Currency

Chinaaa RMB project making steady progress

As China steps up efforts to graduate to a leading role in global currency markets, India faces a choice between aligning with the Western-dominated financial system and the Chinese one

Rupee weakens against dollar after OPEC+ supply cut, recovers later

According to a UBS India report, the rupee is likely to strengthen as the current account gap is expected to narrow in FY24

ASEAN to switch to local currency use in the region to avoid crisis

Warjiyo said if ASEAN countries could use their local currencies in the region, transactions and all payments can be conducted faster and able to tackle the global crisis

Rupee weakens 7.8% against US dollar in FY23, most in three years

The rupee closed FY23 at 82.18 to a dollar, against 75.79 a year ago

Demystifying Nithyananda's self-proclaimed country United States of Kailasa

The 'nation' made it to headlines again in February this year when its 'representatives' attended a discussion conducted by the United Nations in Geneva

Panic over bank crisis sparks flight to safe haven currencies including yen

In the latest blow to investors' confidence in the financial sector, Credit Suisse's shares on Wednesday plunged as much as 30%, after its largest shareholder said it could not provide further support

Rupee records best one-day rise against US dollar in nearly 4 months

Adani-related flows, weaker dollar index push Rs up to one-month high

Iran's currency hits new low amid anti-government protests

Iran's currency fell to a record low against the dollar on Sunday, with nationwide anti-government protests now in their fifth month. A breakdown in negotiations to restore Tehran's nuclear deal has also hurt the value of the rial. Traders in Tehran were exchanging the rial at around 600,000 to the dollar on Sunday, after the currency plunged further from 500,000 rials for USD 1 on Wednesday. Iran's currency was trading at 32,000 rials to the dollar at the time of the 2015 nuclear accord that lifted international sanctions on Tehran in exchange for tight controls on Iran's nuclear programme. It was trading at 100 rials to the dollar in 1979 when the Islamic Revolution the West-back monarchy of Shah Mohammad Reza Pahlavi. Iran's statistics centre said last week that the inflation rate reached 53.4 in January. It was 41.4 in January 2021, two years ago. Iran has been gripped by nationwide protests since September. Demonstrations broke out following the death of 22-year-old Mahsa Amin

Top headlines: Mega push for Jal Jeevan mission, India inks pact with UAE

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Rupee poised to weaken after dollar jump on hawkish Federal Reserve

The Indian rupee is expected to open lower against the U.S. currency on Friday, following a surge on the dollar index after two Federal Reserve officials said they preferred bigger rate increases

Dollar climbs on higher rate expectations, Aussie slides on jobs shock

Dollar advanced on Thursday after strong U.S. retail sales data underpinned the resilience of the world's largest economy, cementing that the Federal Reserve has further to go in tightening rates.

Australia to remove British monarch from banknotes, says report

The decision followed a consultation with the Federal government

Currencies take a breather as investors await US Fed interest rate decision

After a series of jumbo rate hikes in 2022 to tame inflation, the market is all but certain of a 25 basis points (bps) increase in interest rates later on Wednesday

Rupee slides 43 paise on risk aversion ahead of Budget, Fed statement

Govt bond yields decline ahead of Budget statement as traders feel the fall in prices over the past week had been overdone

Watch out for mark-up on the exchange rate when remitting money

Go with a player that states both the exchange rate and the transaction fee transparently

Dollar hovers near nine-month low against euro as yen bounces

Elsewhere, the dollar fell 0.4% to 130.18 yen, breaking a two-day rally

Analysts sceptic on the proposed Brazil-Argentina common currency

Brazil's President Luiz Incio Lula da Silva told reporters Monday that a common currency would reduce a harmful dependence on the US dollar

Rupee slides 0.5% as importers continue to lock in dollar purchases

FPI outflows, likely RBI dollar purchases weigh on domestic currency

Dollar steadies after hitting 7-month low against major peers; yen in focus

The Fed's aggressive rate increases were a main driver of the dollar index's 8% surge last year

Rupee ends final week of 2022 higher as market mood improves

The rupee finished the year at 82.72 to the US currency, down from 74.33 at the end of 2021, while the dollar index was headed for its biggest yearly gain since 2015