Currencies

China's Renmimbi has become world's second most used currency in trade finance Monday, November 2nd 2015 - 09:18 UTC Markets expect RMB’s market share in trade settlement and payments to continue to grow anticipating China will further open up its financial markets. China has entered into more than 30 bilateral currency swap agreements since December 2008. As of May 15, 2015, the total value of effective currency swap agreements was RMB 2.9 trillion (US$ 468 billion). Argentina's central bank reportedly drew upon...

Asian currencies strengthened against the dollar, with the Taiwanese dollar leading the charge. Taiwan's stock benchmark Taiex fell. Australia stocks fell following Prime Minister Anthony Albanese's reelection. India's benchmark Nifty 50 and broader BSE Sensex rose. Japanese, South Korean, Hong Kong and Chinese markets were closed for public holidays. Asia-Pacific currencies appreciated Monday, led by the Taiwanese dollar, as the U.S. dollar weakened. Taiwan's currency continued to strengthen, appreciating 5.77% against the greenback to 3-year highs of 28.93. The offshore Chinese yuan strengthened 0.21% against the dollar to 7.196, hitting its strongest...

HONG KONG :Hong Kong's de-facto central bank said it sold HK$46.54 billion ($6 billion) into the market on Saturday to prevent the local currency from strengthening beyond its official peg to the U.S. dollar, the first such intervention in more than four years. The Hong Kong dollar is pegged to a tight band between 7.75 and 7.85 per U.S. dollar.The Hong Kong Monetary Authority intervened as the Hong Kong dollar touched the strong side of that currency convertibility range. The last time it sold Hong Kong dollars to defend the...

Gold Ounce to United States Dollar XAU USD 1 XAU 3,241.35971 USD 5 XAU 16,206.79855 USD 10 XAU 32,413.5971 USD 25 XAU 81,033.99275 USD 50 XAU 162,067.9855 USD 100 XAU 324,135.971 USD 500 XAU 1,620,679.855 USD 1,000 XAU 3,241,359.71 USD 5,000 XAU 16,206,798.550000001 USD 10,000 XAU 32,413,597.100000001 USD 50,000 XAU 162,067,985.5 USD United States Dollar to Gold Ounce USD XAU 1 USD 0.000308513 XAU 5 USD 0.001542563 XAU 10 USD 0.003085125 XAU 25 USD 0.007712813 XAU 50 USD 0.015425625 XAU 100 USD 0.03085125 XAU 500 USD 0.154256252 XAU 1,000 USD...

The Middle East is home to many fascinating countries that attract tourists in their millions. Last year, a whopping 95 million visitors descended on the region, seeking new horizons and experiences.Saudi Arabia was the most popular Middle Eastern destination in 2024, followed by Egypt and the United Arab Emirates. One tiny country in the region is continuing to see a growth in visitor numbers, as it looks to expand its tourism sector. Kuwait is situated in the northern edge of the Arabian Peninsula at the head of the Persian Gulf.The country...

More on: Asia Program Asia Tariffs On U.S. President Donald Trump’s much-touted April 2nd “Liberation Day,” he unveiled a range of potentially debilitating reciprocal tariffs on the United States’ major trading partners—and most other countries as well. Surprisingly, some of the countries hit with the highest tariffs were U.S. partners in Asia and the Pacific, like Vietnam, South Korea, and Japan. Trump even imposed tariffs on Australia, a critical security ally, despite the fact that the United States has a trade surplus with Australia. Trump paused, for 90 days, many...

Mumbai: India's foreign exchange reserves rose for the eighth straight week to touch $688.13 billion as of April 25, according to the latest RBI data released on Friday. The foreign exchange kitty surged by $1.98 billion during the week. The foreign currency component of the reserves increased by $2.17 billion to $580.66 billion. The gold reserves component of the forex reserves decreased by $207 million to $84.37 billion while Special Drawing Rights (SDR) went up by $21 million to $18.59 billion. The declining trend in forex reserves of earlier months...

The New Taiwan dollar and Taiwanese stocks surged on signs that trade tensions between the world’s top two economies might start easing and as US tech earnings boosted the outlook of the nation’s semiconductor exports.The NT dollar strengthened as much as 3.8 percent versus the US dollar to 30.815, the biggest intraday gain since January 2011, closing at NT$31.064. The benchmark TAIEX jumped 2.73 percent to outperform the region’s equity gauges.Outlook for global trade improved after China said it is assessing possible trade talks with the US, providing a boost...

India's forex reserves increased $1.983 billion to $688.129 billion during the week ended April 25, the RBI said on Friday.This is the eighth consecutive week of a rise in the kitty, which had jumped $8.31 billion to $686.145 in the previous reporting week. The forex reserves had touched an all-time high of $704.885 billion in end-September 2024. For the week ended April 25, foreign currency assets, a major component of the reserves, increased $2.168 billion to $580.663 billion, the data released on Friday showed.Expressed in dollar terms, the foreign currency...

In fact, even without the damage inflicted recently by Mr. Trump’s policies, it’s possible that the dollar would be declining anyway, if only because it had reached historically elevated levels. Consider this performance:In 2024, the dollar rose more than 7 percent, measured by the Dollar Index, and 9 percent, using the Nominal Broad U.S. Dollar Index.Taking inflation into account by using the Fed’s Real Broad Trade-Weighted Index, the dollar rose almost 23 percent over the 20 years through March.Late last year, using this broad, inflation-adjusted index, the dollar was stronger...