Currencies

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...

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...

BRICS nations to discuss greater use of national currencies for trade at the upcoming Rio summit, amid US dollar uncertainty. A BRICS common currency is deemed impractical.New Delhi, Jun 21 (PTI) 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...

As the BRICS summit approaches in Rio de Janeiro, the focus is squarely on strengthening collaboration among member nations against terrorism and in support of the Global South's aspirations. Envoys are advocating for the broader use of national currencies in trade and championing sustainable governance reforms.India is emphasizing BRICS' crucial role in driving scalable solutions for developing nations and is pushing for financial inclusion and the expanded use of national currency in international trade. Prime Minister Narendra Modi is expected to attend, underscoring India's commitment to shaping BRICS as...

Central bankers spend their careers worrying about risks that most investors ignore. In 2024, they bought a record 1,045 tons of gold as insurance against globally swelling sovereign debt loads and growing geopolitical fractures. Those same issues might even be leading a few outliers to consider another hedge asset: Bitcoin (BTC -1.99%). What sounded foolish a decade ago now ticks three boxes every reserve manager studies -- specifically, the asset's limited supply, its round-the-clock liquidity, and its (partial) insulation from certain geopolitical risks. If gold hoards are a vote of...

India's foreign exchange reserves have surged, showing a notable increase of USD 2.294 billion, bringing the total to USD 698.950 billion as of the week ending June 13, according to official figures from the Reserve Bank of India.During the recent monetary policy meeting, RBI Governor Sanjay Malhotra assured that this significant forex reserve is sufficient to cover 11 months of imports and approximately 96% of India's external debt. The reserves are approaching the all-time high mark of USD 704.89 billion recorded in September 2024.RBI data highlights that the foreign...