EUR/USD
1.17107
0.110%
Gold
3476.52
0.699%
Oil
64.368
1.049%
USD/JPY
147.170
0.146%
GBP/USD
1.35456
0.228%
GBP/JPY
199.312
0.356%
Real-time News
U.S. Treasury Secretary Bessant: There are other regulations that can be used to justify tariffs, but they are not as effective and not as powerful.U.S. Treasury Secretary Benson: The United States is working with Europe to urge India to stop buying Russian oil.On September 2, U.S. Treasury Secretary Jeff Bessant said on Monday that he was not concerned about the dollars exchange rate position against the euro, noting that the euro should remain strong due to the impact of Europes fiscal expansion policies. "Europe is implementing a large fiscal expansion, led by Germany," Bessant said in an interview. "The market... is functioning well."On September 2nd, the Nigerian government announced a reduction in the upper limit on cost recovery for oil companies in an effort to boost revenue, as continued low international crude oil prices threaten to exacerbate the West African nations fiscal deficit. Bashir Ojullari, Group CEO of the state-owned Nigerian National Petroleum Corporation (NNPC), announced on Monday that companies signing production-sharing contracts (PSCs) with the government will now be able to claim a maximum cost recovery percentage of 70%, down from 80%. Ojullari stated that this move will ensure "a continuous flow of production funds into the federal account," and that "this position guarantees a return on investment for contractors while increasing the federal governments share of revenue." He explained that the remaining 30% of non-recoverable costs (i.e., profit oil) will be shared between companies and the government according to the terms of the specific agreement.U.S. Treasury Secretary Benson: The candidates for the two seats on the Federal Reserve Board may be selected from several candidates for chairman.
