Currencies

Erode (Tamil Nadu) June 15 (PTI) Fake currency notes equivalent to Rs 3.92 lakh have been seized in this district and a person has been arrested, police said on Sunday. Officials of the Bangalapudur Police station have secured the person with fake currency notes on Saturday night and are searching for another, they said. Police personnel patrolling the Kodiveri Road at Dasa Gounden Pudur (DG Pudur) village came across two motorcycles coming fast. On seeing the police, they left their bikes and ran away, police said. Show Full Article Police...

India on Saturday noted with satisfaction that the USD 400 million currency swap between Male and New Delhi helped boost Maldives' foreign exchange (FX) reserves. The comments by the Indian High Commission in Maldives came after global credit rating agency Fitch on Thursday affirmed the archaepelagic country's sovereign rating at 'CC', among other reasons due to increased Forex reserve. The Indian High Commission in Maldives, in a post on X, said it noted with satisfaction that the FX reserves increase in the island nation was driven by the USD 400...

Male, Jun 14 (PTI) India on Saturday noted with satisfaction that the USD 400 million currency swap between Male and New Delhi helped boost Maldives’ foreign exchange (FX) reserves.     The comments by the Indian High Commission in Maldives came after global credit rating agency Fitch on Thursday affirmed the archaepelagic country's sovereign rating at 'CC', among other reasons due to increased Forex reserve.     The Indian High Commission in Maldives, in a post on X, said it noted with satisfaction that the FX reserves increase in the island nation was driven...

NEW YORK :The U.S. dollar advanced against major currencies, including the euro and yen, on Friday as markets grabbed safe-haven assets as geopolitical tensions in the Middle East following an Israeli attack on Iran.Israel launched a barrage of strikes across Iran on Friday, attacking nuclear facilities and missile factories and killing a swath of military commanders. In retaliation, Iran's state news agency IRNA said hundreds of ballistic missiles had been launched.U.S. President Donald Trump, Israel's main ally, urged Iran to reach a deal on its nuclear program, suggesting that Tehran...

BENGALURU: Asian stock markets and currencies fell on Friday as investors rushed to safe havens after Israel struck Iran’s nuclear and military sites, deepening market jitters already stoked by global trade tensions. Israel said it was declaring a state of emergency in anticipation of a missile and drone strike by Tehran, after what it called a “preemptive strike” over Iran’s nuclear programme. Crude prices surged over 9% on worries about disrupted oil supplies. Rising oil prices typically pressure emerging Asian currencies by widening current account deficits in net oil-importing countries....

In brief Senator Elizabeth Warren and consumer advocacy groups denounced a report detailing plans by major retailers including Amazon and Walmart to potentially issue their own stablecoins. The GENIUS Act, a stablecoin bill in the Senate, would as written allow major corporations to issue their own dollar-pegged cryptocurrencies. Senate Democrats and select Republicans have warned this development could give major tech companies too much power. Sen. Elizabeth Warren (D-MA) and leading consumer advocacy groups denounced a report Friday that Amazon and Walmart are considering issuing their own stablecoins, framing such...

John Maynard Keynes once called it a “barbarous relic”, an ancient metal with little relevance in the modern world. When the gold-backed global monetary architecture came to an end in the early 1970s, central banks started selling their holdings — and they continued doing so for decades.For the guardians of the global economy, gold — which has been used as a store of value since the first gold bars were created in Mesopotamia thousands of years ago — seemed destined for irrelevance. Yet bullion has made a roaring comeback, not just among speculators...

Jigawa State Police Command has arrested 14 suspects for allegedly dealing in fake currencies. The State Police Public Relations Officer, SP Lawan Shiisu, confirmed the development in a statement on Friday in Dutse, the state capital. Shiisu said the suspects were arrested on Thursday in Birnin Kudu Local Government Area of the state. According to him, the suspects were nabbed by joint security operatives in a coordinated intelligence-led operation. The spokesman added that the team carried out a successful raid on a criminal hideout in Digawa village where the suspected...

India's foreign exchange reserves surged by $5.17 billion to $696.66 billion for the week ended June 6, data released by the RBI on Friday showed. The sharp rise during the week has brought the country's forex kitty close to the historic high of $704.885 that was scaled at the end of September 2024.  A strengthening of the country's foreign exchange kitty also helps bolster the rupee vis-a-vis the US dollar. For the week ending on June 6, foreign currency assets, a major component of the reserves, increased by $3.47 billion...

While China and south-east Asian economies are “front and centre” of the impact of tariffs, they should be able to cope with Donald Trump’s latest wave of import taxes, said Andrew Swan, head of Asia Ex Japan equities at Man Group.Swan said: “Manufacturing in China and Asia are impacted, but its worth noting that while the tariff announcements led to a sell-off in those equity markets, they quickly bounced back. The view is tariffs will be manageable. “It’s also the case that it is hard to know where the cost...