Currencies

Cryptocurrencies sold off sharply heading into the week in Asia, underscoring a clear risk-off sentiment across markets.Bitcoin shed about 7% of its value from Sunday night through to Monday morning in Singapore to reach a low point of $77,077. Second-ranked token Ether plummeted to $1,538, an intra-day low not seen since Oct. 2023. Both Bitcoin and Ether later pared losses. The slide comes as US president Donald Trump dug in on sweeping tariffs that have already wiped trillions in value from US equities. US equity-index futures slumped and the Yen...

Former World Bank Chief Economist Kaushik Basu analyzes the impact of US reciprocal tariffs on India, stating it will have a negative impact on both countries. He suggests India focus on expanding trade with other nations.New Delhi, Apr 6 (PTI) Former World Bank Chief Economist Kaushik Basu on Sunday described the reciprocal tariffs imposed on approximately 60 countries by the Trump administration as baffling, saying that while these tariffs will have some adverse effects on India, the major impact will be felt in the US.Basu further said that it is...

India's foreign exchange reserves rose by $6.6 billion to $665.4 billion in the week ending March 28, marking the highest weekly increase in nearly five months, according to RBI data. This marks the fourth consecutive weekly gain, with total reserves up by $20.1 billion in that period. New Delhi: India’s foreign exchange reserves rose sharply by USD 6.6 billion to reach USD 665.4 billion in the week ended March 28, marking the highest increase in nearly five months, according to data released by the Reserve Bank of India (RBI). This...

The US dollar rebounded against major currencies such as the euro and yen on Friday (Apr 4) after Federal Reserve Chairman Jerome Powell acknowledged the repercussions of larger-than-expected US tariffs and signalled a cautious tone on future easing. Powell said that tariffs increased the risk of higher inflation and slower growth, highlighting the difficult path ahead for policymakers at the US central bank. The Australian dollar, meanwhile, seen as a liquid proxy for the yuan, hit five-year lows against the greenback after China announced additional tariffs on US goods on...

With around 180 currencies in use worldwide, it’s a difficult task to keep an eye on them all, especially when exchange rates cause constant fluctuations in how they perform. There is a huge range of factors which can push a currency up, or down, the global rankings, including low inflation, interest rates and exports.But what are the strongest currencies in the world? According to smartasset, a currency is classified as strong when it is worth more than another’s. In a country with a stronger currency, it would mean it would...

With around 180 currencies in use worldwide, it’s a difficult task to keep an eye on them all, especially when exchange rates cause constant fluctuations in how they perform. There is a huge range of factors which can push a currency up, or down, the global rankings, including low inflation, interest rates and exports.But what are the strongest currencies in the world? According to smartasset, a currency is classified as strong when it is worth more than another’s. In a country with a stronger currency, it would mean it would...

The RBI is known for intervening in the forex market to manage the liquidity of the Rupee. The central bank’s intervention typically includes selling dollars to prevent a sharp depreciation of the Rupee and buying dollars when the Rupee is strong. India’s foreign exchange reserves rose by a substantial USD 6.6 billion in the week ending on March 28, reaching USD 665.396 billion, according to the latest data released by the Reserve Bank of India (RBI). This marks the fourth consecutive week of gains, following a period of decline. The...

According to RBI data, forex reserves have increased cumulatively by $20.1 billion over the past three weeks and by about $6.6 billion in the latest reporting week In a significant development, India's foreign exchange reserves rose from $6.596 billion to $665.396 billion in the week that ended on March 28, extending gains for the fourth straight week, official data released by RBI showed.This significant jump is the highest in nearly five months, after witnessing a period of downturn.According to RBI data, forex reserves have increased cumulatively by $20.1 billion over...

Iran’s rial currency traded on Saturday at a record low against the US dollar as the country returned to work after a long holiday, costing over 1 million rials for a single greenback as tensions between Tehran and Washington likely will push it even lower.The exchange rate had plunged to over 1 million rials during the Persian New Year, Nowruz, as currency shops closed and only informal trading took place on the streets, creating additional pressure on the market. But as traders resumed work Saturday, the rate fell even further...

Iran’s rial currency traded Saturday at a record low against the U.S. dollar as the country returned to work after a long holiday, costing over 1 million rials for a single greenback as tensions between Tehran and Washington likely will push it even lower. The exchange rate had plunged to over 1 million rials during the Persian New Year, Nowruz, as currency shops closed and only informal trading took place on the streets, creating additional pressure on the market. But as traders resumed work Saturday, the rate fell even further to 1,043,000...