Currencies

Thane, Jun 7 (PTI) Two persons have been arrested with counterfeit currency with a face value of Rs 1.08 lakh in Maharashtra’s Thane district, police said on Saturday. Based on a tip-off, the police apprehended the accused in the Vinay Nagar area of Mira Road on June 2 and seized 26 notes of Rs 500 denomination from them, an official said. He said the accused, Suparna Ramkrishna Manna (24) and Suryadev Gopinath Gayen (20), were natives of West Bengal. Show Full Article “A search at the duo’s residence revealed that...

MUMBAI: The Indian rupee strengthened modestly on Friday as the Reserve Bank of India’s steepest rate cut in five years boosted local equities, helping the South Asian currency eke out a gain even as the dollar firmed against major peers. The rupee closed at 85.6250 against the US dollar, up from its close at 85.79 in the previous session. The rupee declined 0.2% on the week. The Reserve Bank of India (RBI) cut its key repo rate by 50 basis points on Friday and slashed the cash reserve ratio (CRR)...

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NEW YORK :Wall Street rebounded on Friday and U.S. Treasury yields jumped as a generally upbeat employment report and a bounce-back in Tesla shares helped put the indexes on track for weekly advances.All three major U.S. stock indexes surged from the starting gate with robust gains, while bitcoin jumped and crude prices touched their highest level since late April.The U.S. economy added 139,000 jobs in May, topping analyst expectations, while the unemployment rate held firm at 4.2 per cent, according to the Labor Department. The report also showed hotter-than-anticipated wage...

India's forex kitty enough to fund over 11 months of imports: RBI chiefIANS India's foreign exchange reserves stood at $691.5 billion, as of May 30, and are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding, RBI Governor Sanjay Malhotra said on Friday. For the week ended May 30, the reserves dropped by $1.2 billion to break an 8-week rising trend. India's foreign exchange reserves had recorded a robust increase of $6.99 billion to $692.72 billion in the preceding week...

Elior Manier for OANDA The most volatile major currencies in 20252025 has proven to be an unusually volatile year for foreign exchange movements. The Trump administration and ongoing conflicts have led to frequent exchanges between world leaders and policymakers, while record-high tariffs are affecting global trade more significantly than we have seen since the 2000s.Since 2020, the world has seen many disturbances compared to a much more geopolitically stable first part of the millennium. Between COVID-19, new conflicts around the globe, unprecedented central bank policies, and trade wars, there is...

India’s foreign exchange reserves fell by $1.237 billion to $691.485 billion for the week ended May 30, the Reserve Bank of India (RBI) said on Friday, snapping a sharp gain in the previous week.The drop comes after reserves had jumped by $6.992 billion in the preceding week to $692.721 billion. India’s forex reserves had touched a record high of $704.885 billion in late September 2024. Despite the weekly decline, RBI Governor Sanjay Malhotra said earlier in the day that the reserves remain robust and sufficient to cover more than 11...

India’s forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. The overall reserves had jumped by $6.992 billion to $692.721 billion in the previous reporting week. The forex reserves had touched an all-time high of $704.885 billion in end-September 2024. Earlier in the day, RBI Governor Sanjay Malhotra said that at $691.5 billion, the reserves are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding. For the week ended...

MUMBAI: The Indian rupee strengthened modestly on Friday as the Reserve Bank of India’s steepest rate cut in five years boosted local equities, helping the South Asian currency eke out a gain even as the dollar firmed against major peers. The rupee closed at 85.6250 against the U.S. dollar, up from its close at 85.79 in the previous session. The rupee declined 0.2% on the week. The Reserve Bank of India (RBI) cut its key repo rate by 50 basis points on Friday and slashed the cash reserve ratio (CRR)...

(Bloomberg) -- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. Markets across much of emerging Asia traded in a narrow range ahead of US payrolls data, with the exception of Indian bonds that swung wildly after a bigger-than-expected interest-rate cut. Bloomberg’s Asia Dollar Spot Index dipped 0.1% on Friday, with the stock benchmarks in Taiwan, Hong Kong, and mainland China also slipping. Bucking the trend was India, where the Nifty 50 advanced and the 10-year bond yield slid...