Currencies

NEW YORK/SINGAPORE, May 29 (Reuters) - Wall Street displayed resilience on Thursday, maintaining its gains amidst fresh tariff turmoil. A federal appeals court reinstated President Donald Trump's tariffs, a day after a trade court blocked most of them from going into effect, yet the S&P 500 held firm.The dollar on the other hand weakened against safe-haven currencies like the yen and Swiss franc, as investors tussled with the uncertainty and volatility the tariffs have reintroduced. Markets seem poised to navigate this unclear terrain, characterized by the back-and-forth nature of...

India is likely to float a discussion paper next month outlining policy framework options for crypto assets amid growing acceptance for them, thanks in large part to US President Donald Trump embracing digital currencies, people familiar with the matter said. The discussion paper is likely to draw from the synthesis paper prepared by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) while seeking opinions on practices being adopted by various jurisdictions. “The discussion paper on crypto assets is being given finishing touches,” said one of the persons...

Mumbai: The number of fake Indian currency notes detected in the banking system fell for the third consecutive year, reflecting improved security features and greater vigilance. According to RBI’s annual report for 2024-25, counterfeit notes identified dropped to 2,17,396 in FY25, down from 2,22,639 in FY24 and 2,25,769 in FY23.The decline was mainly seen in denominations of Rs 10, Rs 20, Rs 50, Rs 100, and Rs 2,000, although counterfeit Rs 200 and Rs 500 notes increased. RBI credited this trend to the modernisation of currency management and enhanced security...

The African Development Bank (AfDB) has predicted that the naira and several other African currencies will depreciate in 2025 and 2026AfDB projected that the naira will lose six per cent of its value during the projected period, citing global economic shocksThe AfDB reports came as the naira depreciated against the US dollar in the official market on Wednesday, May 28, 2025Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.The second half of the year will be challenging for the Nigerian currency, the...

The expenditure incurred on security printing during 2024-25 increased by nearly 25 per cent to ₹6,372.8 crore as against ₹5,101.4 crore in the previous year mainly due to increase in indent for printing of banknotes, according to the RBI's annual report released on Thursday. The value and volume of banknotes in circulation increased by 6 per cent and 5.6 per cent, respectively, during 2024-25. "During 2024-25, the share of ₹500 banknotes at 86 per cent, declined marginally in value terms," said the RBI's Annual Report for 2024-25. In volume terms,...

  Rupee weakened by 10 paise to close at 85.48 (provisional) against the US dollar on Thursday, pressured by a strengthening dollar overseas and a rise in global crude oil prices. Forex traders noted that gains in the domestic equity markets and foreign capital inflows helped limit the local currency's fall. At the interbank foreign exchange market, the rupee opened at 85.56 and traded between an intra-day low of 85.62 and a high of 85.40 before settling at 85.48, marking a 10 paise decline from Wednesday’s close of 85.38. Anuj...

What will Trump do next? Here are three scenariospublished at 10:21 British Summer Time10:21 BSTImage source, ReutersHope for a favourable ruling from a higher courtTrump looks set to appeal the ruling through the courts, a route which will see the government first take the case to the US Court of Appeals for the Federal Circuit in Washington, DC. It could ultimately go to the US Supreme Court, which is already considering other cases about the scope of presidential power.Shift the legal basis for reciprocal tariffsThe tariffs court ruling said Trump...

Mumbai, May 29 (PTI) The expenditure incurred on security printing during 2024-25 increased by nearly 25 per cent to Rs 6,372.8 crore as against Rs 5,101.4 crore in the previous year mainly due to increase in indent for printing of banknotes, according to the RBI’s annual report released on Thursday. The value and volume of banknotes in circulation increased by 6 per cent and 5.6 per cent, respectively, during 2024-25. “During 2024-25, the share of Rs 500 banknotes at 86 per cent, declined marginally in value terms,” said the RBI’s...

Here is what you need to know on Thursday, May 29:Markets turn risk-positive in the second half of the week as fears over an economic downturn in the United States (US) ease following a federal court's decision to block US President Donald Trump's 'Liberation Day' tariffs. The US Bureau of Economic Analysis will release its second estimate of the Gross Domestic Product (GDP) growth for the first quarter on Thursday. The US economic calendar will also feature weekly Initial Jobless Claims and April Pending Home Sales data. US Dollar PRICE...

Nigeria’s naira and the Ghanaian cedi are among the African currencies that are expected to witness a decline this year driven by a potential fall in export earnings, African Development Bank (AfDB) said in its 2025 economic outlook. The Abidjan-based lender revealed that 21 of the 54 African nations are likely to see their currencies fall in 2025 while 25 could see some gains as the global uncertainty leaves the financial markets volatile. “Several countries—Egypt, Ethiopia, Ghana, Libya, Nigeria, Rwanda, Zambia, and Zimbabwe—are expected to experience currency depreciations of 6...