Currencies

RBI Governor Sanjay Malhotra announces 25 bps repo rate cut. (Express Photo by Amit Chakravarty)RBI Repo Rate Cut, RBI Monetary Policy Meeting 2025 Today Live Updates: RBI Governor Sanjay Malhotra announced a 25 basis point cut in policy repo rate on Wednesday, saying the central bank is targeting non-inflationary growth. The RBI Governor said global economy was going through a period of uncertainty, posing challenges to policymaking, alluding to the sweeping tariffs announced by US President Donald Trump. The latest round of reciprocal tariffs kicked in minutes before Malhotra started...

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Bundles of suspicious Rs 500 notes discovered in a rented house in Karnataka’s Uttara Kannada district sent the police into a tizzy. The hoard of notes was found during a raid.Prima facie, the notes appeared to be fake currency.The raid, carried out on a specific tip-off on Tuesday evening, led to the seizure of the notes and a money-counting machine from the premises at Gandhinagar in the district’s Dandeli town.However, the officials realised the notes lacked key features of legal tender, as there was no Reserve Bank of India seal,...

BENGALURU: Indonesia’s rupiah hit a record low and its equities sank on Tuesday, as traders returned after an extended break to price in the impact of sweeping US tariffs that threatened to upend global trade and stoked recession fears. Jakarta stocks were last down 7.6%, on course for their biggest one-day percentage fall since September 2011. The benchmark index had dropped more than 9% in early trading, triggering a 30-minute halt. The rupiah fell 1.8% to an all-time low of 16,860 against the US dollar. An official at Bank Indonesia...

Asia’s trade-sensitive currencies swung around multiyear lows as the region reels from US President Donald Trump’s tariff policies that risk pushing the global economy into recession. The Bloomberg Asia Dollar Index hovered near a record low in data going back to 2006. The Korean won declined to its lowest level since the global financial crisis, while the Australian and New Zealand dollars fell to levels not seen since March 2020 before recovering. The Indonesian rupiah sat near the weakest on record, while the offshore Chinese yuan rebounded from a record...

Asia’s trade-sensitive currencies swung around multiyear lows as the region reels from US President Donald Trump’s tariff policies that risk pushing the global economy into recession. The Bloomberg Asia Dollar Index hovered near a record low in data going back to 2006. The Korean won declined to its lowest level since the global financial crisis, while the Australian and New Zealand dollars fell to levels not seen since March 2020 before recovering. The Indonesian rupiah sat near the weakest on record, while the offshore Chinese yuan rebounded from a record...

Equities and oil plunged again on Wednesday after Donald Trump ramped up his trade war by hitting China with tariffs of more than 100 per cent as sweeping measures against the United States’ dozens of partners are set to come into effect.After a brief respite Tuesday from the panic-selling at the start of the week, investors were once again scurrying for the hills amid fears that the US president’s hammer blow to global commerce will plunge the economy into a recession.The two economic superpowers were headed for a vicious standoff...

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The dominance of the US dollar could be under threat due to the market chaos sparked by Donald Trump's tariff blitz on trading partners, policy experts have warned.Despite the US president's high hopes for what he has dubbed "Liberation Day," a trio of senior researchers writing for Foreign Affairs, a magazine specialising in international relations and US foreign policy, have claimed that instead he has risked the value of the currency itself.The authors wrote that the president's "clumsy, erratic attempts to weaponize Washington's economic advantages pose the greatest threat so...

Once thriving, kiosks exchanging damaged currency now dwindle, as digital payments reduce cash use Published Date - 8 April 2025, 08:08 PM Cut note exchange vendors. Photos: Anand Dharmana Hyderabad: The soiled currency notes business is on its last legs. The shops where the soiled currency notes were exchanged for new ones are now dwindling. Once active in markets of the city, a majority of the traders have now shut down the business due to low returns. “People are...