Currencies

Asian currencies posted modest gains on Monday as the U.S. dollar extended losses, driven by President Donald Trump’s decision to delay steep tariffs on the European Union. The U.S. Dollar Index dropped 0.3% during Asian trading, hitting its lowest level in over a month, while Dollar Index Futures mirrored the decline. The greenback’s weakness followed Trump’s announcement on Sunday to postpone the imposition of 50% tariffs on EU imports from June 1 to July 9. The move came after a phone call with European Commission President Ursula von der Leyen,...

The euro and other global currencies experienced a significant boost on Monday following President Donald Trump's decision to delay imposing 50% tariffs on EU imports, initially set for June 1. This move, requested by the EU to facilitate a better deal, comes amid Trump's broader policy shifts, contributing to a weakening U.S. dollar.Ray Attrill of the National Australia Bank noted the resurgence of the 'Sell America' trend in the currency markets. Investors are factoring in the likelihood that the U.S.-EU tariff resolution won't reach the hefty 50% level, though...

Imagine you are planning the funeral music for a loved one who has died. You can’t remember their favourite song, so you try to login to their Spotify account. Then you realise the account login is inaccessible, and with it has gone their personal history of Spotify playlists, annual “wrapped” analytics, and liked songs curated to reflect their taste, memories, and identity. We tend to think about inheritance in physical terms: money, property, personal belongings. But the vast volume of digital stuff we accumulate in life and leave behind in...

This is CNBC's live blog covering Asia-Pacific markets. Asia-Pacific markets traded mixed Monday as investors assessed U.S. President Donald Trump's postponement of 50% tariffs on European Union imports. South Korea's Kospi index advanced 2.02% to close at 2,644.40, its highest level since Feb. 24, while the small-cap Kosdaq gained 1.3% to 725.27. In Japan, benchmark Nikkei 225 ended the day 1% higher at 37,531.53 while the broader Topix index added 0.6% to 2,751.91. Mainland China's CSI 300 index lost 0.57% to end the day at 3,860.11, while Hong Kong's Hang Seng Index fell 1.35% to 23,282.33. India's benchmark Nifty 50 moved up 0.53%...

Equities tumbled after President Trump threatened to impose aggressive tariffs on the European Union. The S&P dropped more than 1.5% before recovering to end the session 0.7% weaker. The rebound in US equities was supported by US Treasury Secretary Bessent saying the US could strike several large trade deals in coming weeks. Treasuries retraced an earlier rally while the US dollar remained under pressure. Gold prices traded above US$3360 per troy ounce, a gain of 2%. There has been slow progress in trade talks between the US and the EU,...

Kathmandu , May 25 (ANI): Nepal's Central Investigation Bureau (CIB), under the Nepal Police, on Saturday arrested fake Indian currency kingpin Yunus Ansari for investigation into a money laundering case.AdvertisementAnsari was arrested on Saturday as he was released from the Nakkhu Prison, where he completed a six-year prison term in a counterfeit Indian currency case. Immediately after release, Ansari, who is also claimed to have a connection with Dawood Ibrahim, was arrested by the CIB."We arrested Yunus Ansari last evening upon his release from Nakkhu Prison for an investigation into...

A lecturer at the University of Ghana Business School, Professor Godfred Bokpin has explained why the cedi is appreciating in value against major foreign currencies, especially the dollar. He was contributing to discussions on TV3’s current affairs show, The KeyPoints on May 24. The topic for discussion was, ‘What accounts for the appreciation of the value of the cedi?’ As of May 24, the exchange rate was GHC11 to $1. A drop from GHC15 to $1 at the beginning of the year. Prof Bokpin said the current trend in the...

A lecturer at the University of Ghana Business School, Professor Godfred Bokpin has attributed the current appreciation in the value cedi against major foreign currencies to reduction in expenditure by the government. He said unlike the New Patriotic Party (NPP) administration which engaged in excessive spending, the National Democratic Congress government has cut down expenditure in five months by GHC10 billion compared to 2024. “If you look at what the economy has been through in the last 3 years, the excess injection of liquidity into the economy through high expenditure....

The Kenyan shilling exchanged at KSh 129.23 per US dollar on Thursday, May 22, compared to KSh 129.25 per US dollar on Thursday, May 15The shilling's strength was boosted by the increase in foreign exchange reserves, which rose from KSh 1.31 trillion on May 15 to KSh 1.33 trillion on May 22Against the Tanzanian shilling (TSh), the local currency slightly appreciated, strengthening from TSh 20.78 on May 16 to TSh 20.86 on May 22Japhet Ruto, a journalist at TUKO.co.ke, brings more than eight years of experience in finance, business, and...

New Delhi , May 24 (ANI): Asian currencies are likely to appreciate against the US dollar in the long term, according to a recent report by Jefferies.AdvertisementThe report highlighted that the gross national savings in emerging Asian countries are significantly higher than those in developed G7 nations, giving Asian economies a strong foundation for currency strength.It said, "The most likely currency bloc to enjoy long-term appreciation against the US dollar remains Asian currencies in what amounts to a reversal of the dynamic triggered by the Asian Crisis nearly 30 years...