Currencies

United States Treasury Secretary Scott Bessent recently called for “Bretton Woods institutions,” such as the International Monetary Fund (IMF), to reorient themselves, a signal that the global monetary order could be shifting.Speaking at the Institute of International Finance (IIF) on April 23, Bessent called on the IMF and the World Bank to correct trade imbalances and protect the value of fiat currencies against exchange rate risk."The Bretton Woods institutions must step back from their sprawling and unfocused agendas," Bessent said. He added:"The IMF's mission is to promote international monetary cooperation,...

In 2007, the Reserve Bank of India, in collaboration with designers from the National Institute of Design (NID), launched a new series of coins with a focus on accessibility, clarity, and cultural representation. Rather than using typical designs, the team chose to feature three specific asamyukta hasta mudras (single-hand gestures) from Bharatnatyam to represent different coin denominations.This wasn’t just about making the coins visually unique. It was a thoughtful decision to make the currency more inclusive, especially for the visually impaired and those unfamiliar with English or numeric systems. Most...

Some African currencies have emerged stronger than the Nigerian currency, the naira, in a new ranking for April 2025Data shows that 10 African countries have some of the strongest currencies against the US dollarThe development follows the crash of the naira to a new low on Tuesday, April 22, 2025, in the foreign exchange marketLegit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.As of April 2025, several African currencies have rebounded against the US dollar, showing various degrees of appreciation and resilience,...

KUALA LUMPUR, April 23 — The ringgit ended marginally lower against the US dollar on Wednesday as the greenback strengthened on the back of renewed optimism surrounding US-China trade talks, said an economist.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said this happened following comments from President Donald Trump signalling a possible reduction in tariffs if China is open to negotiation.At 6pm, the local currency eased to 4.3880/3925 against the greenback, compared with Tuesday’s close of 4.3835/3905.He added that while the gesture was positively received by financial...

Ali Faizan Rizvi | Chief Commercial Officer | Mint Gateway. getty The financial landscape is undergoing a significant transformation, with digital payments, cryptocurrencies and central bank digital currencies (CBDCs) gaining prominence. The rapid evolution of financial technologies and shifting consumer behaviors are driving discussions on whether these innovations will completely replace traditional fiat currencies or coexist in a hybrid system. This article is intended to help business leaders evaluate these evolving payment technologies through the lens of customer experience, operational efficiency and digital readiness, not as investment advice. Let's explore...

BENGALURU: Currencies in emerging Asia were subdued on Tuesday, weighed down by President Donald Trump’s renewed criticism of the US Federal Reserve, while Singapore equities extended their winning streak into a sixth straight session. An MSCI index of Asian emerging market equities snapped a three-day streak of gains, dragged lower by stocks in Taiwan, which lost as much as 1.5% at one point to hit a near two-week low. The Singapore dollar and Thai baht drifted around their mid-October highs, while Indonesia’s rupiah crept lower to 16,855 per US dollar,...

Top meme coins Dogecoin (DOGE), Shiba Inu (SHIB), PEPE and BONK lead the meme coin sector with double-digit gains on Wednesday following the crypto market recovery. After smashing key resistance levels near their respective 50-day Simple Moving Averages (SMA), these meme coins now face a key hurdle close to the 100-day SMA. Fartcoin price holds firmly above support established at $1.00 while exchanging hands at $1.16, up more than 2% on the day. The meme coin’s uptrend follows a sustained rebound from the Q1 downtrend, buoyed by support at $0.20,...

Most Asian currencies strengthened on Wednesday after U.S. President Donald Trump softened his stance on the Federal Reserve and signaled openness to easing trade tariffs on China. Meanwhile, the Japanese yen weakened following disappointing factory activity data. The U.S. Dollar Index gained 0.3%, rebounding from a three-year low hit earlier this week. This came after Trump stated he had “no intention” of removing Fed Chair Jerome Powell, dialing back earlier criticism that had fueled concerns over the central bank’s independence. Markets also found relief in Trump’s comments on U.S.-China trade...

Gold prices fell in India on Wednesday, according to data compiled by FXStreet. The price for Gold stood at 9,163.75 Indian Rupees (INR) per gram, down compared with the INR 9,272.21 it cost on Tuesday. The price for Gold decreased to INR 106,883.00 per tola from INR 108,148.30 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,163.75 10 Grams 91,636.47 Tola 106,883.00 Troy Ounce 285,027.20   Daily Digest Market Movers: Gold price bulls remain on the defensive amid hopes for a US-China trade deal US...

The dollar advanced against its major peers after US President Donald Trump said he had no intention of firing Federal Reserve Chairman Jerome Powell.The greenback climbed the most against the yen and Swiss franc as a rise in US stock futures damped demand for haven assets. The dollar climbed as much as 1% versus both currencies to around 143.00 yen and 82.69 centimes, respectively. Some technical indicators and market positioning had suggested an overshooting of bearish dollar bets. The US currency fell to the lowest since December 2023 this week...