Currencies

The further escalation in the Middle East conflict over the weekend, after the US attacked Iranian nuclear sites, increases the likelihood of a further spike in oil prices and will weigh on investor risk appetite. Brent crude futures had dipped towards US$74 on Friday, amid increased hopes for a diplomatic solution for the Iran-Irael conflict but subsequently rebounded towards US$76. The S&P closed modestly lower while the Euro Stoxx advanced 0.7%. The US dollar was firmer against a basket of developed market currencies. Treasury yields declined following dovish comments from...

Some of emerging Asia’s biggest central banks look to be dialling back their interventions in the currency market.The central banks of India and Malaysia have reduced the size of some derivatives positions they use to weaken their currencies. Taiwan has allowed its currency to surge against the US dollar in recent weeks and dropped hints that it would be comfortable with more if the moves were “orderly”. South Korea’s giant national pension fund has ended its five-month support of the won.A major reason for these moves is a simple change...

Economist and best-selling author Nassim Taleb says a single asset has overtaken the US dollar’s position as the world’s de facto reserve currency. In a new interview with Bloomberg, the Black Swan author says that the US dollar has lost its status as a reliable safe-haven asset, noting that people prefer to invest in the stock market rather than hold a currency that declines in value over time. He also says that America’s sweeping sanctions against Russia for its invasion of Ukraine marked the beginning of the end of the...

The foreign exchange market, commonly known as forex, represents the world's largest and most liquid financial market, with daily trading volumes exceeding $7 trillion. At the heart of this massive marketplace lie the forex major pairs, which form the backbone of international currency trading and serve as the primary vehicles for both institutional and retail traders worldwide.What Are Forex Major Pairs?Forex major pairs consist of the most heavily traded currency combinations in the global market, all of which include the US Dollar (USD) as either the base or quote currency....

Home NewsWhy is so much money suddenly coming to India from THESE countries, and who is sending it? There has been an increase in AED-INR transactions since June 19. Officials at currency exchange houses say NRIs are no longer waiting for further depreciation. Image for representational purposes New Delhi: Due to the depreciation of the Indian rupee, the Indians living in the Gulf countries like the United Arab Emirates (UAE) and Saudi Arabia have increased remittances back to India. It is important to note that the rupee has weakened against...

Weeks before top BRICS leaders converge in Rio de Janeiro for summit talks, envoys of leading member nations of the grouping hinted that it could focus on greater use of national currencies for trade in the face of uncertainties over Trump administration’s aggressive policy on tariff. Russian Ambassador Denis Alipov reaffirmed Moscow’s strong support for trade in local currency among BRICS member nations and described the grouping as ‘a serious platform for discussing joint soluti’ons to big challenges’. The summit is unlikely to make any significant progress on the proposed...

Weeks before top BRICS leaders converge in Rio de Janeiro for summit talks, envoys of leading member nations of the grouping hinted that it could focus on greater use of national currencies for trade in the face of uncertainties over Trump administration's aggressive policy on tariff.Russian Ambassador Denis Alipov reaffirmed Moscow's strong support for trade in local currency among BRICS member nations and described the grouping as "a serious platform for discussing joint solutions to big challenges".The summit is unlikely to make any significant progress on the proposed BRICS currency...

Weeks before top BRICS leaders converge in Rio de Janeiro for summit talks, envoys of leading member nations of the grouping hinted that it could focus on greater use of national currencies for trade in the face of uncertainties over Trump administration's aggressive policy on tariff.Russian Ambassador Denis Alipov reaffirmed Moscow's strong support for trade in local currency among BRICS member nations and described the grouping as "a serious platform for discussing joint solutions to big challenges".The summit is unlikely to make any significant progress on the proposed BRICS currency...

BRICS nations to discuss greater use of national currencies for trade at the upcoming Rio summit, amid US dollar uncertainty. A BRICS common currency is deemed impractical.New Delhi, Jun 21 (PTI) Weeks before top BRICS leaders converge in Rio de Janeiro for summit talks, envoys of leading member nations of the grouping hinted that it could focus on greater use of national currencies for trade in the face of uncertainties over Trump administration's aggressive policy on tariff.Russian Ambassador Denis Alipov reaffirmed Moscow's strong support for trade in local currency among...

As the BRICS summit approaches in Rio de Janeiro, the focus is squarely on strengthening collaboration among member nations against terrorism and in support of the Global South's aspirations. Envoys are advocating for the broader use of national currencies in trade and championing sustainable governance reforms.India is emphasizing BRICS' crucial role in driving scalable solutions for developing nations and is pushing for financial inclusion and the expanded use of national currency in international trade. Prime Minister Narendra Modi is expected to attend, underscoring India's commitment to shaping BRICS as...