Bloomberg A UK lender is offering to pay bondholders higher interest to swap debt rather than risk tapping sterling’s chaotic market for fresh cash. With no sign of volatility easing yet, Shawbrook Group wants to keep investors happy by moving them to new notes that offer an 8.099 percentage-point premium over UK gilts, an extra 100 basis points versus …

  Bloomberg Pakistan’s foreign exchange reserves dropped to the lowest level in three years as assistance from multilateral lenders and friendly countries is yet to flow. The stockpile fell by $303 million to $7.59 billion, according to central bank data. The reading is the lowest since July 2019 and covers less than six weeks of imports. “This decrease was entirely …

Bloomberg China’s yuan fixings have steadied over the past week, spurring speculation that the central bank wants to cap currency losses using a method last seen in the US-China trade war in 2019. The People’s Bank of China (PBOC) set the yuan reference rate near 7.1 per dollar for a seventh session, a move that would support the currency around …