Currencies

Dubai-Bound Passenger Caught at Mumbai Airport with Diamonds and Currency Worth ₹1.7 Crore | File Photo Mumbai: Mumbai Airport Customs officials intercepted one Indian national at CSMI Airport, who was about to depart for Dubai from Mumbai with foreign currency and diamonds collectively valued at Rs 1.70 crore. According to the Customs sources, on the basis of specific intelligence received, the officers of Mumbai Customs intercepted one Indian national at CSMI Airport, who was about to depart for Dubai from Mumbai on 17.06.2025. File Photo"On examination of baggage and personal...

Oil prices have taken a breather after a sharp 21.74 per cent surge in Brent futures this month (June 2025), driven by geopolitical tensions in the Middle East. While Brent is currently trading at $75.6 per barrel, the possibility of prices testing $120 cannot be ruled out if the Iran-Israel conflict escalates. For India, a net oil importer, rising crude prices pose significant risks to the economy, currency, and markets. Here are three key risks India should watch as tensions simmer in the Middle East, along with insights into whether...

A mismatch between the currencies in which insurers’ assets and liabilities are held can put pressure on their capital and ability to fulfil the liabilities.This is the issue currently confronting insurers in Taiwan, where the majority of assets are invested in US dollar (USD) bonds, but liabilities are in the domestic Taiwan dollar. A weaker USD has meant that the value of assets has fallen, and an insurer may need to put in additional capital or equity. The US Dollar Index has fallen by more than 8 per cent year...

Published Thu, Jun 19, 2025 · 01:38 PM The Vietnamese dong fell, dropping below a record low it touched in April, as Asian currencies declined following a report that the US is preparing for a possible strike on Iran. The dong fell 0.1 per cent to 26,130 per US dollar on Thursday (Jun 19), declining for a fifth time in the past six sessions. Asian currencies and stocks weakened on Thursday as the risk of the US directly joining the conflict between Iran and Israel weighed on sentiment. For export-reliant Vietnam, the...

SINGAPORE, June 19 — The dollar firmed today, buoyed by safe-haven demand due to the looming threat of a broader conflict in the Middle East and possible US involvement, while investors weighed Federal Reserve Chair Jerome Powell’s cautionary tone on inflation.After a muted start in Asia hours, the dollar advanced across the board, weighing heavily on risk sensitive currencies after a report said US officials are preparing for the possibility of a strike on Iran in the coming days.The Australian dollar fell as much as 0.5 per cent but was...

The Lujiazui Forum is an annual financial summit in Shanghai where global leaders discuss financial reform, cooperation, and policy.The governor warned that because there is over-reliance at present on a single currency, the risk of a financial crisis becomes contagious, affecting and spilling over into multiple countries, despite having a local, concentrated origin. Pan’s comments come on the back on ongoing tensions between the Asian giant and the U.S., especially due to President Donald Trump’s insistence to upend the global financial system through his tariff policy. Most importantly, as NYT...

 The U.S. Senate has passed the GENIUS Act. The Senate passed legislation to establish the first regulatory framework for stablecoins, capping prolonged, topsy-turvy bipartisan negotiations. According to media reports, the Senate voted 68-30 to pass the bill Tuesday, with two Republicans voting no. The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act) is a bipartisan legislative effort introduced in 2025 to create a clear regulatory framework for stablecoins—digital assets pegged to the value of traditional currencies like the U.S. dollar. READ: Trump’s stablecoin powers $2 billion crypto...

China’s central bank chief Pan Gongsheng has pledged to expand the footprint of the digital yuan, reaffirming the country’s vision for its central bank digital currency (CBDC).According to a Reuters report, China is creating an international operations center in Shanghai for the digital yuan, also known as e-CNY. Pan made the remarks at the Lujiazui Forum, a professional forum for high-profile local and international finance regulators and executives.China envisions a “multipolar” currency system where multiple currencies support the global economy, Pan said. This vision contrasts with the current system, where...

Circle has followed its IPO by partnering with London financial infrastructure developer OpenPayd and Brazilian fintech Matera to support payments infrastructure for stablecoins and traditional currency.The unified Circle/OpenPayd platform is expected to enable OpenPayd's business clients to execute payments using Circle's USDC stablecoin, with conversions between fiat and stablecoins on both ends of the transaction.That conversion is a key element for stablecoin payments, which can act as a bridge between different currencies on both ends of an international transaction. The London-based OpenPayd  processes about $160 billion in payments annually.By adding...

After a turbulent week of sell-offs, Ripple (XRP) experienced a tremendous daily trading volume explosion to $2.5 billion. This explosive 45% jump in trading activity signals a powerful resurgence of investor interest, which could push XRP price to new highs. It comes at a time when investors are seeking new coins with massive upsides and Remittix (RTX), a cutting-edge payment solution, fits the bill. Crypto experts believe RTX can mirror XRP’s early trajectory or even surpass the crypto bigwig. This article explains why.Remittix: A new crypto payments sensationRemittix solves crypto’s most...