Currencies

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A new survey of central banks suggests growing skepticism about the future of the US dollar and its role in the global economy. Analysts from the Official Monetary and Financial Institutions Forum (OMFIF) – an independent think tank organization concerned with central banking, economic policy and public investment – say there is a global shift away from the dollar and into other currencies, primarily the euro and the renminbi. In the 2025 edition of its Global Public Investor report, which surveys 75 central banks around the world, OMFIF says there...

In a first-of-its-kind move, the Reserve Bank of India (RBI) has opened its hidden gold vault to public view, offering a rare glimpse into the heart of the nation's financial strength. This secretive treasure trove has been featured in the new documentary series ‘RBI Unlocked: Beyond the Rupee,’ streaming on Jio Hotstar. This five-part documentary aims to lift the veil on the RBI’s critical functions, giving citizens an unprecedented inside look at India’s central bank on its 90th anniversary.Crores in Every Brick: What’s Inside RBI’s Gold Vault?The documentary shows gold bricks...

The nation’s largest mortgage finance firms will begin accepting crypto as an asset on a mortgage application, another significant step by the Trump administration to bring digital currencies into mainstream finance. This week, President Donald Trump’s housing director, William Pulte, said he would direct Fannie Mae and Freddie Mac – the nation’s big mortgage finance firms – to consider homebuyers’ crypto investments as part of their overall wealth in assessing whether they can afford a mortgage. Traditionally, a homebuyer’s cash savings and stock investments are what mortgage lenders consider. Fannie...

The African Export-Import Bank (Afreximbank), has launched the Pan-African Payment and Settlement System (PAPSS) credit and debit card in Abuja, Nigeria. The partnership with MercuryPaY, a digital payment solutions firm, at the 2025 Afreximbank Annual Meetings in Abuja, Nigeria is a major milestone in Africa’s financial integration journey, bringing the continent closer to seamless cross-border commerce. The PAPPS card allows holders to spend their national currencies across the 16 countries where the system is currently operational, eliminating the costly need for currency conversion through external intermediaries. The first ever Pan-African...

India's foreign exchange reserves (forex) declined by $1.02 billion this week after extending gains in the previous week stabilising at $697.93 billion, official data released by the Reserve Bank of India showed.The Forex extended their gains, jumping $2.294 billion to $698.950 billion in the week ending June 13. As on June 20, the data shows that the foreign currency assets declined $0.36 billion to $589.07 billion.Gold reserves were down by $5.73 million to stand at $85.74 billion during the week, the apex bank's data shows while the special drawing rights...

ROORKEE: Three people were arrested on Saturday for their alleged involvement in printing counterfeit notes, and according to police, the accused were members of an inter-state fake currency racket.Efforts are now on to apprehend five more members of the gang who remain at large. During the raid, police recovered counterfeit currency worth Rs 6 lakh in Rs 500 denomination notes. The accused were reportedly using computer equipment to produce the fake notes. A printer used in the process was also seized from their possession.The three accused were Baleshwar Singh alias...

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.South Korea’s stock market has been supercharged by an investor frenzy over won-based digital money this month, following newly elected President Lee Jae-myung's pledge to allow crypto assets backed by the national currency.Stocks that have been involved in the Bank of Korea’s digital currency project, including Kakao Pay and LG CNS, have been on a wild ride. Kakao Pay shares more than doubled this month and LG CNS rose almost 70 per...

File picture: The German share price index DAX graph pictured at the stock exchange in Frankfurt, Germany. The DAX index has emerged as one of the surprisingly best performers after a long time. This reflects renewed optimism in Germany’s economy, which is undergoing a reset. | Photo Credit: STAFF If you’d gone into hibernation on January 1 and just woken up, you might assume the global markets, especially the US, had had a smooth ride in H1 of 2025. For example, the 2.9 per cent, 4.51 per cent and 4...

File picture: The German share price index DAX graph pictured at the stock exchange in Frankfurt, Germany. The DAX index has emerged as one of the surprisingly best performers after a long time. This reflects renewed optimism in Germany’s economy, which is undergoing a reset. | Photo Credit: STAFF If you’d gone into hibernation on January 1 and just woken up, you might assume the global markets, especially the US, had had a smooth ride in H1 of 2025. For example, the 2.9 per cent, 4.51 per cent and 4...