Currencies

The CEO of fixed-income giant Pacific Investment Management Company (PIMCO) is expressing optimism on the future of the US and the dollar in the global financial system. PIMCO CEO Emmanuel Roman says in a new Bloomberg interview that he believes America will maintain its position as the world’s safe haven despite concerns about its eroding balance sheet and Trump’s trade war. According to Roman, the US owns the world’s reserve currency, and there’s no viable currency that could usurp the dollar. “And will remain as the place of safe haven…...

This month New Hampshire became the first state in the country to authorize its treasury to invest in cryptocurrency.The new law, which supporters are promoting as a “state bitcoin reserve,” is modest: It permits — but does not require — the state treasurer to invest up to 5% of state assets in bitcoin and gold. But it’s just one part of a broader push by State House Republicans to make New Hampshire an attractive place for cryptocurrency investors and developers to set up shop, mine currencies, and settle legal disputes.“I...

Currency notes aren't museum pieces – at least, not yet - in the digital era.Growth in currency in circulation is higher at 2.4% year to date up to May 2, compared with 1.7 percent in the same period a year ago, showed the latest Reserve Bank of India (RBI) data, reflecting rural demand supported by farmgate prices of agricultural commodities.Currency usage has remained relatively strong despite the absence of a busy election calendar during which cash usage typically climbs.Total currency in circulation is at Rs 38.1 lakh crore as of...

In a significant highlight for the crypto market, the U.S. Securities and Exchange Commission (SEC) reached a $50 million settlement with XRP on May 8th. The SEC will return $75 million of the previously escrowed funds to Ripple. Following this major milestone, XRP rallied with a remarkable 9.43% gain in the last 24 hours. On the other hand, Bitcoin's surge has also sparked a renewed anticipation for a prolonged bullish trend. was higher by nearly 2%, reaching $103,144.27 as of May 9.With the cosmic rise in value of the crypto...

External Affairs Minister S. Jaishankar with Minister of Foreign Affairs of Maldives Abdulla Khaleel during a meeting, in New Delhi, on January 3, 2025. | Photo Credit: PTI Even as the Maldives attempts to stabilise its economy amid challenges of high public debt and a widening fiscal deficit, India has rolled over a $50 million-treasury bill to support the neighbouring island nation. In a statement on Monday (May 12, 2025), the High Commission of India in capital Malé said following a request from the Government of Maldives, the State Bank...

Rupee pared most of its initial gains to end 3 paise higher at 85.33 (provisional) against the US dollar on Tuesday, supported by rising risk appetite amid easing trade tensions. However, gains were capped by the impact of rising crude oil prices, a strong US dollar, and profit booking in domestic equities, traders said. At the interbank foreign exchange market, the rupee opened at 84.70 and fluctuated between an intra-day high of 84.62 and a low of 85.48 against the greenback. It ultimately closed the session at 85.33 (provisional), marking...

Traders rewarded the US dollar with gains against major Asian currencies after trade tensions between Beijing and Washington thawed – but the greenback could soon be singing the blues again as analysts expect the relief rally to be short-lived.The US dollar index – which measures the greenback’s value against a basket of six major currencies: the euro, yen, pound, Canadian dollar, krona, and franc – jumped more than 1 per cent across Monday (May 12) afternoon before stabilising at around 101.6 as at early evening on Tuesday.The US shaved its...

The sharp depreciation of the US dollar over the past three months poses a growing challenge for Indian IT companies, particularly those with a high concentration of USD-denominated revenues. The USD has depreciated sharply over the past three months, approximately 4 per cent against the INR and even more significantly against the EUR (7.6 per cent) and GBP (9.9 per cent). This sharp INR appreciation can negatively impact profitability, especially for mid-tier firms with high offshore exposure and limited currency hedging. Per an analysis report by Kotak Institutional Equities, the...

The BIS revealed data from the second quarter of 2024 showing roughly $600 billion in cross-border cryptocurrency transactions. The BIS attributed many of these transactions to speculative investment, primarily pushed by Bitcoin and Ether. Stablecoins such as USDt and USDC also played a significant role in facilitating payments.The has pointed out that the influx of cryptocurrencies across borders is no longer strictly investment-motivated, but is practically driven by use cases, such as remittances and cross-border transactions within nations where inflation rates run high. The report continued to state that geographical barriers...

Rupee appreciated by 74 paise to 84.62 against the US dollar in early trade on Tuesday, buoyed by easing geopolitical tensions and optimism from the US-China tariff truce. Forex dealers attributed the rally to renewed foreign investor confidence in Indian assets, following positive developments on both regional and global fronts. “The easing of cross-border tension between India and Pakistan, along with the recent US-China trade deal, has improved market sentiment,” a dealer noted. On Saturday, India and Pakistan agreed to cease all hostilities across land, air and sea borders with...