Why does the RBI intervene at all? Despite being the world’s fifth-largest reserve holder, its gross foreign liabilities exceed its reserves quite substantially, by over 10% of GDP. And then there is ...

The sterling effective exchange rate index has reached 86.4, marking its highest level against 18 major currencies since the 2016 Brexit referendum. This represents a significant increase, with the pound now worth €1.1981 compared to €1.1334 a year ago, reflecting a rise of over 5.7 per cent. Additionally, the currency is 3.5 per cent stronger against the US dollar than it was a year ago. A stronger pound benefits British holidaymakers, making overseas travel and imports more affordable. The currency strength comes ahead of an anticipated Bank of England decision to raise interest rates, with the BoE set to confirm the index reading on Thursday following the interest rate vote announcement. The current exchange rate dynamics are particularly relevant for consumers and businesses engaged in international trade, as a stronger pound reduces the cost of foreign goods and services. This development aligns with broader economic indicators suggesting a strengthening UK economy, though the Bank of England's upcoming rate decision will be closely watched by markets and consumers alike. The news provides immediate relief for UK residents planning overseas trips, as the improved exchange rate directly impacts travel costs. The pound's performance against major currencies has been a key focus for economists and policymakers since the Brexit referendum, with this latest milestone indicating a potential recovery in the UK's economic position on the global stage. The Bank of England's upcoming actions will likely shape the future trajectory of the currency, with the current strength offering a temporary boost to consumer spending power. This situation highlights the interconnectedness of monetary policy, exchange rates, and consumer economics in the UK's post-Brexit economic landscape.

President Ferdinand Marcos Jr. has urged the public not to panic as the Philippine peso continues to experience a historic decline against the US dollar. The peso has been sliding steadily over the past few weeks, reaching a new low in foreign exchange markets. The President emphasized that the government is closely monitoring the situation and implementing measures to stabilize the currency. He reassured citizens that the economy remains fundamentally strong despite the current fluctuations in the exchange rate. The Department of Finance has confirmed that the peso's decline is primarily due to global market conditions and the strengthening of the US dollar. Economic analysts suggest that the trend may continue in the short term, but they remain optimistic about the long-term stability of the Philippine economy. The Bangko Sentral ng Pilipinas (BSP) has also stated that it is prepared to intervene if necessary to prevent excessive volatility. The President's remarks come amid growing concerns among investors and businesses about the impact of the peso's depreciation on inflation and import costs. However, Marcos stressed that the government's focus remains on maintaining economic growth and job creation. The ABS-CBN News report highlights that the peso's slide is part of a broader trend affecting emerging markets, with many countries experiencing similar challenges in their currency valuations. The President's message aims to prevent panic buying of foreign currency and to maintain confidence in the Philippine financial system. As the situation develops, the government is expected to provide further updates on its economic policies and measures to support the peso.

The Philippine peso has reached a historic low against the US dollar, trading at P64.17 per dollar as of October 27, 2026. This marks a significant decline in the currency's value, continuing a downward trend that has persisted despite the Bangko Sentral ng Pilipinas (BSP) implementing aggressive interest rate hikes to stabilize the currency. The BSP, the country's central bank, has been raising interest rates in an effort to curb inflation and support the peso, but the currency has still weakened substantially. The peso's decline reflects broader economic pressures, including global market volatility, rising inflation, and concerns about the country's fiscal health. The current exchange rate represents a new record low for the Philippine peso, underscoring the challenges faced by the economy in maintaining currency stability. This development is particularly notable as it occurs during a period of heightened economic uncertainty, with the Philippines navigating complex global economic conditions. The BSP's monetary policy measures have not been sufficient to prevent the peso from reaching this unprecedented level, raising questions about the effectiveness of current economic strategies. The situation has implications for import costs, inflation rates, and overall economic stability in the Philippines. The peso's performance against the dollar is a key indicator of the country's economic health, and this record low suggests ongoing vulnerabilities in the financial system. The government and central bank will likely need to reassess their economic policies to address the underlying issues contributing to the currency's decline. This trend is being closely monitored by investors, businesses, and policymakers as it could impact future economic decisions and market confidence.

That airport currency kiosk isn't robbing you with a fee — it's robbing you with the rate itself. Knowing the mid-market rate before you swap, and always paying in local currency at card terminals, can quietly save you hundreds on a single trip.

Bank of Uganda is selling dollars after the shilling hit a record UGX4,208 per dollar, wiping out gains from its emergency rate hike to 12% on October 14.