Currencies

Representative image | Photo Credit: Reuters The Supreme Court on Monday (March 5, 2025) said trading in Bitcoin in India is like "dealing with a refined way of Hawala business" as it lamented that the Centre has till now not come out with a clear regime on regulating virtual currency. A bench of Justices Surya Kant and N. Kotiswar Singh made the remarks while dealing with a bail application of Shailesh Babulal Bhatt who was arrested by the police for alleged illegal Bitcoin trade. The bench said that two years...

By Rae Wee and Samuel Shen SINGAPORE/SHANGHAI (Reuters) -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 U.S. assets. Ripples from Friday and Monday's record rally in the Taiwan dollar are now spreading outward, driving surges for currencies in Singapore, South Korea, Malaysia, China and Hong Kong. The moves sound a warning for the dollar because they suggest money is moving in to Asia at scale and...

NEW YORK – The US dollar got a fresh jolt to start the week as speculation around potential trade deals sparked an extraordinary spike in Taiwan’s currency and reverberated across global foreign exchange markets. Already under pressure as President Donald Trump’s economic agenda dents attitudes around American assets, the greenback weakened further on May 5 against most major currencies, with a Bloomberg gauge of the dollar falling about 0.2 per cent as of 1.20pm in New York. Taiwan’s dollar led gains among the 16 major peers tracked by Bloomberg, earlier jumping...

The recent rally in currencies of trade-dependent Asian economies is fuelling concerns among central bank policymakersPublished Tue, May 6, 2025 · 07:06 AM Hong Kong authorities said they continued to purchase US dollars in an attempt to defend the foreign exchange peg. The Hong Kong Monetary Authority spent a record HK$60.5b on the US currency, according to an alert sent on its Bloomberg page on Tuesday (May 6) in Asia, after the city’s currency tested the upper end of its trading band. The purchase adds to the HK$56.1 billion it...

The US dollar got a fresh jolt to start the week as speculation around potential trade deals sparked an extraordinary spike in Taiwan’s currency and reverberated across global foreign exchange markets.Already under pressure as US President Donald Trump’s economic agenda dents attitudes around American assets, the greenback weakened further on Monday (May 5) against most major currencies. A Bloomberg gauge of the US dollar wrapped up the session in New York about 0.2 per cent lower after paring earlier declines. Taiwan’s dollar led gains among the 16 major peers tracked by...

BENGALURU: The Taiwan dollar was poised for its biggest single-day gain since the 1980s on Monday, as the convergence of strong economic data and cooling global trade tensions ushered investors into the island’s currency. Taiwan’s currency appreciated as high as 29.59 per US dollar, its highest level in nearly three years. It was last trading at 30.04. Typically a quiet player in emerging Asian currency markets, the Taiwan dollar’s historic rally underscores a broader re-rating of the region’s economic prospects, with its role in the global semiconductor and AI supply...

More than a decade ago, walking along the busy main road of Goma in the Eastern Democratic Republic of the Congo, you could find a lot of things for sale: clothes, hats, groceries. And dollars. Huge stacks of dollars carried by young men, known as money changers. Some dollars were so soiled they were black and limp like cloth, they’d been in circulation for so long. Others were newer.“Everyone prefers U.S. dollars over Congolese francs,” one money changer told me. “It’s more stable. A lot of people here are import-exporters,...

The US Dollar Index edges to 99.60 as the Taiwan Dollar posts the biggest intraday jump in over 30 years.ISM Services PMI climbs to 51.6 in April, beating estimates and March’s 50.8 reading.Treasury Secretary Bessent says trade deals may be reached this week; deficit reduction targeted.Market activity remains thin with holidays in China and the United Kingdom.The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, posted mild gains on Monday as the Taiwan Dollar surged over 5%. The move sparked a...

The Indian rupee strengthened on Monday, tracking a rise in the offshore Chinese yuan and comforted by falling crude oil prices, even as dollar demand from importers and a large foreign bank ate into some of the currency’s intraday gains. The Indian rupee closed at 84.25 against the U.S. dollar, up 0.4% on the day. The currency had touched a peak of 84.1275 in early trading but trimmed gains in the latter half of the session. The dollar index was down 0.2% at 99.6 while the offshore Chinese yuan touched...

This is CNBC's live blog covering Asia-Pacific markets. Asia-Pacific markets traded mixed as investors assessed trade developments between the U.S. and countries in the region, with focus also on Asian currencies that reversed course to weaken Tuesday as the dollar appreciated. India has reportedly proposed zero tariffs on steel, auto components and pharmaceuticals on a reciprocal basis and up to a certain amount of imports, while Malaysia said Monday that Washington had agreed for further talks and there could be a cut in tariffs. Treasury Secretary Scott Bessent told CNBC...