Algeria, Trading: Russia opens its currency market to Algerian banks
- 26 September 2023 / News / 163 / Hejer
In a bid to strengthen its economic position and meet the growing demand for foreign currencies, the Russian government recently took a significant step by opening its foreign exchange markets to banks from 31 countries.
Algeria being a country which shares a long-standing friendship with Russia, Algerian banks are therefore granted this privilege as well.
Algerian banks authorized to trade currencies on the Russian foreign exchange market
Previously, Russian laws restricted foreign currency trading exclusively to Russian citizens, which restricted the availability of foreign currency liquidity. However, this new initiative opens the way for foreign investors. This new measure mainly aims to ease restrictions by allowing Russian banks to trade with international partners.
Morocco.. The Executive Board of the International Monetary Fund approves a loan worth $1.3 billion from the Resilience and Sustainability Fund
- 29 September 2023
Yesterday, Thursday, the Executive Board of the International Monetary Fund approved a loan worth $1.3 billion to Morocco from the Resilience and Sustainability Fund.The International Financial Corpor...
Morocco : OCP achieves a net profit of MAD 3.4 billion at the end of June
- 28 September 2023
The OCP group achieved a net profit of 3.4 billion dirhams (billion dirhams) in the first half of 2023 (H1-2023), according to a press release from the group on its financial results at the end of Jun...