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April 22, 2025
Euro traded at 1.1466 against USD at 9:00 AM PST.
The euro area budget deficit declined in 2024 but the government debt to gross domestic product rose marginally, according to data from Eurostat. The government deficit as a percentage of GDP fell to 3.1% in 2024 from a revised 3.5% in 2023. In 2024, the government debt-to-GDP ratio slightly increased to 87.4% from 87.3% at the end of 2023. Under the E.U.'s Stability and Growth Pact, member states should keep their deficits and debt below certain limits. A member state's government deficit may not exceed 3% of its GDP, while its debt may not exceed 60%. The government deficit to GDP ratio in the E.U. decreased to 3.2% in 2024 from 3.5% a year ago.
Meanwhile, government debt to GDP in the E.U. increased to 81.0% in 2024 from 80.8% in 2023. All member states except Denmark, Ireland, Cyprus, Greece, Luxembourg, and Portugal reported a deficit. The highest deficits were recorded in Romania, Poland, France, and Slovakia. Twelve member states had deficits equal to or higher than 3% of GDP. At the end of the fourth quarter, the general government debt in the euro area was made up of 84.0% debt securities, 13.5% loans, and 2.5% currency and deposits. 04/22/2025 - 07:56:00 (RTTNews)
Hong Kong Dollar traded at 7.7580 against USD at 9:00 AM PST.
Hong Kong's unemployment rate held steady in the January to March period, according to labor force statistics from the Census and Statistics Department. The seasonally adjusted unemployment rate came in at 3.2% in the January to March period, the same as in the December to February period. The data showed that the underemployment rate also remained stable at 1.1%. On an unadjusted basis, the unemployment rate climbed to 3.2% from 2.9%. The number of unemployed was 122,800, compared to 111,700 in the December to February period. 04/22/2025 - 07:02:00 (RTTNews)
Taiwan Dollar traded at 32.48 against USD at 9:00 AM PST.
Taiwan's export orders increased for the second month in March, according to data by the Ministry of Economic Affairs. Export orders rose 12.5% year-over-year in March, much slower than the 31.1% surge in February. The expected growth was 15.25%. Orders for electronic products grew the most, by 21.8%, and those for transport equipment increased by 15.4%. Meanwhile, orders for chemicals dropped by 8.7%. Monthly, export orders rose at a faster pace of 7.3% in March versus 5.3% in February. In New Taiwan dollar terms, export orders expanded 17.1% annually, and they increased by 7.8% monthly in March. 04/22/2025 - 05:09:00 (RTTNews)
This market update is prepared by Cathay Bank for informational purposes only and does not constitute any form of legal, tax or investment advice, nor should it be considered an assurance or guarantee of future exchange rate movements or trends. This information is provided without regard to the specific objectives, financial situations or needs of any recipient. Cathay Bank does not make any representations or warranties about the accuracy, completeness or adequacy of this market update.
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