Currencies

MUMBAI: The Indian rupee logged its steepest fall in two weeks, pressured by a recovery in the US dollar index and as traders unwound long positions on the local unit after it failed to climb above a key level. The rupee ended 0.3% down at 85.42, against 85.1875 at previous close. The Indian currency struggled to rise above 85 per dollar this week, which led “rupee bulls” to close their long-term positions on the rupee, two traders said. Some traders also cited the attack in India’s Jammu & Kashmir territory...

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldWe all knew Donald Trump believes the security burden borne by America is unfair and that other countries have been ripping it off for years on trade and defence. It has been more surprising to find the re-elected president’s close aides also saying that the pre-eminent global role played by the US dollar is not the “exorbitant privilege” it was termed by Valéry Giscard d’Estaing as France’s finance minister in...

FX Forward - Buy JPY Sell USD Purchased 15.72 475.5 Mil Derivative Franklin IFT Money Market 11.62 351.4 Mil Cash and Equivalents FX Forward - Buy USD Sell CNH Purchased 10.03 303.3 Mil Derivative FX Forward - Buy USD Sell CNH Purchased 9.29 280.9 Mil Derivative FX Forward - Buy KRW Sell USD Purchased 8.90 269.2 Mil Derivative FX Forward - Buy USD Sell JPY Purchased 7.96 240.6 Mil Derivative FX Forward - Buy USD Sell EUR Purchased 7.60 229.8 Mil Derivative FX Forward - Buy NZD Sell USD Purchased...

The flashy online announcement called it “the most EXCLUSIVE INVITATION in the World,” a chance to have “an intimate private dinner” with President Trump at his members-only golf club in Virginia, followed by a tour of the White House.A seat would be reserved for each of the top 220 investors in $TRUMP, a cryptocurrency that Mr. Trump launched on the eve of his inauguration.In an astonishing escalation of the Trump family’s efforts to profit from crypto, a website promoting $TRUMP, the president’s so-called memecoin, announced on Wednesday that the coin’s...

Mumbai: Most of the recent market focus has been on the rupee’s modest gains against the dollar. Yet, a closer inspection of currency trends reveals a broader bout of weakness: the Indian currency has slid against a basket of non-dollar counterparts, notably the euro and the pound, complicating the picture for policymakers and market participants.Abhishek Goenka, chief executive of IFA Global, highlighted the rupee’s decoupling from the greenback’s trajectory. “A weaker rupee against non-dollar currencies is positive for exporters, provided they are not overhedged,” he said, noting that euro and...

As suited traders stare at their screens on global foreign currency markets, migrant workers from Central Asia are paying just as much attention in cities across Russia.With the US dollar tanking in value amid global market turmoil since the Trump administration unveiled a massive tariffs package, the Russian ruble has risen sharply. This means migrants in Russia are suddenly sending home much more money.“People wait months before sending money, hoping that the exchange rate will rise. As soon as it does, they run to the bank or send money on...

The flashy online announcement called it “the most EXCLUSIVE INVITATION in the World,” a chance to have “an intimate private dinner” with President Trump at his members-only golf club in Virginia, followed by a tour of the White House.A seat would be reserved for each of the top 220 investors in $TRUMP, a cryptocurrency that Mr. Trump launched on the eve of his inauguration.In an astonishing escalation of the Trump family’s efforts to profit from crypto, a website promoting $TRUMP, the president’s so-called memecoin, announced on Wednesday that the coin’s...

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,...