Currencies

Tether’s Q1 attestation report reveals the stablecoin giant has shored up over 7.7 tons of physical Gold to back its issuance of XAU₮. Treasuries’ info shows that at the end of Q1, Tether held 100,521 Bitcoin tokens. Tether co-founder notes that USD-backed stablecoins currently dominate, other currencies could soon compete in the sector. Tether, a stablecoin giant and the seventh-largest holder of US Treasury bills, published its attestation report for the first quarter on Monday. The stablecoin firm noted the US Dollar’s (USD) dominance in the stablecoin sector and dropped the statistics on...

Rupee appreciated by 27 paise to 84.96 against the US dollar in early trade on Tuesday, buoyed by strong foreign fund inflows, healthier domestic economic data, and easing global tensions. Forex traders observed that India's manufacturing and industrial sectors both grew by 3 per cent, highlighting the strength of domestic demand. Additionally, a significant rally in domestic equities, fueled by an influx of foreign investments, helped boost market sentiment. Despite this positive movement, caution prevails, with traders pointing out that any rise in tensions between India and Pakistan could quickly...

Gold prices fell in India on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 9,078.38 Indian Rupees (INR) per gram, down compared with the INR 9,162.60 it cost on Monday. The price for Gold decreased to INR 105,888.50 per tola from INR 106,870.80 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,078.38 10 Grams 90,806.52 Tola 105,888.50 Troy Ounce 282,373.60   Daily Digest Market Movers: Gold price is pressured by receding safe-haven demand and a modest USD uptick China's recent...

Some Chinese exporters are speeding up the conversion of their US dollar income into yuan on bets the worst of the tariff-led loss in the local currency may be over.In a Bloomberg survey of 18 Chinese exporters this month, all of them said they’d already converted, or will immediately switch, their greenback holdings into the yuan, as they see the current yuan exchange rate of around 7.3 per US dollar as favourable. The companies in sectors ranging from furniture, ceramics, decorative lighting, and gardening to garments were interviewed at the Canton...

Other countries such as Vietnam and Thailand that rely on exports have been hit with some of the highest US tariffsPublished Tue, Apr 29, 2025 · 11:05 AM Asian countries should diversify their trading partners and boost domestic demand to ensure they can ride out the current global trade war, the head of the Asian Development Bank (ADB) said.The export-driven economies of countries in the region are stronger than in the past, but there is no room for complacency as the US persists with its strategy of high tariffs on...

Indian Rupee strengthens in Tuesday’s Asian session.Optimism over US-India trade talks and steady foreign portfolio investment inflows into equities support the INR. Investors await the US April Consumer Confidence and March JOLTS Job Openings report, which are due later on Tuesday. The Indian Rupee (INR) extends its upside on Tuesday after logging its best day in more than two weeks in the previous session. The positive developments surrounding US-India trade talks provide some support to the local currency. US Treasury Secretary Scott Bessent said on Monday that many top trading partners of...

BENGALURU: Emerging Asian equity markets opened the week higher on Monday, led by Taiwan tracking Wall Street gains, while Indonesian shares rose on strength in banking stocks. Most stock markets in the region were upbeat as an easing of trade tensions between the United States and China helped stir an appetite for risk among investors. Shares in Malaysia, Thailand and India added 0.7%, 0.1% and 1.3% respectively. “After a period of correction, ASEAN equities are showing upward momentum, having broken out of a technical downtrend that began from the 2017...

Growing popular worldwide, stablecoins are typically pegged to traditional currencies, which makes them less vulnerable to price volatility like other digital tokens, such as BitcoinPublished Tue, Apr 29, 2025 · 06:38 AM Three major Abu Dhabi entities, including a sovereign wealth fund, plan to launch a stablecoin fully regulated by the central bank of the United Arab Emirates and backed by the dirham, a move that could speed the Persian Gulf nation’s efforts to adopt digital currencies and facilitate payments. The sovereign wealth fund, ADQ along with the UAE’s largest...

Ohio’s treasurer and secretary of state want state agencies to start taking Bitcoin and other cryptocurrencies for certain fees and services, such as the one to form a business, they said.At the same time, though, Republican Treasurer Robert Sprague said he is not sold on a bill suggesting he invest taxpayer dollars in digital currencies, colloquially known as cryptocurrencies or just crypto.“We don’t want to be on the bleeding edge of things, but we want to be on the leading edge of things,” Sprague said Thursday at a news conference.Introduced...

Five persons were arrested for allegedly printing and circulating fake Indian currency notes and seized fake nots of 200 and 500 denominations valued at Rs 28.66 lakh from their possession, Pune Police said on Monday. Police have identified the accused as Manisha Swapnil Thanekar (42) of Yerwada, Bharati Tanaji Gavand (40) of Keshav Nagar, Sachin Ramchandra Yemgar (35) of Gahunje, Naresh Bhimappa Shetty (35) of Lohegaon and Prabhu Gugaljeddy (34) of Vishrantwadi. An FIR in the matter was registered at the Shivajinagar police station on April 17 based on a...