Currencies

Rs 18 lakh per dead passenger in advance paymentThe Montreal Convention also mandates that airlines make advance payments to the victims' families without delay to meet immediate financial needs, such as funeral costs or temporary living expenses. These advance payments must be no less than 16,000 SDRs, or approximately Rs 18 lakh per passenger, and are required to be issued promptly, even before the official investigation concludes. Dreamliner would have cost up Rs 1450 croreBeyond the human tragedy, the crash also represents a significant material loss for Air India. The...

LUMBINI, June 12: The Revenue Investigation Office, Butwal, has seized illegal currency worth Rs 34.655 million so far in the current fiscal year. This includes currencies from various countries, including the Nepalese rupee.Of the total amount confiscated, Rs 19.1 million was in Nepalese currency, while Rs 15.5 million was in Indian currency. Related story Revenue Investigation Office, Butwal files case against vape sm... Chief Investigation Officer Bibek Ghimire said Indian nationals are frequently arrested with such illegal money in the Nepal-India border areas.According to data from the current fiscal year,...

Indian stocks dipped 1% on Thursday (June 12, 2025) after United States withdrew diplomats from the West Asian nations saying that Iran was “not safe” and may be attacked by Israel.Benchmark Nifty 50 and Sensex fell 1% to 24,888,20 points and 81692 points on Thursday. All sectoral indices dipped with Financial services indices falling nearly 2%. With Thursday’s slump Indian markets broke a consecutive six day positive returns. “The downturn was attributed to intensified profit-booking and risk-off sentiment, as escalating geopolitical tensions in the Middle East overshadowed positive macro cues such...

Supranext launches complementary currencies in the US to revive local economies and empower small businesses through a stable, three-tiered system of crypto, paper, and coin-based tools. Rome, Italy, June 12, 2025 (GLOBE NEWSWIRE) -- Supranext, a next-generation hybrid financial operator, announces the launch of its three-tiered complementary currency system, comprising a crypto-based token, physical paper vouchers, and metallic coins. The system aims to function alongside national currencies, offering a new form of liquidity to underserved regions and businesses. Supranext"Our goal is to infuse vitality into the parts of the US...

In a significant shift for global financial markets, the trend of de-dollarization is gaining momentum across Asia, influencing stock markets and reshaping economic strategies. As countries in the region increasingly move away from reliance on the U.S. dollar for trade and financial transactions, the implications for investors and policymakers are profound. This movement, driven by geopolitical uncertainties and monetary policy shifts, has come into sharp focus in recent days, with fresh reports highlighting its growing impact on Asian economies and equity markets.Understanding de-dollarization in Asia Copy link to section De-dollarization...

This paper examines the accelerating global momentum behind central bank digital currencies (CBDCs), exploring how central banks are responding to the twin pressures of financial digitalization and geopolitical competition. It provides a comprehensive analysis of the motivations driving CBDC development from enhancing payment system efficiency and financial inclusion to preserving monetary sovereignty in the face of private digital currencies. Through a comparative lens, the paper analyzes divergent CBDC models — retail, wholesale and hybrid — adopted across advanced and emerging economies, with particular attention to design features, operational challenges and...

The U.S. dollar dropped to its lowest level since April 2022, driven by rising tensions in the Middle East and fragile trade relations between Washington and Beijing. As investors flocked to safe-haven assets, the global stock rally decelerated, with the MSCI All-Country World Index stagnating just below its record high.Oil prices briefly surged by 4% before retreating, influenced by the U.S.'s relocation of personnel from the Middle East due to increased security risks. The ongoing volatility in economic policies prompted concerns, as President Trump's tariffs and fluctuating trade relations...

MUMBAI: The Indian rupee weakened slightly on Thursday, pressured by corporate dollar demand and likely portfolio outflows even as broad-based dollar weakness boosted its regional peers. The rupee closed at 85.60 against the U.S. dollar, down 0.1% from its close at 85.51 in the previous session. Asian currencies rose with the Taiwanese dollar leading gains with a 1.6% rise while the offshore Chinese yuan rose 0.2%. The dollar index, meanwhile, fell 0.4% to 98, its lowest level in over a month. The rupee was unable to benefit from a broadly...

Dar es Salaam. The Tanzanian shilling has rallied to become one of the top performing currencies in the world, due mainly to record high gold prices and a surge in inflows of U.S. dollars from agriculture, tourism, and transport sectors. The central bank quoted the shilling trading at 2,578/2,604 levels today, up from 2,586/2,612 at the start of March. The 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿 𝗼𝗳 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝗮𝘁 𝘁𝗵𝗲 𝗕𝗮𝗻𝗸 𝗼𝗳 𝗧𝗮𝗻𝘇𝗮𝗻𝗶𝗮 (𝗕𝗼𝗧), 𝗘𝗺𝗺𝗮𝗻𝘂𝗲𝗹 𝗔𝗸𝗮𝗿𝗼 (pictured), said the outlook for the Tanzanian shilling is positive throughout the year, bucking the historical trend of depreciation...

KATHMANDU, JUNE 12The Revenue Investigation Office, Butwal, has seized illegal currency worth Rs 34.655 million so far in the current fiscal year. The confiscated amount includes various foreign currencies, including Nepalese rupees. According to office, Rs 19.1 million was in Nepali currency and Rs 15.5 million in Indian currency. The rest included US dollars and UAE dirhams.Most of the illegal cash was recovered from areas near the Nepal-India border, with Indian nationals often found carrying such undeclared money. The seizures were made through joint operations by the Revenue Investigation Team...