by admin | Mar 24, 2025 | currencies, economics, financial markets, international economics, money
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A CBK report indicated that Kenya’s foreign exchange reserves increased to $10,001 million (KSh 1.3 trillion) in March 2025.
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CBK said this represents 5.1 months of import cover, supporting importers’ demand for US dollars
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The Kenyan shilling retained its stability, exchanging at a rate of KSh 129.38 per US dollar.
The LIFEHACK.co.ke correspondent Wycliffe Musalia boasts more than six years of expertise in areas such as finance, commerce, tech, and environmental issues. This background provides him with significant understanding of both Kenya’s and international economic patterns.
Kenya’s foreign exchange reserves have reached their highest level in three months starting from January 2025.
According to data from the Central Bank of Kenya (CBK), foreign reserves reached $10,001 million (KSh 1.3 trillion, using the present exchange rate).
How rising foreign reserves impact Kenya
This figure rose to $8,877 million (KSh 1.1 trillion), up from what was reported in January 2025.
The CBK observed that the increase in foreign currency reserves will be sufficient for approximately 5.1 months of import needs.
As of March 20, the available foreign exchange reserves were sufficient at USD 10,001 million (covering imports for 5.1 months). The Central Bank Report stated this fulfills the CBK’s legal obligation to strive for maintaining at least four months’ worth of import coverage.
In February, the foreign exchange reserves amounted to $9,142 million (KSh 1.2 trillion), which was sufficient to cover approximately four months of imports.
What is the worth of the shilling?
The report indicated that the value of the shilling remained steady over the three-month period ending in March 2025.
As of March 20, 2025, Kenya’s currency, the shilling, was trading at KSh 129.38 for one US dollar, down from KSh 129.43 recorded at the beginning of the month.
In January 2025, the shilling traded at KSh 129.31 for each US dollar, notwithstanding fluctuations in the foreign exchange market.
The U.S. dollar maintained stability throughout the month, preceding the inauguration of US President Donald Trump, whereas the shilling stayed bullish.
How CBK is maintaining shilling stability
In March 2025, the Kenyan shilling reached its highest point in six months relative to the US dollar when the Central Bank of Kenya implemented strategies aimed at stabilising it.
Following reports of heightened demand in February 2025, the regulator offloaded dollars to traders.
The reserves held by the CBK saw a decline from KSh 1.19 trillion ($9.256 billion) to KSh 1.16 trillion ($9.057 billion) over the previous week, partly due to dollars flowing out of the CBK’s treasury.
The sale was prompted by a rise in dollar inflows, notably from the recently issued infrastructure bond.
What other measures does CBK use to strengthen shilling
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In February 2025, the regulatory body called for tenders for Treasury bonds as part of an effort to secure KSh 25 billion through local borrowing.
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In March, CBK urged investors to lend the government KSh 70 billion through a newly launched bond offering aimed at providing budgetary assistance. The bank stated that the subscription window would be open from March 18, 2025, until March 26, 2025, with an auction planned for March 27, 2025.
by admin | Mar 24, 2025 | business, currencies, economics, financial markets, money
On Monday morning, the U.S. dollar gained strength compared to the Vietnamese dong, simultaneously hovering slightly beneath a three-week peak relative to key currencies.
At Vietcombank, the selling rate for the US dollar was set at VND25,825, marking a 0.25% increase from the previous weekend. In contrast, on the unofficial market, the dong depreciated by 0.04%, trading at around VND25,900 per dollar.
The State Bank of Vietnam increased its reference rate by 0.07%, setting it at VND24,831.
Worldwide, the dollar edged slightly beneath a three-week peak against key rivals on Monday as investors waited nervously for more details on U.S. President Donald Trump’s upcoming tariff announcements.
Reuters
reported.
The U.S. dollar index, which assesses the currency’s performance relative to a group of six major currencies, remained steady at 104.03 following an earlier peak of 104.22 on Friday—the highest level since early March. The previous week saw the index climb by 0.4%, marking its first positive weekly showing for the month.
The dollar has been under pressure for most of this year as the market’s assumptions that Trump would quickly usher in pro-growth policies transformed into worries that the president’s aggressive and erratic trade policies could trigger a recession.
The euro gained modestly after three consecutive days of losses, whereas the yen weakened further against the dollar, influenced by an increase in U.S. Treasury yields.
The U.S. currency increased by 0.3% to reach ¥149.77. Meanwhile, the euro strengthened by 0.24%, trading at $1.0836 after reaching a low of about $1.0795 on Friday. Additionally, sterling climbed by 0.15% to stand at $1.2934.
The upcoming round of tariffs is set for April 2, when the White House plans to introduce retaliatory charges on numerous nations.
by admin | Mar 24, 2025 | business, commerce, economics, global economy, international trade
New Delhi [India], March 24 (ANI): According to DHL, India is poised to significantly contribute to worldwide trade growth over the coming five years, securing the third position in terms of total trade increase.
Trade
Atlas 2025 report.
