As of 10:37 am AST 11 December 2020, Foreign exchange rates between U.S., select countries in Africa, Asia, and Europe

How to read the chart:

EUR/USD: You want to buy euros (EUR) with US dollars (USD). Where the market determined exchange rate is one EUR for 1.21088 USD, you divide your dollars in hand by the exchange rate to determine the number of euros you will receive.

USD/CAD=1.27702

USD/GBP=0.75077

GBP/USD=1.33175

USD/CNH=6.53412

USD/EUR=0.82575

EUR/USD= 1.21088 

USD/DKK=6.14584

USD/NGN= 379.869  

USD/JPY=104.36

USD/INR=73.6224

USD/GHS=5.84964   

Source: OANDA

Major political/legal event impacting foreign exchange

Treasury Secretary Mnuchin addresses congressional oversight commission on CARES Act

Yesterday, U.S. Treasury Department Secretary Steven Mnuchin made the following address:

“Senator Toomey, Representative Hill, Representative Shalala, and Commissioner Ramamurti, I am pleased to join you today to discuss the Department of the Treasury’s work to execute the National Security Loan Program established in the CARES Act. Treasury has worked diligently to implement every piece of the CARES Act, including the National Security Loan Program, efficiently and transparently. 

NATIONAL SECURITY LOAN PROGRAM

The CARES Act provides funding for up to $17 billion in loans to businesses critical to maintaining national security related to losses incurred as a result of coronavirus. The CARES Act authorized Treasury to make loans and loan guarantees for “businesses critical to maintaining national security.” The statute, however, does not define that term. Therefore, after consulting with the Department of Defense and the Office of Director of National Intelligence, Treasury issued guidance on April 10, 2020, providing that a company can fall within this definition if it meets at least one of three criteria: 


If a company met at least one of the three necessary criteria, Treasury conducted detailed financial and legal reviews of each application pursuant to consistent credit standards that were applied to all applicants. 
To date, Treasury has approved 11 loans totaling nearly $736 million. Information on the companies and dollar amounts are publicly available on our website, Treasury.gov.
Many of the companies we initially expected to take part in the program were able to raise funds in the capital markets, leaving most of the available loan funds unused. Going forward, I urge Congress to re-allocate these funds to provide relief for aviation industry workers, who continue to struggle through no fault of their own. 

CONCLUSION

I would like to thank the members of the Commission for working with us to provide vital economic relief to American workers, families, and businesses. I hope that the extensive amount of information Treasury has provided to the Commission has been helpful to you, and I am pleased to answer any questions you may have.”

Foreign exchange rates in light of Mnuchin, Powell testimony before the US Senate …

As of  11:23 am AST, 1 December 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .77051 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.29766 CAD

CAD/USD=0.77051   USD/CAD=1.29766

CNH/USD= 0.15204   USD/CNH=6.57584

EUR/USD= 1.19642   USD/EUR=0.83573

DKK/USD =0.16075   USD/DKK=6.21944

NGN/USD= 0.00261    USD/NGN=378.336

JPY/USD=0.00960    USD/JPY=104.12

INR/USD=0.01351       USD/INR=73.8918

JMD/USD=0.00675     USD/JMD=145.028

GYD/USD=0.00469       USD/GYD= 205.043

GHS/USD=0.17028    USD/GHS= 5.82869

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00900       USD/KES= 109.047

BTC/USD= 16,987.20    USD/BTC= 0.00006

Source: OANDA

Major political/legal events impacting currencies

Today, Steven Mnuchin, Secretary of the U.S. Department of the Treasury, and Jerome Powell, Chairman of the Board of Governors of the Federal Reserve System, are testifying before the U.S. Senate Committee on Banking, Housing and Urban Affairs.  Questions are expected to seek clarification as to Secretary Mnuchin’s request that remaining funds from the CARES Act be sent back to the Congress’ general fund.  Chairman Powell will reiterate the need for fiscal policy in the face of increasing COVID-19 infections and an economy that is still on the rebound.  

