Currencies

KUALA LUMPUR, Malaysia, June 10, 2025 /PRNewswire/ --The currency exchange app tKash has officially surpassed 2 million transactions, marking a significant milestone that highlights its rapid growth and the strong trust it has earned from users across Asia. tKash reaches a new milestone 2 MILLION+ transactions! Since its launch just over a year ago, tKash has rapidly gained user trust with its fast, secure, and transparent money exchange service. Today, the app serves users in Thailand, Singapore, Nepal, India, Indonesia, Vietnam, Bangladesh, the Philippines, Pakistan, and Myanmar, providing a trusted solution...

The rupee rose 8 paise to 85.58 against the US dollar in early trade on Tuesday (June 10) amid a positive opening in the domestic equity markets and robust foreign capital inflows.However, rising global crude oil prices and a strengthening US dollar against overseas currencies capped sharp gains in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.62 against the greenback before rising further to 85.58, higher by 8 paise against its previous close. The local unit appreciated 2 paise to close...

This is CNBC's live blog covering Asia-Pacific markets. Asia-Pacific markets climbed Tuesday as investors awaited further details on the U.S.-China trade talks, which were slated to continue for a second day. Officials from both countries held trade talks in London on Monday, with U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer meeting with their Chinese counterparts led by Beijing's Vice Premier He Lifeng. Christian Floro, market strategist at Principal Asset Management foresees that the "market backdrop will remain uncertain in the period ahead," in light...

This is CNBC's live blog covering Asia-Pacific markets. Asia-Pacific markets traded mixed Tuesday as investors awaited further details on the U.S.-China trade talks, which were slated to continue for a second day. Officials from both countries held trade talks in London on Monday, with U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer meeting with their Chinese counterparts led by Beijing's Vice Premier He Lifeng. Christian Floro, market strategist at Principal Asset Management, foresees that the "market backdrop will remain uncertain in the period ahead," in...

Stay informed with free updatesSimply sign up to the Global Economy myFT Digest -- delivered directly to your inbox.The writer is a postdoctoral fellow at the University of Oxford and a former US Treasury officialWhen Time magazine put Alan Greenspan, Robert Rubin and Lawrence Summers on its cover in 1999 as “The Committee to Save the World”, the accompanying story omitted an impressive detail. The Committee to Save the World did not spend a cent to do so. As the US Treasury was faced with the prospect that Congress might leave...

Driven primarily by investors seeking safe havens amid an increasingly uncertain global economy, gold prices have been on a tear recently, reaching an all-time high of approximately $3,500 per ounce in April 2025. Chinese demand has been a critical force propelling gold’s performance. Chinese retail investors have flooded into gold ETFs and set records for billions of purchases; the People’s Bank of China (PBOC) restarted gold purchases after Donald Trump’s reelection and his intensification of the China-U.S. trade conflict.  China’s demand for gold as the global trade system undergoes fundamental...

The Coimbatore District Police are on the lookout for the associates of a 30-year-old man, who was held with counterfeit currencies near Karumathampatti in the district on Sunday.Investigations by the police revealed that the main accused, M. Elavarasan from Indira Nagar near Krishnapuram in Dharmapuri district, and his associates counterfeited ₹2,000 and ₹500 denomination currencies using desktop arrangements.The counterfeiting came to light after a driver hailing from Samalapuram in Tirupur district tipped the police about the gang. The accused had offered him ₹2 lakh (counterfeit) against an initial payment of...

Although cryptocurrency is not officially accepted, India has a policy in place for transactions involving cryptocurrency. At the start of 2022, the government introduced a 30% tax on capital gains from cryptocurrency. Additionally, a 1% tax is deducted at the source by law for every transaction. GST is charged on the services provided by cryptocurrency exchanges.Additionally, these taxes should not be considered as formal government approval. India has not officially stated whether cryptocurrencies are legal or not. Though the sector falls under money laundering rules, they don’t include any special...

Do you know how the concept of currency came about? In ancient times, people used to exchange things like cattle or harvests in exchange for goods or services. For example, a milkman would exchange your milk with a farmer looking for vegetables. But there is a problem: What if the farmer needs something else instead of milk? Let's just say shoes. Therefore, milk needs to find a shoemaker to change its milk for shoes. But what if the shoemaker needs a blacksmith to exchange his shoes for tools? So confusing, right? This...

Rate cuts, FX gains are in focus as demand increases. by Marcus Wong and Jaehyun Eom  Global investors are extending their purchases of sovereign bonds in emerging Asia on rate-cut wagers and stronger local currencies.  Foreign funds bought $2.9 billion in Malaysia conventional government bonds in May, according to Bank Negara Malaysia’s latest data, the largest monthly inflow since October 2013. Their purchase of a net $652 million of listed bonds in South Korea on Thursday, marked the longest buying streak in more than two years, according to Financial Supervisory Service...