Currencies

(Bloomberg) -- India’s dollar stockpile had its biggest weekly gain in over three years, bolstered by the Reserve Bank of India’s currency swap operations last month.Foreign exchange reserves grew by $15.3 billion to nearly $654 billion in the week to March 7, data released on Thursday showed. That is the highest weekly gain since Aug. 27, 2021, according to Bloomberg-compiled data.This comes after the central bank injected $10 billion through a foreign-exchange swap auction on Feb. 28, stepping up efforts to ease a cash crunch in the financial system. The...

PRESIDENT DONALD Trump’s bullying of America’s allies and neighbours may appeal to the maga base. Unfortunately, investors feel otherwise. Confidence in the prospects for the American economy has been sapped and financial markets are sinking. The S&P 500 index of American stocks has dropped by 9% since its peak in February. Because Mr Trump’s on-again, off-again protectionism defies logic, their faith in his administration’s ability to steer the economy is evaporating. It is the same with the dollar. As Mr Trump has threatened tariff after tariff, it has fallen, dropping...

The logo carried ‘ru’, the first letter of the Tamil word 'Rubaai' which denoted the Indian currency in the vernacular language. TN Finance Minister Thangam Thennarasu is scheduled to table the Budget for the 2025-26 on March 14 Published Date - 13 March 2025, 02:51 PM Tamil Nadu Chief Minister MK Stalin Chennai: The DMK government in Tamil Nadu on Thursday released the logo for its Budget for the year 2025-26, which interestingly replaced the Indian Rupee symbol with a Tamil letter. The move saw the...

Asian currencies saw slight gains on Thursday after recent losses, but market sentiment remained cautious due to rising global trade tensions and fears of a U.S. recession. Meanwhile, the dollar steadied following a mild rebound, despite softer-than-expected U.S. consumer price index (CPI) data for February. While some CPI components suggested inflation was cooling, others indicated it remained sticky, keeping traders on edge. A surge in U.S. Treasury yields supported the dollar, as concerns grew over a potential recession and heightened trade tariffs under President Donald Trump. The greenback also held...

Indian authorities arrested at Washington's request a cryptocurrency exchange administrator accused of money laundering conspiracy and violating sanctions, India's top crime fighting bureau said on Wednesday.The United States, Germany and Finland took down the online infrastructure used by the Russian cryptocurrency exchange Garantex, the US Justice Department said last week, adding that two administrators of the exchange were charged. One of those administrators was Aleksej Besciokov, a Russian resident and Lithuanian national who was charged with money laundering and also faced accusations of violating sanctions and operating an unlicensed money-transmitting...

A Lithuanian national Aleksej Besciokov, wanted by the USA, arrested in a coordinated operation between the CBI and Kerala Police. | Photo Credit: PTI Indian authorities arrested at Washington's request a cryptocurrency exchange administrator accused of money laundering conspiracy and violating sanctions, India's top crime fighting bureau said on Wednesday (March 12, 2025).The United States, Germany and Finland took down the online infrastructure used by the Russian cryptocurrency exchange Garantex, the U.S. Justice Department said last week, adding that two administrators of the exchange were charged.One of those administrators was...

BNB price rose as high as $574 on Thursday as markets reacted to news that Binance received major investments from an Abu Dhabi based firm. Derivative markets analysis shows how BNB traders are repositioning amid the latest swings in market sentiment.  PEPE price crossed the $0.00007 for the first time this week as markets reacted to positive macro market signals. Early insights show crypto traders are displaying high risk appetite at the onset of the current market rally. Could this sustain PEPE price uptrend along with the rest of the memecoin market.  Ripple's XRP...

The renewal of the Bilateral Swap Arrangement (BSA), originally established in 2008 and later expanded, now valued at up to $75 billion, marks a significant milestone in the economic partnership between Japan and India. This agreement allows both nations to swap their local currencies for US dollars, providing a critical financial safety net against potential liquidity crises and balance of payments challenges. At a time of heightened global financial volatility, this renewed arrangement underscores the deepening strategic and economic cooperation between these two Asian powerhouses.The BSA holds immense importance for...

Port Louis, Mar 12 (PTI) India and Mauritius on Wednesday elevated their ties to ‘enhanced strategic partnership’ and inked eight pacts to boost ties in several sectors, including maritime security, and promote trade in local currencies, even as Prime Minister Narendra Modi unveiled an ambitious vision for growth and security of the Global South. On the second and final day of his two-day trip to Mauritius, Modi graced the national day celebrations of the island nation as the chief guest and announced a raft of development projects for the strategically-located...

India and Mauritius have strengthened their diplomatic ties by establishing an 'enhanced strategic partnership.' On Wednesday, Prime Minister Narendra Modi and Mauritian Prime Minister Navinchandra Ramgoolam signed eight agreements aimed at fortifying cooperation across multiple sectors, including maritime security and local currency trade.Introducing the ambitious 'MAHASAGAR' vision, Modi outlined India's dedication to the Global South's growth and security, particularly in the Indian Ocean region. This vision, building on the SAGAR initiative, underscores the cooperative spirit between India and Mauritius, focusing on areas like trade, technology, and mutual defense.In their...