Currencies

Asian markets stuttered on Friday as optimism from “very positive” talks between presidents Donald Trump and Xi Jinping was wiped out by the stunning public row between the US leader and Elon Musk.The much-anticipated discussions between the heads of the world’s biggest economies fuelled hopes for an easing of tensions following the US leader’s “Liberation Day” global tariff blitz that targeted Beijing particularly hard.However, investors remained wary after an extraordinary social media row between Trump and billionaire former aide Musk that saw the two trade insults and threats, and sent...

Tajuddin Ahmed endured the worst-ever slur on his political career due to an outrageous and mischievous campaign orchestrated against him very subtly from behind the scenes by his inimical party colleagues. Following his government’s return from Mujibnagar, they spread a malicious rumour that Tajuddin’s decision to get one taka denomination currency notes printed by the government of India’s Security Printing Press at Nashik had opened the floodgates for India to wreck Bangladesh’s economy. Before leaving Calcutta, Tajuddin had placed an order for printing 80 crore notes of one taka denomination...

BENGALURU: Asian currencies were subdued on Thursday with investors tracking developments in US trade negotiations, while South Korean stocks led gains among regional equities on optimism around President Lee Jae-myung’s pro-growth policies. In South Korea, shares rose 1.5% to their highest since July 2024, after gaining 2.7% on Wednesday. The won advanced 0.3% to hit an eight-month high. South Korea’s new President Lee held his first cabinet meeting on Thursday, focusing on an emergency package to tackle stagnating economic growth and provide household relief. MSCI’s gauge of Asian emerging market...

India and Central Asian states on Thursday decided to widen counter-terror, trade and connectivity initiatives as external affairs minister S Jaishankar met Central Asian ministers here on the eve of the third India-Central Asia Dialogue.During bilateral meetings with foreign ministers of Kazakhstan, Uzbekistan, Tajikistan, Kyrgyzstan and Turkmenistan, there were detailed discussions on expanding security cooperation in the backdrop of Pahalgam terror attacks, besides boosting trade ties and connectivity initiatives.Central Asian states of Uzbekistan, Tajikistan and Kyrgyzstan have been facing increasing threats from cross-border terror infrastructure in the Af-Pak region. Later,...

External Affairs Minister S. Jaishankar said more efforts and resources need to be invested in improving India’s connectivity with Central Asia. Photo: X/@DrSJaishankar via PTI More efforts and resources need to be invested in improving India’s connectivity with Central Asia, said External Affairs Minister S. Jaishankar on Thursday (June 5, 2025), highlighting the need for intensifying trade through the port of Chabahar in Iran. Speaking at the India-Central Asia Business Council meeting ahead of the fourth India-Central Asia Dialogue that is scheduled for Friday (June 6, 2025), Mr. Jaishankar expressed...

The public is confused by a widely shared video on YouTube that claims the Reserve Bank of India (RBI) intends to discontinue issuing Rs 500 notes by March 2026. A YouTube channel named Capital TV channel (capitaltvind) posted a video regarding this, which immediately went viral and made many wonder if the Rs 500 note is being phased out or not.What is the rumor regarding the Rs 500 currency note?The video claims that the RBI is working on a phased withdrawal of Rs 500 currency notes, with the process supposedly...

Here is what you need to know on Thursday, June 5:Major currency pairs fluctuate within their weekly ranges early Thursday. The European Central Bank (ECB) will announce monetary policy decisions and the US economic calendar will offer Challenger Job Cuts data for May, weekly Initial Jobless Claims reading, alongside the Goods Trade Balance figures for April. ECB President Christine Lagarde will speak on the outlook and respond to questions in the post-meeting press conference. Finally, several Federal Reserve (Fed) policymakers are scheduled to deliver speeches in the second half of...

Asian currencies posted modest gains on Thursday, lifted by a weaker U.S. dollar after disappointing ADP payroll data heightened expectations of further interest rate cuts by the Federal Reserve. The greenback slipped as the soft labor report signaled deeper cracks in the U.S. job market, with attention now turning to the upcoming nonfarm payrolls data for clearer direction. The Japanese yen weakened slightly, with USDJPY up 0.1%, following underwhelming wage growth figures that cast doubt on consumer spending strength and Japan’s economic outlook for 2025. Meanwhile, South Korea’s won firmed,...

The Indian rupee is projected to post modest gains this year, underperforming most Asian currencies despite a weakening U.S. dollar, according to a Reuters poll of 41 foreign exchange strategists. A partially convertible currency, the rupee has dropped around 0.3% year-to-date, making it one of Asia’s weakest performers. In contrast, regional peers like the Korean won, Thai baht, Malaysian ringgit, and Philippine peso have each climbed over 4%. Even robust GDP growth of 7.4% in the January–March quarter—India’s fastest since early 2024—has not given the rupee much upward momentum. Analysts...

Gold prices fell in India on Thursday, according to data compiled by FXStreet. The price for Gold stood at 9,297.71 Indian Rupees (INR) per gram, down compared with the INR 9,313.37 it cost on Wednesday. The price for Gold decreased to INR 108,443.00 per tola from INR 108,629.30 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,297.71 10 Grams 92,974.23 Tola 108,443.00 Troy Ounce 289,191.40   Gold daily market movers: XAU/USD soars as US Treasury yields plummet, weighing on the US Dollar Gold price rallies...