Source: U.S. Senate Committee on Banking, Housing and Urban Affairs

As of 9:51 am AST 30 November 2020, Foreign exchange rates between U.S., select countries in East Africa, West Africa, the Caribbean, and Asia, and BitCoin

As of 9:51 am AST, 30 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76954 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.29852 CAD

CAD/USD=0.76954   USD/CAD=1.29852

CNH/USD= 0.15205   USD/CNH=6.57348

EUR/USD= 1.19622   USD/EUR=0.83576

DKK/USD =0.16071   USD/DKK=6.21851

NGN/USD= 0.00260    USD/NGN=377.445

JPY/USD=0.00960    USD/JPY=104.06

INR/USD=0.01351       USD/INR=73.7640

JMD/USD=0.00675    USD/JMD=145.165

GYD/USD=0.00468       USD/GYD= 205.117

GHS/USD=0.17037     USD/GHS= 5.82050

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00898       USD/KES= 108.719

BBD/USD = 0.50000     USD/BBD = 2.0000

TTD/USD = .14475         USD/TTD= 6.65695

BTC/USD= 16987.20     USD/BTC= 0.00006

Source: OANDA

Major political/legal event impacting foreign exchange

On 27 November 2020, President Donald J. Trump nominated Brian P. Brooks as Comptroller of the Currency for a term of five years.  As Comptroller, Mr Brooks would be responsible for administering the United States’ national banking system as well as the branches of foreign banks doing business in the United States.  Mr Brooks is currently serving as acting Comptroller.  His nomination must be confirmed by the U.S. Senate.

Source: Executive Office of the President

As of 9:50 am AST 23 November 2020, Foreign exchange rates between U.S., select countries in East Africa, West Africa, the Caribbean, and Asia, and BitCoin

As of 9:50 am AST, 23 November 2020:

How to read the chart:

CAD/USD: If you come to the United States with one Canadian dollar (CAD)and wish to sell it for a US dollar (USD), the market price is .76362 USD.

USD/CAD: If you take a US dollar (USD) to Canada and wish to sell it for a Canadian dollar (CAD), the market price is 1.30914 CAD

CAD/USD=0.76362   USD/CAD=1.30914

CNH/USD= 0.15258   USD/CNH=6.55057

EUR/USD= 1.18551   USD/EUR=0.84331

DKK/USD =0.15913   USD/DKK=6.27877

NGN/USD= 0.00260    USD/NGN=378.095

JPY/USD=0.00962     USD/JPY=103.81

INR/USD=0.01348       USD/INR=73.9600

JMD/USD=0.00673     USD/JMD=145.650

GYD/USD=0.00469       USD/GYD= 204.889

GHS/USD=0.17074     USD/GHS= 5.80300

XCD/USD=0.37037        USD/XCD= 2.70

KES/USD = 0.00905       USD/KES= 108.539

BTC/USD= 18,581.00     USD/BTC= 0.00005

Source: OANDA

Major political/legal event in the United States

On 22 November, the press secretary for the President of the United States issued the following statement at the G20 Leaders Summit:

“President Donald J. Trump participated in the second day of the virtual G20 Leaders Summit on November 22, 2020.  President Trump discussed the economic model he has enacted through cutting taxes and regulations, promoting abundant and affordable energy, and negotiating trade agreements grounded in the principles of fairness and reciprocity.  President Trump expressed the importance of policies that promote workers and families.  He also discussed the historic achievements made in the United States and around the world in empowering and investing in women, and called on all countries to do more.  President Trump thanked Saudi Arabia for its leadership during its G20 presidency and looked forward to working with Italy as incoming G20 president.  He also encouraged the G20 to continue to work together to achieve security, prosperity, and peace for all nations.”

Source: Executive Office of the President of the United States

The Narrative: From Red to Blue to Purple to Beige …

The United States, in order to compete with #China, will have to assume leadership of a new Eurocentric economic block. It cannot afford to have China producing and selling cheap technology to Europe while the Asian Tiger increases its debt leverage over Africa.

To counter China, the United States, over the next two decades, will have to present itself as a one-party, “culturally and physically beige” customs union that emphasizes European values. Diversity will have to take a back seat to Eurocentrism; an action that will make aligning with Europe a lot easier.

Central banks in Europe and the United States will eventually have to start raising interest rates as pressure increases from aging Boomers seeking higher yield and social programs in need of more financing.

With an increasing number of the black and Latino elite more than willing to dilute themselves to a “people of color”, Eurocentrism should take hold pretty easily among ethnic minority communities.