciating won. The decision reflects the bank's focus on supporting growth amid stabilized inflation and external pressures, including potential U.S. tariffs affecting exports.

via CNBC|
#bank-of-korea#currency-depreciation#economic-growth
cryptocurrency2 years ago

"Bitcoin Faces Pressure from China's Currency Challenges"

China's renewed currency depreciation and measures taken by Beijing to address the issue present a downside risk to bitcoin through the foreign exchange channel, as the tightly controlled Chinese yuan has declined against the U.S. dollar. The latest measures could lead to broad-based USD strength, tighter financial conditions worldwide, and investors scaling back exposure to risky assets like bitcoin. The dollar index has already gained this month, while bitcoin has dropped to $40,500 from highs near $49,000 earlier in the month.

via CoinDesk|
#bitcoin#china#cryptocurrency
economy2 years ago

Turkey's Forex Depositors Return in Droves, Abandoning Lira Scheme

Turkish depositors have largely converted their funds back to dollars after withdrawing from state depreciation-protected accounts, as Ankara begins winding down the scheme. The scheme, known as KKM, was adopted in 2021 to halt the lira crash but has faced challenges as the lira has continued to depreciate. Initial data and senior bankers suggest that around two-thirds of the accounts that were initially converted to lira have been converted back to forex, while the rest moved into regular lira accounts. The central bank aims to reduce the volume of KKM accounts to strengthen its monetary transmission mechanism.

via Reuters|
#currency-depreciation#depositors#economy
economy2 years ago

The Impact of Russia's Weak Ruble on Central Asians and the Economy

The weakening of the Russian ruble is causing significant economic challenges for Central Asian countries, particularly for the millions of migrants from Kyrgyzstan, Tajikistan, and Uzbekistan who work in Russia. The ruble's decline has led to a decrease in remittances sent back to the region, impacting the economies of these landlocked countries. While the ruble has shown some signs of stabilization, its long-term health remains uncertain, posing a dilemma for neighboring countries in terms of managing their own currencies and potential flood of Russian imports. The cheap ruble is already causing havoc in Central Asian economies, and there are concerns about the future impact on the region.

via Radio Free Europe / Radio Liberty|
#central-asia#currency-depreciation#economy
economy2 years ago

Russia's Rouble Plunges to 15-Month Low Amidst Economic Turmoil

The Russian rouble has fallen past 89 against the dollar, reaching its weakest point in over 15 months, due to concerns over domestic political risk following an aborted armed mutiny and a lack of support drivers. The rouble also weakened against the euro and yuan, hitting 15-month lows. The currency's decline is attributed to reduced export revenues and the balance of payments, according to the Bank of Russia. While the rouble's depreciation carries no risks to financial stability, its impact on inflation dynamics will be considered at the next board meeting on the key rate.

via Reuters.com|
#balance-of-payments#currency-depreciation#economy