Currencies

In a pre-taped interview with Fox News’ “Sunday Morning Futures”, US President Donald Trump expressed his concerns about his ‘big, beautiful’ spending bill and unfair Japanese auto trade.On passing the bill by his July 4 target date, he said: “I don’t know. I mean, I can’t tell you that.”“I’d like to say, yes. But the problem is if we’re two days late or five days late, everybody says, ‘Oh, you had a tremendous failure,’” he noted further.Speaking on the $9 trillion US debt that is set to mature this year,...

In the tide of cryptocurrency, traditional mining has many pain points such as high equipment cost, high technical threshold, and high electricity consumption. London, UK, June 30, 2025 (GLOBE NEWSWIRE) -- In the tide of cryptocurrency, traditional mining has many pain points such as high equipment cost, high technical threshold, and high electricity consumption. To solve these problems, LET Mining has launched a new intelligent cloud mining service, allowing users to remotely participate in global green mining with just a few clicks, and easily obtain daily passive income. 1. One-click...

The S&P closed at fresh record high on Friday in a whipsaw session. Equities dipped temporarily after news that President Trump had terminated trade discussions with Canada in response to the country’s planned implementation of a digital services tax targeting American companies. A late rebound saw the S&P close 0.5% higher aligning with the solid gains made by European indices. Treasury yields were little changed, and the US dollar was mixed against G10 currencies. China has confirmed details of a trade framework with the US. It has agreed to approve...

Despite stabelcoins’ role here as well as in bridging the gap between traditional financing and crypto trading, RBI remains cautious of stablecoins | Photo Credit: hocus-focus Indian crypto investors are taking a keen interest in stablecoins which accounted for over 25 per cent of spot trading volume on crypto platforms like Coinswitch in the first four months of calendar 2025. Stablecoins offer a relatively stable entry and exit point in crypto markets for users, pegged to real-world assets like the US dollar, euro, or gold and offer price stability that...

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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...