Currencies

India’s foreign exchange reserves rose by $5.17 billion to reach $696.66 billion for the week ended June 6, according to data released by the Reserve Bank of India (RBI) on Friday. This marks a rebound after a $1.24 billion decline in the previous week.The increase was primarily driven by a $3.47 billion rise in foreign currency assets, which stood at $587.69 billion. Gold reserves also contributed, increasing by $1.58 billion to $85.88 billion during the week. Special Drawing Rights (SDRs) rose by $102 million to $18.67 billion, while India’s reserve...

The simultaneous sharp declines in US shares, bonds and the dollar after President Trump’s “Liberation Day” raise an important question. Is the US dollar’s role as the world’s reserve currency under threat?We look at why, for now, there’s no real alternatives and the dollar’s likely to remain top dog despite the volatility.This article isn’t personal advice. Remember, investments and any income from them can rise and fall in value, so you could get back less than you invest. Past performance isn’t a guide to the future. If you’re not sure...

USD/JPY rises to near 144.00 as demand for the US Dollar has increased against the Japanese yen in a risk-off environment. Israel strikes Iran to rid-off existing survival threat from Iran. The BoJ and the Fed are expected to keep interest rates steady next week. The USD/JPY pair climbs to near 144.00 during European trading hours on Friday after recovering early losses. The pair strengthens as the US Dollar (USD) outperforms across the board amid growing war tensions between Israel and Iran. The US Dollar Index (DXY), which tracks the...

A wave of geopolitical panic swept across Asian markets on Friday (Jun 13), after Israel launched strikes on Iran’s nuclear and military infrastructure, stoking fears of a wider regional conflict.Singapore’s Straits Times Index (STI) fell about 0.5 per cent or 19.1 points by 1 pm, trading at 3,903.8. Hong Kong’s Hang Seng Index slid 1.1 per cent or 255.7 points to 23,779.6.Asean markets took hits as investor confidence waned. Malaysia’s Kuala Lumpur Composite Index (KLCI) fell about 0.6 per cent, as Vietnam and Indonesia’s main stock indices slid 0.8 per...

Gold prices rose in India on Friday, according to data compiled by FXStreet. The price for Gold stood at 9,480.17 Indian Rupees (INR) per gram, up compared with the INR 9,366.50 it cost on Thursday. The price for Gold increased to INR 110,593.10 per tola from INR 109,249.10 per tola a day earlier. FXStreet calculates Unit measure Gold Price in INR 1 Gram 9,480.17 10 Grams 94,818.31 Tola 110,593.10 Troy Ounce 294,868.70   Daily digest market movers: Gold price surges as the Greenback and US yields tumble The Greenback plunges...

The rupee ended nearly unchanged against the US dollar on Thursday, rising just 1 paisa to settle at 85.52, as weakness in the greenback against major currencies offset pressure from a sharp decline in domestic equities and a rise in crude oil prices.At the interbank foreign exchange market, the rupee opened at 85.43 and moved within a narrow range of 85.43 to 85.65 before closing at 85.52, compared to its previous close of 85.53 on Wednesday, reported PTI.Traders said the local unit found some support from global cues after the...

TRUMP meme coin remains near the critical $10.00 support level as recovery remains elusive.The Trump family project, World Liberty Financial, releases key updates for USD1, including bridge and swap features.The massive decline in the derivatives market Open Interest, along with low trading volumes, signals waning investor interest.Trump Official's (TRUMP) bulls are losing grip as the meme coin approaches support at $10.00 at the time of writing on Thursday. The token's recovery has remained largely subdued over the last few weeks, reflecting declining sentiment, falling derivatives market Open Interest (OI) and...

Let’s talk exchange rates. First, there’s an official exchange rate in Argentina, the sort of exchange rate you’re used to. If you use Google as your currency converter – searching, say, “1 AUD in Argentinian pesos” – you will get this official exchange rate, which is the one quoted above, $1 to 768 pesos.If you withdraw cash from an ATM in Argentina, that withdrawal will be calculated using this official exchange rate. So far, so normal.Cash is common in Argentina, but you’re better off paying by card.Credit: BloombergThen, however, there’s...

Rs 18 lakh per dead passenger in advance paymentThe Montreal Convention also mandates that airlines make advance payments to the victims' families without delay to meet immediate financial needs, such as funeral costs or temporary living expenses. These advance payments must be no less than 16,000 SDRs, or approximately Rs 18 lakh per passenger, and are required to be issued promptly, even before the official investigation concludes. Dreamliner would have cost up Rs 1450 croreBeyond the human tragedy, the crash also represents a significant material loss for Air India. The...

LUMBINI, June 12: The Revenue Investigation Office, Butwal, has seized illegal currency worth Rs 34.655 million so far in the current fiscal year. This includes currencies from various countries, including the Nepalese rupee.Of the total amount confiscated, Rs 19.1 million was in Nepalese currency, while Rs 15.5 million was in Indian currency. Related story Revenue Investigation Office, Butwal files case against vape sm... Chief Investigation Officer Bibek Ghimire said Indian nationals are frequently arrested with such illegal money in the Nepal-India border areas.According to data from the current fiscal year,...