Currencies

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...

RECENT headlines have been rife with speculation about the demise of the US dollar, fuelled by its 10 per cent decline since the start of 2025 and the US’ shifting stance on global trade, marked by increased tariffs. Some voices are even suggesting that US exceptionalism is over and that the greenback will soon be replaced, with global investors dumping US assets. However, this, in our opinion, is simply fearmongering.Rise of Asian currencies: A temporary phenomenonOne of the major factors fuelling this theory is the sharp appreciation of several Asian...

Binance co-founder Changpeng Zhao denied claims of acting as a facilitator for World Liberty Financial in Pakistan.WLFI co-founder Zak Folkman stated that the company's discussions with Pakistan government officials never revolved around foreign policies.The allegations stem from a Wall Street Journal article claiming that CZ facilitated conversations between WLFI and members of the Pakistani government.World Liberty Financial (WLFI) on Friday refuted claims by the Wall Street Journal (WSJ) that it leveraged Binance founder Changpeng Zhao (CZ) to facilitate discussions during a business trip to Pakistan. The crypto project also denied...

The Money Metals quarterly bar chart race on the evolution of global international reserves is out. Recently, gold overtook the euro, and soon will be challenging the dollar! In the video by world-renowned gold analyst at Money Metals, Jan Nieuwenhuijs, we explore world reserve currencies from 1950 to 2024.  Such currencies in this comprehensive analysis include gold, the US dollar, British sterling, the Deutsche mark, the French franc, the euro, the Chinese renminbi, the Japanese yen, and “other FX” (e.g., the Swiss franc). https://www.youtube.com/watch?v=mWSaEf-DTJc The race is off… and in...

Wall Street pundits and investors are schizophrenic about US assets. The dollar weakened after Moody’s cut the United States’ credit rating, citing the increasing fiscal deficit, as well as the rising interest costs on government debt.On the other hand, the S&P 500 not only recovered after US President Donald Trump’s April tariff shock, but is now less than 5 per cent off its record high in February. Nevertheless, 30-year US Treasury yields recently exceeded 5 per cent per annum, indicating investors’ nervousness about US deficits and debt sustainability.While Financial Times...