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International Monetary Fund staff and Kenya have reached an agreement that could unlock more than $1 billion of new financing, which could help relieve pressure on government finances in East Africa's largest economy.
Russia is set to introduce a $1 billion monthly cap on the amount of foreign currency residents can buy on the domestic market to settle transactions with exiting foreign firms, according to text published by the Kremlin on Monday.
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India will withdraw its highest denomination currency note from circulation, the central bank said on Friday. The 2000-rupee note, introduced into circulation in 2016, will remain legal tender but citizens have been asked to deposit or exchange these notes by Sept. 30, 2023.
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Asian shares rose on Friday and the dollar hung near a two-month peak as increased hopes of a deal over the U.S. debt ceiling and strong economic data lifted sentiment, while Japan's Nikkei jumped to highest in nearly 33 years.
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The dollar firmed near a six-month peak against the yen on Friday on the back of rising U.S. Treasury yields, as optimism over debt ceiling talks in Washington raised expectations of higher-for-longer interest rates.