Currencies

The US dollar strengthened in early trading as investors sought havens in a move to shield against mounting geopolitical risks following the US strikes on Iran.The US currency was quoted stronger against the euro and most major foreign-exchange peers as markets opened for the week in Sydney. Traders are forecasting a drop in stocks and a jump in crude prices and gold as the bombing fuels demand for safety and angst about energy supply. “This increased-risk environment will drive investors towards safe-haven assets,” said Ahmad Assiri, a market strategist at...

The European Central Bank (ECB) is gearing up for a significant milestone with the planned launch of the digital euro in October 2025. This development marks a pivotal shift in the region’s financial infrastructure, aiming to integrate digital currency into everyday transactions across the euro area. ECB President Christine Lagarde has been vocal about the initiative, emphasizing its potential to serve all citizens uniformly. Lagarde’s recent statements highlight the digital euro’s inclusive design, drawing parallels to China‘s e-CNY, which has been piloted on a substantial scale. She noted that the...

This is CNBC's live blog covering Asia-Pacific markets. Asia-Pacific markets mostly declined Monday, after the United States' attack on three nuclear sites in Iran raised oil prices and investors' fears of an escalation in the Middle East conflict. Oil prices fell in late Asian hours, reversing course from gains earlier in the day. Brent Crude was trading at $76.75 per barrel after falling 0.32% as of 4.23 p.m. Singapore time, while the West Texas Intermediate crude lost 0.33% to $73.6. Japan's benchmark Nikkei 225 ended the day 0.13% lower at 38,354.09, while the...

The further escalation in the Middle East conflict over the weekend, after the US attacked Iranian nuclear sites, increases the likelihood of a further spike in oil prices and will weigh on investor risk appetite. Brent crude futures had dipped towards US$74 on Friday, amid increased hopes for a diplomatic solution for the Iran-Irael conflict but subsequently rebounded towards US$76. The S&P closed modestly lower while the Euro Stoxx advanced 0.7%. The US dollar was firmer against a basket of developed market currencies. Treasury yields declined following dovish comments from...

Some of emerging Asia’s biggest central banks look to be dialling back their interventions in the currency market.The central banks of India and Malaysia have reduced the size of some derivatives positions they use to weaken their currencies. Taiwan has allowed its currency to surge against the US dollar in recent weeks and dropped hints that it would be comfortable with more if the moves were “orderly”. South Korea’s giant national pension fund has ended its five-month support of the won.A major reason for these moves is a simple change...

Economist and best-selling author Nassim Taleb says a single asset has overtaken the US dollar’s position as the world’s de facto reserve currency. In a new interview with Bloomberg, the Black Swan author says that the US dollar has lost its status as a reliable safe-haven asset, noting that people prefer to invest in the stock market rather than hold a currency that declines in value over time. He also says that America’s sweeping sanctions against Russia for its invasion of Ukraine marked the beginning of the end of the...

The foreign exchange market, commonly known as forex, represents the world's largest and most liquid financial market, with daily trading volumes exceeding $7 trillion. At the heart of this massive marketplace lie the forex major pairs, which form the backbone of international currency trading and serve as the primary vehicles for both institutional and retail traders worldwide.What Are Forex Major Pairs?Forex major pairs consist of the most heavily traded currency combinations in the global market, all of which include the US Dollar (USD) as either the base or quote currency....

Home NewsWhy is so much money suddenly coming to India from THESE countries, and who is sending it? There has been an increase in AED-INR transactions since June 19. Officials at currency exchange houses say NRIs are no longer waiting for further depreciation. Image for representational purposes New Delhi: Due to the depreciation of the Indian rupee, the Indians living in the Gulf countries like the United Arab Emirates (UAE) and Saudi Arabia have increased remittances back to India. It is important to note that the rupee has weakened against...

Weeks before top BRICS leaders converge in Rio de Janeiro for summit talks, envoys of leading member nations of the grouping hinted that it could focus on greater use of national currencies for trade in the face of uncertainties over Trump administration’s aggressive policy on tariff. Russian Ambassador Denis Alipov reaffirmed Moscow’s strong support for trade in local currency among BRICS member nations and described the grouping as ‘a serious platform for discussing joint soluti’ons to big challenges’. The summit is unlikely to make any significant progress on the proposed...

Weeks before top BRICS leaders converge in Rio de Janeiro for summit talks, envoys of leading member nations of the grouping hinted that it could focus on greater use of national currencies for trade in the face of uncertainties over Trump administration's aggressive policy on tariff.Russian Ambassador Denis Alipov reaffirmed Moscow's strong support for trade in local currency among BRICS member nations and described the grouping as "a serious platform for discussing joint solutions to big challenges".The summit is unlikely to make any significant progress on the proposed BRICS currency...