Litecoin fell over 4%, or $1.4 on Monday away from November 29 highs for another session, erasing the gains made in the weekend and most of the gains of last week. 

As of 06:27 GMT, Litecoin fell 4.19% to $32.573, with an intraday low at $32.033, and a high at $34.129. 

Litecoin marked the seventh monthly loss in a row in November, the longest such streak of losses since 2015 amid a violent crypto selloff wave. 

Last month, International Monetary Fund head Christine Lagarde suggested on global central banks and their respective governments the possibility of issuing their own digital currencies to make them more stable and controlled and accessible for all sectors instead of the current mayhem in that market. 

Lagarde believes that payments through digital currencies would be instant, safe, and cheap, and while they would be anonymous, central banks will keep a database of all payments, cutting out fraud and money laundering operations. 

The Path of Litecoin

Litecoin was first publicly offered in the first half of 2013 at only $3, marking record lows at below $1 in early 2015 before taking off on its long and spotted journey higher. 

The cryptocurrency pierced $100 for the first time on November 29, 2017, before scaling a record high at $370.78 on December 19, and plummeting back below $100 on June 12, before marking 17-month lows on November 25 at $27.726.  

Chubb Arabia Cooperative Insurance Company announced it received the approval of the Saudi Arabian Monetary Authority (SAMA), on the appointment of the company’s chairman and deputy chairman and managing director, in addition to formation of committees for the term starting from July 25, 2018 till July 24, 2020.

The company earlier posted SAR 5.2 million net profit for the third quarter of 2018, compared with SAR 7.8 million net profit in the year-ago period.

Net profit for the first nine months of 2018 declined to SAR 26.1 million, from SAR 26.7 million net profit in the corresponding period of 2017.

The number of subscriptions to the mobile voice services in Saudi Arabia amounted to nearly 42.5 million, with a penetration rate of 130.5% till the close of the third quarter of 2018, showed a report issued by the Communications and Information Technology Commission (CITC).

The report also showed that the number of subscriptions to the broadband ADSL services via mobile telecom operators increased to around 29.9 million, with a penetration rate of 91.8% nation-wide.

The financing provided by brokerage firms on the Saudi Stock Exchange (Tadawul) rose by 32.5%, or SAR 2.36 billion till the end of the third quarter of 2018, compared with the same period of the last year.

At the end of the third quarter of this year, this financing amounted to SAR 9.61 billion, compared with SAR 7.25 billion by the end of the third quarter of 2017, according to Al-Ektisadiah newspaper.

Meanwhile, the number of customers receiving financing through authorized persons in the market increased by 23.3% at the end of the third quarter, compared with the same period last year, reaching 2024 customers, from 1642 customers at the end of the third quarter of 2017.

Financing increased for the second consecutive quarter, while it declined during 2016 and 2017, following the decision of the Saudi Capital Market at the end of 2015, which banned authorized companies from providing financial facilities for stock traders by more than 100% of the value of their portfolios.

CMA has earlier revealed a decline in the traded values of authorized brokerage firms by 8%, or SAR 9 billion during September, 2018 compared to August.