Currencies

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...

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...

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...

(Bloomberg) — As US stock prices tumbled this month, John Sidawi, a fund manager at Federated Hermes, noticed something strange. Most Read from Bloomberg The 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...

In a historic move, India and Sri Lanka are on the brink of signing an ambitious defence cooperation pact, marking a significant shift in their bilateral relations. This agreement, to be signed during Prime Minister Narendra Modi's visit to Colombo, signals a departure from past challenges and a renewed partnership.Alongside the defence pact, India and Sri Lanka aim to establish a currency swap framework and finalize a joint development plan for Trincomalee oil firms with the UAE. These developments underscore growing ties and mutual interests in economic recovery and...

India's foreign exchange reserves surged by $4.5 billion to scale a 4-month high of $658.8 billion in the week ended March 28, 2025, according to data released by the Reserve Bank of India on Friday. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) were down by $1.6 billion to $558.86 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.Gold reserves saw a surge of $2.8...