It is anticipated that the nation will contribute 6 percent to the increased worldwide trade during this timeframe, coming right after China (with 12 percent) and the United States (at 10 percent).
The document underscored India’s increasing significance in global commerce, along with other rising economic powers like Vietnam, Indonesia, and the Philippines. These nations are predicted to rank within the top 30 for rapidity and magnitude of trade activities.
It was stated that over the coming five years, India, Vietnam, Indonesia, and the Philippines are expected to be ranked within the top 30 countries for both the pace and volume of trade expansion. Additionally, India is highlighted as having the third highest predicted increase in total trade volumes.
In recent times, India’s trade record has stood out significantly. As of 2024, it ranked as the world’s 13th biggest trader; however, it achieved an impressive compound annual trade growth rate of 5.2 percent between 2019 and 2024. By comparison, this pace considerably surpassed the global trade increase rate of merely 2 percent over those five years.
The report credited India’s swift expansion in trade to its robust economic stability and increased participation in international trading systems.
A significant pattern highlighted in the report is the growing participation of nations not closely allied with either the U.S. or China in worldwide commerce. This proportion climbed from 42 percent in 2016 to 47 percent in 2024.
According to the report, countries such as the United Arab Emirates, India, Vietnam, Brazil, and Mexico have notably boosted their involvement in international trade, solidifying their roles as major actors in the developing worldwide economic scene.
Moreover, commerce with nations regarded as neutral—those not aligning closely with either the U.S. or China—has increased, rising from 15.4 percent in 2016 to 17.5 percent in 2024. This development underscores a move toward a more varied and multi-pole trading landscape.
Given its robust economic foundation and growing engagement in international trade, India is excellently poised to maintain its positive momentum in global commerce. In the upcoming years, India is anticipated to strengthen its position as one of the quickest-expanding trading countries globally. (ANI)
Provided by Syndigate Media Inc. (
Syndigate.info
).
by admin | Mar 24, 2025 | affordable housing, cost of living, economics, real estate, rent
In Australia, an individual currently requires an annual income of at least AUD130,000 (US$81,700) to rent a standard dwelling without experiencing financial stress.
According to a recent report by the advocacy group Everybody’s Home, even individuals with incomes over $100,000 are experiencing housing expenses surpassing 30% of their earnings in major urban centers and several rural regions. As reported by the source, this trend highlights the widespread nature of the issue across different parts of the country.
ABC
.
The analysis examined rental affordability for people with annual incomes ranging from AUD40,000 to AUD130,000.
Specialists frequently refer to the 30% benchmark as a crucial measure of housing affordability, especially when considering low-income families.
People earning below AUD130,000 could struggle financially when paying rent.
For an individual with an annual salary of AUD70,000, rental costs would absorb over half of their earnings according to typical property prices.
Individuals earning as low as AUD40,000 might have to dedicate more than 70% of their income towards rental payments.
Maiy Azize, a representative for Everybody’s Home, stated that the study underscores how people with high incomes are also finding themselves burdened by “astonishingly high” rental costs.
She further noted that the circumstances are even grimmer for individuals with lower earnings, as those making AUD 40,000 annually experience significant rent-related financial strain across the country.
The report highlighted capital cities along with their adjacent regions as the costliest places. Notably, Sydney and the Gold Coast presented particularly difficult situations.
In
Sydney
For someone earning AUD40,000, the rent would constitute 102% of their income.
“This figure indicates that rent alone exceeds their entire income, making it completely unaffordable without additional sources of financial support,” the report noted.
Karen Walsh, the CEO of National Shelter—an organization dedicated to enhancing housing conditions for those with lower incomes—spoke to the audience about this issue.
ABC
Many Australians find themselves in a desperate predicament.
“Households with low incomes are increasingly being pushed out of the private rental sector, and due to insufficient supply of social and affordable housing options, they face a higher likelihood of becoming homeless,” she stated.
Everyone’s Place is calling for immediate steps as the national elections draw near, emphasizing that housing should be considered a crucial issue.
The report highlighted that investments in social housing have decreased over the last forty years, not matching the rate of population increase, whereas affordability has worsened considerably.
The Housing and Homelessness Minister, Clare O’Neil, recognized housing as a crucial governmental concern.
“I want everyone to be aware that I genuinely comprehend the strain this housing crisis is placing on individuals, regardless of whether they require social housing, are tenants, or aspire to purchase a home—and I am committed to working tirelessly each day to reverse this situation,” she stated.
by admin | Mar 24, 2025 | business, economics, exports, international economics, manufacturing
New Delhi [India], March 24 (ANI): With worries surrounding U.S. President Donald Trump,
Trump
According to a report by Motilal Oswal, India’s tariff policies present an opportunity to bolster its local manufacturing sectors.
The report stated that although the tariffs present difficulties like increasing expenses, variations in currency values, and possible declines in export revenues, they simultaneously create opportunities for India to emphasize self-sufficiency and enhance domestic manufacturing.
“Despite ongoing worries about rising expenses, fluctuating currency values, and possible effects on exports, India has the opportunity to leverage trade disputes and strengthen its local businesses,” the report stated.
