Thursday 24 April 2014
 
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Currency

Germany, Chinese banks in key agreement

The central banks of Germany and China have signed an agreement to facilitate transactions in the Chinese currency in Frankfurt, the Bundesbank said, making Germany's financial capital the first hub for such payments in Europe.

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Suez Canal revenues to hit record $5.5bn

Revenues from Egypt's Suez Canal, one of the country's main sources of foreign currency, are expected to reach $5.5 billion in the current fiscal year, the head of the authority that manages the waterway said. Suez Canal A

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Why the underworld loves bitcoin

Criminals may already have made off with up to $500 million worth of bitcoins since the virtual currency launched in 2009 - and you can double that if it turns out they emptied Mt. Gox. Internet criminals, security experts say, ar

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Bitcoin ATMs to open soon in US

Robocoin said on Tuesday that later this month it will install the first automated teller machines (ATM) in the US that let users buy and sell bitcoin, the latest step into the mainstream for the digital currency. The kiosks, to b

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Bitcoin hit by denial of service attacks

Bitcoin is being hit by attacks from unknown computer hackers who are sending "mutated" lines of code into the program that runs the virtual currency, a spokeswoman from its main trade organization said in a statement. T

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Emerging currencies resume rout; banks step in

The Russian rouble hit record lows against the euro on Thursday and currencies in South Africa and Hungary hit multi-year troughs in the latest wave of an emerging market asset sell-off threatening global economic stability. India

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Sudan devalues currency by 22.6pc

Sudan's central bank has devalued the Sudanese pound by 22.6 percent against the dollar, the second such move in little over a year as the African country struggles with hard currency shortages. Sudan's economy has been in

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Egypt's pound strengthens at cbank currency sale

Egypt's pound edged stronger at a central bank foreign currency sale on Monday. The central bank sold $38.8 million with a cut-off price of 6.8800 Egyptian pounds per dollar versus 6.8802 pounds at its last sale on October 10,

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Tunisia's foreign currency reserves rise

Tunisia's foreign currency reserves rose to 11.389 billion dinars ($6.88 billion) in August, with a Japanese loan helping extend the previous month's recovery after a sharp decline, the central bank said on Wednesday. But

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Egypt pound strengthens on $1.3bn currency sale

The Egyptian pound jumped 1.2 percent on Wednesday at a $1.3-billion foreign currency sale - its biggest ever - as the central bank gambled a large chunk of its reserves to show that Egypt's economic turbulence was coming to an end.

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