Currencies

More than 12 years after he went underground, the National Investigation Agency (NIA) on Friday arrested a key accused in the 2013 Kasaragod fake currency cases from the Mumbai airport, following his extradition from the United Arab Emirates. The accused, Moideenabha Ummer Beary alias Moideen, had been in the custody of UAE authorities since 2015 and was handed over to Indian officials after the completion of a simplified extradition process. He was wanted in connection with four cases registered by the NIA in 2013 following the seizure of fake Indian...

India's foreign exchange reserves are back on the rise—and they're inching closer to the $700 billion milestone once again. According to data released by the Reserve Bank of India (RBI) on Friday (June 20), forex reserves jumped by $2.294 billion to reach $698.95 billion for the week ended June 13.This follows a strong $5.17 billion increase in the previous week ended June 6, taking the reserves up from $691.48 billion to $696.65 billion. India's reserves are now just $6 billion shy of their all-time high of $704.885 billion, recorded at...

New Delhi, Jun 20 (PTI) A fugitive with a 12-year-old Interpol red notice against him and wanted by the National Investigation Agency (NIA) in connection with a fake-currency racket was deported by the UAE on Friday in an operation coordinated by the CBI, officials said. Moideenabba Ummer Beary, wanted by the NIA’s Kochi unit, was brought to Mumbai’s Chhatrapati Shivaji Maharaj International Airport from Dubai by flight number AI-920, they said. “The subject was earlier geo-located in UAE through close follow up by CBI through Interpol with NCB-Abu Dhabi,” a...

In a significant development, Moideenabba Ummer Beary, a fugitive with a 12-year-old Interpol red notice, was successfully deported by the UAE back to India on Friday. This operation was meticulously coordinated by the Central Bureau of Investigation (CBI) and the National Investigation Agency (NIA), officials confirmed.Beary, who was wanted by the NIA's Kochi unit, landed at Mumbai's Chhatrapati Shivaji Maharaj International Airport. His extradition from Dubai marked the culmination of a focused international effort spearheaded by Interpol, the Ministry of Home Affairs (MHA), and the Ministry of External Affairs...

India’s foreign exchange reserves rose by $2.294 billion to $698.95 billion for the week ended June 13, the Reserve Bank of India (RBI) said on Friday, marking the second consecutive weekly increase.This follows a $5.17 billion jump in the previous week ended June 6. The country’s forex reserves had hit a record high of $704.885 billion in late September 2024. The latest increase was driven primarily by a rise in foreign currency assets, which grew by $1.739 billion to $589.426 billion. These assets include the effects of changes in the...

 Forex reserves had touched an all-time high of $704.885 billion in end-September 2024. | Photo Credit: Reuters India's forex reserves rose $2.294 billion to $698.95 billion for the week ended June 13, the RBI said on Friday (June 20, 2025). The overall reserves had increased by $5.17 billion to $696.65 billion for the previous reporting week ended June 6. Forex reserves had touched an all-time high of $704.885 billion in end-September 2024. For the week ended June 13, foreign currency assets, a major component of the reserves, rose by $1.739...

KUALA LUMPUR, June 20 — The ringgit rebounded from yesterday’s losses to end higher against the US dollar on Friday, as the latest developments on the Iran-Israel war sparked some buying interest in emerging currencies, a dealer said.At 6 pm, the local note strengthened to 4.2505/2565 versus the greenback from yesterday’s close of 4.2590/2625.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the Israel-Iran war continued to take centre stage as the United States was still weighing its option to participate in the conflict.“White House spokeswoman...

Even if ending the dollar’s reign as the world’s reserve currency could take a long time, and even if it does not actually happen, the chances of it happening are no longer zero. In the film Oppenheimer, the scientists discuss the possibility that the Trinity atomic test could destroy the world. They conclude that the chances are ‘near zero’. “Zero would be nice,” responds the alarmed General Groves character. A few weeks ago, one would have said that the chances of the US dollar losing its reserve currency status was...

One of the more intriguing financial trends that has gained popularity in recent years is the de-dollarization movement. De-dollarization is an effort by a growing number of countries to reduce the role of the U.S. dollar in international trade. Countries like Russia, India, China, Brazil and Malaysia, among others, are seeking to set up trade channels using currencies other than the almighty dollar. With President Donald Trump’s international trade war ramping aggressively, is the reserve status of the U.S. dollar going to be the next domino to fall? — History...

Asian currencies gained on Friday as market risk sentiment improved after the White House announced President Donald Trump would delay any decision on military action against Iran for two weeks. The move helped ease fears of an imminent U.S. escalation in the Iran-Israel conflict, leading to a retreat in the U.S. dollar. The dollar index slipped 0.2% following the announcement, reversing some gains made earlier in the week after the Federal Reserve maintained a hawkish stance during its recent meeting. Despite the dip, the greenback remained up 0.4% for the...