Currencies

Bureau De Change (BDC) operators have revealed that despite the naira’s gains at the foreign exchange market during the week, the local currency is still suffering from a loss of confidence.The licensed currency traders said that although it is usually a good development to see the naira gaining strength against other foreign currencies, it however, noted that the local currency is overburdened by devaluation at the official market and depreciation at the open market.This was made known by the President of the Association of Bureau De Change Operators of Nigeria...

Fake Notes in Delhi's Sarojini Market? (Representative Image)Photo : iStockLocated in southwest Delhi, Sarojini market is a popular market for shopping clothes, home decor items and eating outlets. Recently, the Delhi Police received a tip-off that there had been a circulation of fake currency with the market’s premises. This prompted the officials to launch an investigation into the matter. Following which, two women were arrested with fake notes, the police said on Saturday. The police said they also seized 33 Fake Indian Currency Notes (FICN) of Rs 100 denomination from...

New Delhi, Mar 30 (PTI) Two women were arrested for allegedly circulating counterfeit currency in southwest Delhi’s Sarojini Nagar Market, the police said on Sunday. They also seized 33 Fake Indian Currency Notes (FICN) of Rs 100 denomination from the accused. Rani Jha (22) of Faridabad in Haryana and 29-year-old Akaansha Desai from Garacharama village in the Andaman and Nicobar Islands were arrested on the basis of tip-off. Show Full Article A police team patrolling the market on foot nabbed the accused on March 19.“The accused admitted to using the...

As US stock prices tumbled this month, John Sidawi, a fund manager at Federated Hermes, noticed something strange. The US dollar, long a go-to hiding place during market selloffs, wasn’t rallying this time as investors rushed for safety. It was sinking too, and fast, as hot money poured into gold, the yen, European stocks – almost anywhere but the US.“It’s unusual and very telling,” said Sidawi, who helps oversee bond investments at the firm. “The dollar, in an environment where it should be acting like a safe haven, is not.”That, as...

Hungarian Forint to United States Dollar HUF USD 1 HUF 0.00269 USD 5 HUF 0.01345 USD 10 HUF 0.0269 USD 25 HUF 0.06725 USD 50 HUF 0.1345 USD 100 HUF 0.269 USD 500 HUF 1.345 USD 1,000 HUF 2.69 USD 5,000 HUF 13.45 USD 10,000 HUF 26.9 USD 50,000 HUF 134.5 USD United States Dollar to Hungarian Forint USD HUF 1 USD 371.747211896 HUF 5 USD 1,858.73605948 HUF 10 USD 3,717.472118959 HUF 25 USD 9,293.680297398 HUF 50 USD 18,587.360594796 HUF 100 USD 37,174.721189591 HUF 500 USD 185,873.605947955 HUF 1,000 USD...

Everyone has been hyping up Central Bank Digital Currency (CBDC), and rightly so. Governments worldwide are betting big on digital currencies, but here’s the reality—most of them have struggled. China’s Digital Yuan isn’t seeing real adoption, Nigeria’s eNaira flopped, and Europe is still debating the Digital Euro. So, does India stand a chance? Absolutely but with some changes. And here’s why—India already cracked the code with UPI.If we apply the same logic and build CBDC into the existing financial ecosystem rather than competing with it to open new avenues where...

Stay informed with free updatesSimply sign up to the Currencies myFT Digest -- delivered directly to your inbox.Sweden and Norway’s currencies have become a favourite way for traders to bet on a European economic revival, outstripping other major peers since the start of the year as lawmakers across the region promise a spending spree. The Swedish krona has climbed more than 10 per cent against the US dollar this year, putting it on track for its biggest quarterly rise since 2010, while the Norwegian krone has risen more than 8...

THE MYSTERIOUS MR. NAKAMOTO: A Fifteen-Year Quest to Unmask the Secret Genius Behind Crypto, by Benjamin WallaceA few years ago, I met up for coffee in Miami Beach with a person named Keith Rabois. Along with Peter Thiel and Elon Musk, Rabois is a member of the so-called PayPal Mafia — the group that took that company public in 2002 and went on to develop a series of seminal Silicon Valley businesses.The topic of Bitcoin came up, as it tended to do then. Rabois pointed out that PayPal’s original vision...

The value of a country’s currency is a key indicator of its economic stability, inflation control, and fiscal management. While the Nigerian Naira has faced significant depreciation in recent years due to inflation, foreign exchange shortages, and economic instability, several African countries have managed to maintain stronger currencies. These nations benefit from factors such as robust exports, sound monetary policies, and diversified economies that help sustain the value of their money. If you have ever wondered which African currencies hold more value than the Naira, here are twenty countries where...

Image of a 20 Mexican Peso bill which is equivalent to one US dollar (19.738800 pesos) in Mexico ... More City, on June 2, 2022. - A stable political outlook in the face of uncertainty in Colombia, Brazil and Chile, and an attractive financial yield are encouraging a surprisingly strong Mexican peso, despite the country's tepid economic outlook, experts say. (Photo by Pedro PARDO / AFP) (Photo by PEDRO PARDO/AFP via Getty Images)AFP via Getty Images US dollar-pegged stablecoins like USDT and USDC are all the rage this year, but...