Currencies

The U.S. dollar faced struggles on Tuesday, marked by impatient investors awaiting progress on expected U.S. trade deals. Asian currencies took a breather after an unprecedented two-day rise, emphasizing the dollar's fragility. The yen saw the dollar drop 0.57% to 142.87, while the British pound gained 0.56% to $1.3371.Jane Foley, head of FX strategy at Rabobank, noted a decline in last week's optimism linked to potential trade deals. Market participants are growing concerned about company warnings regarding economic damage from tariffs. Recent investor optimism about potential U.S. deals slashing...

Tanzanian government banned the use of foreign currencies, including Kenya shilling, to salvage its ailing local currencyThe move meant that all transactions pertaining Kenya shillings or the US dollar are not accepted in the countryAccording to the Central Bank of Kenya, the Kenya shilling exchanged at KSh 20.77 per Tanzanian shilling as of Tuesday, May 6Speaking exclusively to TUKO.co.ke, market analyst Rufas Kamau explained what makes Kenya shilling bullish against other regional and international currenciesWycliffe Musalia has over six years of experience in financial, business, technology, climate, and health reporting,...

A powerful wave of dollar selling across Asia has shaken global currency markets, led by Taiwan’s explosive 10% rally in just two days. The movement is now reverberating through South Korea, Singapore, China, Malaysia, and Hong Kong—suggesting a broad shift in investor sentiment. Analysts are calling the trend an “Asian crisis in reverse.” In contrast to the capital flight seen during the 1997–98 financial crisis, capital is now flowing back into Asia—marking a stark reversal in global money flows. Trump Tariffs Erode Faith Experts blame U.S. President Donald Trump ’s...

(Photo: Reuters) SINGAPORE - A wave of dollar selling in Asia is an ominous sign for the greenback as the world’s export powerhouse starts to question a decades-long trend of investing its big trade surpluses in US assets.Ripples from a record rally in the Taiwan dollar on Friday and Monday are now spreading outward, driving surges for currencies in Singapore, South Korea, Malaysia, China and Hong Kong. The Thai baht has also been on the rise, trading around 32.62 to the dollar on Tuesday, compared with 34.88 baht a month...

Hong Kong authorities ramped up sales of the local dollar as the greenback’s slide threatened the foreign-exchange peg.The Hong Kong Monetary Authority (HKMA) sold a record HK$60.5 billion (S$10.1 billion) of the city’s currency, according to an alert sent on its Bloomberg page on Tuesday (May 6) in Asia, after it tested the upper end of its trading band. That added to the HK$56.1 billion of sales versus the greenback since Friday. The rapid intervention signals efforts from the city’s authorities to limit the currency’s moves within its 7.75-to-7.85 per US...

According to the report, India’s total foreign exchange reserves stood at USD 688.13 billion as on April 25, 2025, reflecting a stable and healthy external sector position. The reserves almost rose by $11.83 billion in a month. As of April 4, 2025, India’s foreign exchange reserves stood at $676.3 billion, per the PIB press release.India’s reserves are diversified across the following assets:1. Foreign Currency Assets (FCAs): The largest component, these assets provide liquidity and comprise the major G-10 currencies. It is the first in line in terms of protecting against...

Ripple to Iraqi Dinar XRP IQD 1 XRP 2,807.460444 IQD 5 XRP 14,037.30222 IQD 10 XRP 28,074.60444 IQD 25 XRP 70,186.5111 IQD 50 XRP 140,373.0222 IQD 100 XRP 280,746.0444 IQD 500 XRP 1,403,730.222 IQD 1,000 XRP 2,807,460.444 IQD 5,000 XRP 14,037,302.219999999 IQD 10,000 XRP 28,074,604.439999998 IQD 50,000 XRP 140,373,022.199999988 IQD Iraqi Dinar to Ripple IQD XRP 1 IQD 0.000356194 XRP 5 IQD 0.001780969 XRP 10 IQD 0.003561938 XRP 25 IQD 0.008904845 XRP 50 IQD 0.01780969 XRP 100 IQD 0.03561938 XRP 500 IQD 0.178096899 XRP 1,000 IQD 0.356193799 XRP 5,000 IQD...

(Bloomberg) -- A recent surge in Asian currencies is shifting the outlook for the region’s equities, with money managers and strategists favoring stocks tied to local consumption and expecting a return of global funds. Most Read from Bloomberg Morgan Stanley strategists said they like markets including India and the Philippines, where stocks tend to be more geared toward domestic demand. They favor sectors such as real estate and financials. Aberdeen Investments prefers defensive plays like consumer and healthcare stocks, while Societe Generale SA sees India as a major beneficiary from...

BAKU, Azerbaijan, May 6.​ The Central Bank of Azerbaijan (CBA) has released the official exchange rates as of May 6, Trend reports. According to the CBA, the official exchange rate for the US dollar remains unchanged at 1.7 manat. The euro's exchange rate is 1.9252 manat, while the Turkish lira is worth 0.044 manat. Additionally, 100 Russian rubles are equivalent to 2.1118 manat. Currencies Code Exchange rate 1 US dollar USD 1.7 1 euro EUR 1.9252 1 Australian dollar AUD 1.0996 1 Belarusian ruble BYN 0.5543 1 Bulgarian Lev BGN...

Global stocks remained in a narrow band on Tuesday, with the dollar regaining some lost ground against Asian currencies. Investor concerns have resurfaced over U.S. tariffs' implications on economic growth, coupled with oil producers' commitments to boost supply, keeping crude prices near historic lows. The erratic trade policies of President Donald Trump have sparked major waves of dollar selling since April. This trend has lifted the euro, yen, and Swiss franc, with the Taiwan dollar reaching record levels, prompting speculation over potential regional foreign exchange revaluation to secure U.S....