News about Exchange rate
The Egyptian pound has become the world’s best-performing currency following a sharp drop in oil prices resulting from the U.S.-Iran agreement to reopen the Strait of Hormuz — a move that is expected to restore supplies and ease inflation fears, according to Bloomberg.
The dollar edged lower on Wednesday ahead of the first Federal Reserve meeting under Kevin Warsh’s leadership. Optimism over a temporary peace agreement between the U.S. and Iran is supporting risk appetite and reducing demand for the safe-haven currency.
The agreement between the U.S. and Iran extends the fragile ceasefire announced in April by 60 days and reopens the Strait of Hormuz, but investors no longer trust the apparent calm and are focusing on regulatory actions. This week, they are awaiting meetings of central banks, including the Bank of England and the U.S. Federal Reserve, to assess whether the end of the conflict came too late to mitigate short-term inflation risks.
China’s export machine continues to impress with its strength. The country ended last year with the largest merchandise trade surplus in world history ($1.2 trillion), underscoring the continued competitiveness of its manufacturing sector. But the money earned is no longer going to the same places as before.
Gold is losing its luster in the eyes of Wall Street’s biggest banks. For instance, UBS has revised its forecasts for the precious metal, lowering its price targets by $300–$900 per troy ounce. A strong U.S. economy and expectations of tighter monetary policy from the Federal Reserve are shifting market sentiment.
As of June 1, Belarus’s gold and foreign exchange reserves (GFXR) had declined by $228.6 million to $15.038 billion. Experts from the Eurasian Development Bank cited the reasons for this decline.
The dollar hit a near two-month high on Monday amid a strong U.S. jobs report that boosted expectations of an interest rate hike by the Federal Reserve (Fed) this year.
Bitcoin rose slightly on Monday, stabilizing after a sharp drop last week. Sentiment in the crypto market remains fragile amid ongoing institutional selling and rising tensions in the Middle East.
On June 5, bitcoin (BTC) fell below $60 thousand per coin, losing more than 6% per day and almost 20% since the beginning of the month. At the same time, the price of Ethereum (ETH) fell below $1.6 thousand, losing more than 10% per day and more than 20% of its value since June 1.
The top 10 major cryptocurrencies that rose up to 130% amid bitcoin’s collapse.
Currency strategists predict that the US dollar exchange rate will remain in a certain range in the near future and then weaken by the end of the year. Although analysts expected it to weaken, their confidence has waned in recent months and they now forecast a smaller decline or even a rise in the exchange rate. This is due to optimism about the imminent end of the conflict in the Middle East and its temporary impact on inflation.
The sanctions applicable to owners of exchange offices for circumventing currency transaction rules will be moved to the Contravention Code.
The euro’s share of the global market rose slightly to around 20%, lagging far behind the dollar despite inconsistent US policy. Investors are refocusing on gold and smaller currencies, with gold’s share of total reserves exceeding the euro and government bonds. ECB President Lagarde is calling for reforms in the EU to make the euro more attractive and sustainable globally.
Gold prices declined on Monday, June 1, amid the escalation of the conflict between the United States and Iran. Investors preferred to focus not on geopolitical risks, but on the consequences of rising oil prices, which may push the U.S. Federal Reserve to maintain high interest rates.
A Federal Reserve (Fed) spokesman cautions against viewing the oil shock as temporary, believing that policy tightening is possible if inflationary pressures do not abate. This could include not only a change in interest rates, but also a review of the Fed’s use of the balance sheet.
Gold prices fell in Asian trading after a series of U.S. strikes on Iran supported oil prices and the dollar.
A group of the world’s leading central banks and more than 40 major commercial banks are stepping up testing of one of the world’s most closely watched digital payments projects, Agora, as the race to modernize and dominate the international financial architecture heats up.
Resort real estate in Greece continues to rise in price, while the dynamics of prices remain heterogeneous depending on the segment and type of housing.
Shares of major cruise operators are rising noticeably amid a sharp drop in oil prices, which could significantly reduce their fuel costs.
Eurozone sovereign issuers have raised $4.6 billion of non-euro denominated debt since the beginning of 2026. Most of the borrowings are in US dollars and Swiss francs, but there are also subscriptions in Australian dollars and Chinese yuan.
