s and easing controls over the foreign-exchange market to deal with a widening gap between the official and unofficial rate, have helped contain surging inflation and initially stabilized the nation’s tumbling currency.
To halt its slide and prevent it seeping into inflation, the central bank will “focus on smoothening exchange-rate shocks through regular foreign currency sales to banks from the surrender portion of foreign-exchange receipts,” the governor said.The monetary authority will allow exporters to retain 75% of their foreign-currency earnings, compared with 60% previously, he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: This Billion-Dollar Startup Wants to Bring Back the DodoA biotechnology startup that promises to resurrect woolly mammoths is now the first “de-extinction unicorn,” with a valuation said to be over a $1 billion before bringing back a single lost species. Colossal Biosciences, the Dallas-based startup, is making public a new round of investment this week that will help fund its effort to bring back perhaps the most famously extinct animal of them all: the dodo. Unicorn bubble goes 'Pop' 🙄
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: GM Beats on Profit and Sales, Shrugs Off EV Price War WorryGeneral Motors Co. expects its earnings momentum to grow this year on higher output, shrugging off concerns that margins will be eroded by a price war for electric vehicles.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Adani pulls off $2.5bn share sale after jump in final bidsBeleaguered Indian tycoon Gautam Adani got a reprieve on Tuesday by pulling off a closely watched $2.5-billion share sale, defying odds after a short seller’s allegations of corporate malfeasance erased more than a quarter of his group’s market value.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Asian stocks rise, US futures waver before Fed: markets wrapStocks in Asia advanced after US shares ended January on a high note as signs of cooling inflation encouraged risk appetite ahead of the Federal Reserve’s meeting on Wednesday.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Oil ticks higher ahead of Fed policy decision, OPEC+ guidanceOil edged higher before a Federal Reserve monetary-policy decision and guidance from producer group OPEC and its allies.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Accidental deaths in SA mines fall to record low of 49 in 2022In 2022, 49 South African mineworkers were killed on the job, a record low and a 34% fall compared to the 74 fatalities recorded the previous year. The goal of 'Zero Harm' remains elusive, but progress is being made. The Department of Mineral Resources and Energy (DMRE), the industry, the workers and unions all deserve credit on this front.
Source: dailymaverick - 🏆 3. / 84 Read more »