Currencies

Stay informed with free updatesSimply sign up to the Chinese economy myFT Digest -- delivered directly to your inbox.China’s central bank governor has said he expects a new global currency order to emerge after decades of dominance by the US dollar, with the renminbi competing in a “multi-polar international monetary system”.Speaking at China’s flagship financial forum in Shanghai, Pan Gongsheng said the US dollar had “established its dominance” after the second world war and “retained its status up till now”. He warned of “excessive reliance” on a single currency. “In...

As of end-November 2024, the 40-currency trade-weighted Real Effective Exchange Rate (REER) stood at 108.13—the highest on record—indicating that the Rupee was significantly overvalued.By end-April, the REER had corrected to 100.80, suggesting the overvaluation had already been addressed. That’s the latest available data, as per the RBI bulletin. However, since then, the Rupee has underperformed its Asian peers.It has been the worst performer—weakening 1.3% against the Dollar—while the offshore Yuan has appreciated 1.1% during the same period.Other Asian currencies have gained between 0.4% and 7%. Based on this trend, the...

Crypto Reporter Shalini Nagarajan Crypto Reporter Shalini Nagarajan About Author Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector. Share Last updated:  June 18, 2025 Why Trust Cryptonews Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain...

Economists warn that the finance ministry’s projected gross domestic product (GDP) growth of 6.3% to 6.8% for FY26 could come under pressure as global headwinds, rising geopolitical tensions, volatile capital flows, trade disruptions and weak private investment intensify. On the domestic front, India must address challenges in private sector investment and weak urban demand. Trump’s tariffs hit export-heavy Asian economies like China and Vietnam harder than India, which leans more on domestic consumption. Also read: CBDT probes crypto-related tax evasion Still, headwinds at home led chief economic advisor V. Anantha...

* Philippine peso falls 1% to 2-month low * Indonesian rupiah down 0.3% ahead of rate decision * Federal Reserve decision due later in the day By Himanshi Akhand June 18 (Reuters) - Emerging Asian currencies lost ground on Wednesday as the dollar held firm on safe-haven demand as the conflict between Israel and Iran entered a sixth day, while investors awaited rate decisions by the Bank Indonesia and the Federal Reserve. Iran and Israel launched new missile strikes at each other, with U.S. President Donald Trump calling for Iran's...

Hyperliquid (HYPE) sustained a 6% decline on Tuesday despite Nasdaq-listed Eyenovia's (EYEN) announcement that it entered a securities purchase agreement to offer up to $50 million of its shares to establish a HYPE treasury. The company announced that it has entered into a securities purchase agreement for a $50 million private placement in public equity offering (PIPE) with accredited investors. The company plans to use the funds to establish its Hyperliquid treasury. Bitcoin price declined sharply, falling from the June 10 open of $110,274 to the June 11 close of $105,671,...

Pan Gongsheng expects several key global currencies to coexist in mutual competition and checks and balancesPublished Wed, Jun 18, 2025 · 12:07 PM China’s central bank governor announced plans to promote the international use of the digital yuan and called for the development of a multi-polar global currency system, where several currencies dominate the world economy.China will establish an international operation centre for e-CNY in Shanghai, People’s Bank of China Pan Gongsheng said on Wednesday (Jun 18) at the Lujiazui Forum, a gathering of financial industry executives and regulators. Policymakers will...

The euro is the world’s second most-used currency, accounting for 20% of global foreign exchange reserves, compared with 58% for the US dollar.Harbour Asset Management fixed income and currency strategist, Hamish Pepper, said the greenback was losing favour, but only at the margin.“The set-up to this weakness in the US dollar was one where pretty much everybody acknowledged that it was an expensive, or overvalued, currency,” Pepper said.AdvertisementAdvertise with NZME.“It’s been supported by this exceptional US economy, so that was the story.“All of a sudden we’ve had a couple of...

Asian currencies traded mostly flat on Wednesday as investors remained risk-averse amid the ongoing Israel-Iran war and uncertainty ahead of the U.S. Federal Reserve’s policy decision. The dollar edged slightly lower, pressured by weak U.S. economic data, while traders anticipated dovish signals from the Fed. The South Korean won and Taiwan dollar were notable outperformers. The USD/KRW dropped 0.6%, nearing an eight-month low, while the USD/TWD fell 0.4%. The Chinese yuan (USD/CNY) and Singapore dollar (USD/SGD) held steady, while the Australian dollar (AUD/USD) rose 0.2%. India’s rupee (USD/INR) also remained...

June 18 (Reuters) - The following table shows rates for Asian currencies against the dollar at 0209 GMT. CURRENCIES VS U.S. DOLLAR Currency Latest bid Previous Pct day Move Japan yen 145.190 145.25 +0.04 Sing dlr 1.285 1.2857 +0.05 Taiwan dlr 29.530 29.535 +0.02 Korean won 1372.400 1374 +0.12 Baht 32.608 32.56 -0.15 Peso 56.776 56.256 -0.92 Rupiah 16315.000 16275 -0.25 Rupee 86.240 86.24 +0.00 Ringgit 4.245 4.243 -0.05 Yuan 7.187 7.1874 +0.01 Change so far in 2025 Currency Latest bid End 2024 Pct Move Japan yen 145.190 157.180 +8.26...