Currencies

​​​​ST. PETERSBURGThe US dollar’s monopoly will slowly end as Washington is using it for political purposes, Andrey Kostin, CEO of the Russian VTB Bank, said in a recent statement.Kostin told Anadolu at the St. Petersburg International Economic Forum that sanctions imposed on Russia are illegitimate and the country is used to the treatment by the international community.“Sanctions are certainly bad, but we have to work regardless,” he said. Kostin stated that there has been a pause in sanctions on Russia during US President Donald Trump’s second term in office but...

American currency Dollar and Gold ingot combinations. Close up for dollar and gold ingotgetty The U.S. Dollar Index, when measured against a basket of other major currencies, has declined by approximately 10% this year through mid-June and is currently trading at its lowest level in three years. That’s no small dip, and there may be additional downside risk due to concerns over America’s growing deficit and the ongoing fluctuations in tariffs. U.S. dollar's value has sunk approximately 10% so far this yearU.S. Global Investors In a note to clients last...

American currency Dollar and Gold ingot combinations. Close up for dollar and gold ingotgetty The U.S. Dollar Index, when measured against a basket of other major currencies, has declined by approximately 10% this year through mid-June and is currently trading at its lowest level in three years. That’s no small dip, and there may be additional downside risk due to concerns over America’s growing deficit and the ongoing fluctuations in tariffs. U.S. dollar's value has sunk approximately 10% so far this yearU.S. Global Investors In a note to clients last...

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldTop central bankers have delivered a scathing assessment of stablecoins, saying they “perform badly” on key requirements for being widely used as money, disavowing US President Donald Trump’s push to make them a pillar of mainstream finance.The Bank for International Settlements said stablecoins fail the three main tests of any money because they are not backed by central banks, lack sufficient guardrails against illicit usage and do not have the...

With some major economies leaping onto the stablecoin train – or being urged to do so, to further globalise their currencies – others are mulling whether getting on board would be akin to either riding the gravy train or feeling it fail to gather steam.Now, the international financial organisation known as the “bank for central banks” has waded into the stablecoin debate as the buzzword gathers momentum.In a “special chapter” released on Tuesday in advance of Sunday’s release of its Annual Economic Report 2025, the Bank for International Settlements (BIS)...

For over three-quarters of a century, the US dollar (USD) has stood as the world’s principal reserve currency, following the US-led global order after World War II. Its enduring preeminence, demonstrated by a dominant share of about 59 to 60 per cent of global foreign exchange (FX) reserves, has conferred unique advantages on the US – from lower borrowing costs to having a potent instrument of foreign policy through financial sanctions.However, history shows that no currency’s dominance is eternal. Recent geopolitical shifts and evolving national policies now prompt a critical...

Asian currencies advanced on Tuesday after U.S. President Donald Trump announced that Israel and Iran had agreed to a ceasefire, easing geopolitical tensions. However, market sentiment remained cautious as traders awaited formal confirmation from both countries. Just before the ceasefire deadline, Iran launched a missile strike on Israel, raising doubts about the truce’s durability. The improved risk appetite supported regional currencies. The Australian dollar (AUD/USD) rose 0.5%, often seen as a key barometer of Asia-Pacific risk sentiment. The Japanese yen (USD/JPY) gained 0.5%, recovering from prior losses, while the Chinese...

Currencies, stocks and bonds in developing countries are defying US President Donald Trump’s trade war and the conflict in the Middle East to outperform global markets in 2025, after years in the shadow of a strong dollar.A JPMorgan index of the local currency bonds of large emerging markets and an MSCI gauge of their shares have each gained around 10 per cent so far this year. In comparison, the MSCI World index, covering large stocks across 23 developed economies, is up 4.8 per cent, while the FTSE World Government Bond...

Asian shares gained and oil prices were down on Tuesday, as fears of an energy market shock eased following US President Donald Trump’s announcement of a ceasefire between Iran and Israel.Investors were relieved that Iran did not retaliate to a US attack on its nuclear facilities by throttling oil transport through the strategic Strait of Hormuz.On Monday, Iran said it had launched missiles at a major US base in Qatar, which described the situation as stable, while analysts said oilfield assets were unaffected.“Tehran played it cool. Their ‘retaliation’ hit a...

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 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 in...