Currencies

The Central Bank of Kenya (CBK) and the Central Bank of UAE (CBUAE) have signed two agreements to strengthen financial ties between the two countries. The agreements between the two nations will facilitate the use of local currencies, including the Kenyan shilling, in settling cross-border transactions, while also interlinking instant payment systems and messaging frameworks. "Under the first MoU, the CBUAE and the CBK will strengthen cooperation between the United Arab Emirates and the Republic of Kenya to support the sustainable development of both financial markets. This agreement will also...

In brief Coinbase CEO Brian Armstrong warned that if Congress fails to address the $37 trillion U.S. debt, Bitcoin could replace the dollar as the global reserve currency. Lawmakers and analysts say mounting deficits and money printing are eroding trust in the dollar, pushing states like New Hampshire and Arizona to start stockpiling Bitcoin. Experts, including six Nobel economists, warn the Trump-backed “big, beautiful bill” could worsen inequality and debt, while Elon Musk slammed it as a “disgusting abomination.” Coinbase CEO Brian Armstrong warned that Bitcoin might “take over” as...

Open this photo in gallery:The loonie was trading 0.1 per cent lower at 1.3725 per U.S. dollar, or 72.86 U.S. cents, after trading in a range of 1.3702 to 1.3742.Mark Blinch/ReutersThe Canadian dollar CADUSD edged lower against its U.S. counterpart on Tuesday but was performing better than all the other Group of 10 currencies, as oil prices rose and investors awaited a Bank of Canada interest rate decision this week.The loonie was trading 0.1 per cent lower at 1.3725 per U.S. dollar, or 72.86 U.S. cents, after trading in a...

Open this photo in gallery:The loonie was trading 0.1 per cent lower at 1.3725 per U.S. dollar, or 72.86 U.S. cents, after trading in a range of 1.3702 to 1.3742.Mark Blinch/ReutersThe Canadian dollar CADUSD edged lower against its U.S. counterpart on Tuesday but was performing better than all the other Group of 10 currencies, as oil prices rose and investors awaited a Bank of Canada interest rate decision this week.The loonie was trading 0.1 per cent lower at 1.3725 per U.S. dollar, or 72.86 U.S. cents, after trading in a...

Open this photo in gallery:The loonie was trading 0.1 per cent lower at 1.3725 per U.S. dollar, or 72.86 U.S. cents, after trading in a range of 1.3702 to 1.3742.Mark Blinch/ReutersThe Canadian dollar edged lower against its U.S. counterpart on Tuesday but was performing better than all the other Group of 10 currencies, as oil prices rose and investors awaited a Bank of Canada interest rate decision this week.The loonie was trading 0.1 per cent lower at 1.3725 per U.S. dollar, or 72.86 U.S. cents, after trading in a range...

The digital nomad lifestyle is gaining popularity among professionals. With remote work opening the doors to a style of working from anywhere, it is not just professionals in tech, content creation, marketing, or consulting that have chosen to work out of co-working spaces in Bali instead of boardrooms in Bengaluru. The lifestyle is not just about changing your location; it’s about adopting an entirely new way of life with a focus on flexibility, autonomy, and experiencing the world. However, while the idea of traveling to all of these exotic places...

The global competition to transform traditional currency systems into digital currency is currently driving central banks across the world to create central bank digital currencies (CBDCs).  Most countries are executing the deployment of digital currency in operational settings. This means that testing is currently happening in real environments. Other countries, including the United States, are working on legal and technical structure development alongside privacy and financial oversight considerations.  The key debate of privacy and autonomy in investing in digital currencies is that of KYC. Most government regulators want banks and...

It’s been a tough few months for believers in the currency market version of Pax Americana.Dollar critics confidently proclaim that its reign is over. In Asia, this is a "sell America” moment. Any sane investor is scouring the planet for an alternative — one that offers all the advantages of the incumbent but none of the downside. Europeans also want in, extolling the virtues of the euro.Good luck with that. One of my reservations about this bearishness isn’t that the upheavals induced by U.S. President Donald Trump — tariffs, an...

Cryptocurrency exchange Coinbase knew as far back as January about a customer data leak at an outsourcing company connected to a larger breach estimated to cost up to $400 million (roughly Rs. 3,420 crore), six people familiar with the matter told Reuters.At least one part of the breach, publicly disclosed in a May 14 SEC filing, occurred when an India-based employee of the US outsourcing firm TaskUs was caught taking photographs of her work computer with her personal phone, according to five former TaskUs employees.Three of the employees and a...

Many non-governmental organizations (NGO’s) operating in India receive foreign funds. Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) received a majority of seats in India’s Lok Sabha (lower house of parliament) in May 2014 national elections. National elections in 2019 and 2024 have continued the BJP majority in Lok Sabha control.The BJP worldview is that India will be a Hindu state with values called Hindutva. Any different belief system is not accepted. BJP government policy sees registered non-Hindu NGOs as hindering their Hindutva cause. One solution is to suspend government...