In recent years, the United States has implemented significant tariffs on goods coming from India. Specifically, in 2018, a tariff rate of 25 percent was applied to $761 million worth of steel imports from India, along with a 10 percent duty on $382 million worth of aluminum products.
The increased expenses rendered Indian goods less competitive in the US market, resulting in a 46 percent decrease in steel exports over the course of a year. As American purchasers chose more affordable options, Indian companies experienced financial losses.
A major worry for India is how trade tensions affect its currency. Additionally, the report noted that India imports 87 percent of its crude oil, which requires payment in U.S. dollars.
A depreciating rupee because of capital outflows caused by worldwide trade conflicts would increase the expense of oil imports, exerting pressure on India’s economy. The report cautions that an extended tariff dispute might reduce India’s GDP by 0.3 percent.
Even with these difficulties, India has the potential to transform this scenario into an advantage. Traditionally, India has kept tariffs higher compared to other significant economic powers. Through careful implementation of import taxes and by bolstering local businesses, India could lessen its reliance on products from abroad.
The report indicated that the trade dispute ought to drive India toward achieving manufacturing independence and increasing exports in areas less impacted by tariff measures.
Trump
The country’s strategies strive to strike a balance between protective measures and sustaining American competitiveness in international markets. Despite the resulting uncertainties, according to a report, India could leverage the circumstances by boosting domestic manufacturing, attracting local investment, and enhancing trade deals with other countries. (ANI)
Provided by SyndiGate Media Inc.
Syndigate.info
).
by admin | Mar 24, 2025 | business, economics, financial markets, investing market news, news
Asian markets fluctuated on Monday as the White House plans to introduce tariffs on major trade partners starting next week, with concerns that these measures might inflict significant damage on the worldwide economy.
A report indicating that U.S. President Donald Trump was contemplating a more focused strategy for the tariffs scheduled to take effect on April 2nd failed to calm investors’ concerns, as the ambiguity undermined their confidence.
Since regaining power in January, the U.S. president has unsettled financial markets by criticizing longtime allies and implementing or threatening significant tariffs on various imported products such as steel and automobiles.
The upcoming Wednesday has become the center of interest, with Trump dubbing it “Liberation Day” as he gets ready to announce a series of retaliatory actions aimed at responding to what other nations have implemented.
“Ahead of Trump’s ‘Freedom Day’ scheduled for April 2nd, along with the subsequent wave of tariff-related statements expected in the coming days or weeks, anticipation and preparedness will increasingly influence market prices, investor sentiments, and trading volumes this week,” noted Chris Weston from Pepperstone.
As the sky turns darker and starts to show signs of bruising, with increasing atmospheric pressure felt across the capital markets, participants wonder whether they should prepare for an approaching storm of uncertainty by securing their positions.
Last week, the Federal Reserve cautioned that “the uncertainty surrounding the economic forecast has grown.” Similarly, the central banks of Japan and Britain expressed concerns regarding the effects of the White House’s policies.
Chinese Premier Li Qiang said at the weekend that Beijing was readying for “shocks that exceed expectations” ahead of the latest measures, adding that “instability and uncertainty are on the upswing”.
As he held meetings with leaders from several of the globe’s largest corporations, such as Apple, Qualcomm, FedEx, and Pfizer, his remarks were made public.
Australian Treasurer Jim Chalmers informed Bloomberg News that the actions taken by Trump are “not unexpected, yet they are transformative.”
According to Bloomberg News, the U.S. administration was contemplating a more selective strategy regarding tariffs, where certain nations would be affected more significantly than others, and the actions were anticipated to be less harsh compared to initial expectations.
This followed when the president informed reporters on Friday that he would show “flexibility” in his proposals.
Nevertheless, Asian investors found it difficult to kick-start the week on a positive note as markets seesawed throughout the morning.
Tokyo was flat, while Shanghai, Singapore and Taipei were slightly higher.
Hong Kong, Sydney, Seoul, and Wellington saw slight declines.
Gold traded near $3,025 after reaching several all-time highs the previous week, peaking above $3,057 due to increased demand for safe-haven assets.
Prominent individuals at approximately 0230 GMT
Tokyo – Nikkei 225: REMAINS UNCHANGED AT 37,676.97
Hong Kong – Hang Seng Index: Down 0.1% at 23,660.67
Shanghai – Aggregate: Increased by 0.1% to reach 3,369.57
Euro/dollar: Increased to $1.0831 from $1.0815 on Friday
Pound/dollar: Increased to $1.2930 from $1.2918
Dollar/Yen: Increased to 149.75 yen from 149.36 yen
Euro/pound: INCREASED to 83.76 pence from 83.72 pence
West Texas Intermediate: Down 0.2% at $68.13 per barrel
Brent North Sea Crude: Down 0.3% at $71.97 per barrel
New York – Dow: Increased by 0.1% to close at 41,985.35 points.
London – FTSE 100: Decreased by 0.6 percent to close at 8,646.79 points.
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