Currencies

 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...

US Dollar Index depreciates, possibly driven by a technical correction.The Greenback may regain ground due to the potential threat of US direct involvement in the Middle East conflicts.Fed Chair Powell cautioned that ongoing policy uncertainty will keep the central bank on hold.The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the second successive day and trading lower at around 98.70 at the time of writing. Traders will likely gauge the Fed's Monetary Policy Report, scheduled for...

MUMBAI, June 19: Xflow, India’s leading cross-border payments platform, today announced its bold vision to support over 30,000 Indian exporters by the end of 2025. The company is on a mission to simplify global money movement for IT service providers, funded startups, SaaS companies & fintech platforms by offering transparent, fast, and cost-effective alternatives to traditional banking systems.• Enabling Indian service exporters to go global with seamless, affordable, fast and transparent international payments• Xflow currently enables businesses to receive payments in 25+ currencies• With savings of up to 50% compared...

IF EVER there were a country that needed to borrow at preferential interest rates, it is the US with its mounting debts, ageing demographics and evaporating fiscal discipline. If ever there were a country deliberately undermining the reserve currency status that keeps its borrowing costs low, it is the US with its selfish trade agenda, overreaching sanctions and poisonous politics.With China unwilling to take the steps required for the renminbi to replace the US dollar and Europe unable to do what needs to be done on behalf of the euro,...

Dubai-Bound Passenger Caught at Mumbai Airport with Diamonds and Currency Worth ₹1.7 Crore | File Photo Mumbai: Mumbai Airport Customs officials intercepted one Indian national at CSMI Airport, who was about to depart for Dubai from Mumbai with foreign currency and diamonds collectively valued at Rs 1.70 crore. According to the Customs sources, on the basis of specific intelligence received, the officers of Mumbai Customs intercepted one Indian national at CSMI Airport, who was about to depart for Dubai from Mumbai on 17.06.2025. File Photo"On examination of baggage and personal...

Oil prices have taken a breather after a sharp 21.74 per cent surge in Brent futures this month (June 2025), driven by geopolitical tensions in the Middle East. While Brent is currently trading at $75.6 per barrel, the possibility of prices testing $120 cannot be ruled out if the Iran-Israel conflict escalates. For India, a net oil importer, rising crude prices pose significant risks to the economy, currency, and markets. Here are three key risks India should watch as tensions simmer in the Middle East, along with insights into whether...