Currencies

THE outlook for emerging Asian currencies is worsening again after US President Donald Trump announced new tariffs on China, curbing optimism that his threats were mainly bargaining ploys. Regional currencies have tumbled over the past week, with the Thai baht and South Korean won both sliding about 2 per cent, as rising fears over a global trade war sapped risk appetite. Asian currencies have also unwound part of their January rally as a number of central banks in the region cut interest rates to support growth. There are “significant risks” to the...

Sparks strike representation of cryptocurrency Bitcoin in this illustration taken November 24, 2024. — ReutersBitcoin surged over 20% on Monday, following a declaration by United States President Donald Trump regarding his plans for a new US strategic reserve of digital currencies.In a post on Truth Social, Trump revealed that his January executive order would would create a stockpile of currencies including bitcoin, ether, XRP, solana and cardano — names that had not been previously announced. Bitcoin and ether will be at the heart of this reserve, he posted on Sunday. The...

In a post on Truth Social, Trump said his January executive order on digital assets would establish a stockpile of currencies, including Bitcoin, Ether, XRP, Solana, and Cardano. The specific names had not been previously disclosed.More than an hour later, Trump added: "And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be at the heart of the Reserve."Bitcoin, the world's largest cryptocurrency by market capitalization, rose more than 11% to $94,164 on Sunday afternoon. Ether, the second-largest, gained about 13% to reach $2,516.The broader cryptocurrency market surged approximately 10%,...

TEMPO.CO, Jakarta - When it comes to currency, the focus often revolves around its strength—the higher the value, the more buying power it holds. However, there are notable exceptions, with some named as the weakest currency in the world.These currencies are known for their low exchange rates and significant depreciation, which can be indicative of various economic challenges.List of the Weakest Currencies in the WorldBank Bazaar and Forbes both named the Iranian Rial as the weakest currency in the world. Keep reading to discover nine other currencies that share this reputation...

Bitcoin (BTC) price hovers around $93,000 on Monday after rallying 9.53% the previous day. Ethereum (ETH) and Ripple (XRP) prices followed BTC’s footsteps and rallied nearly 14% and 35% on Sunday. This spike in prices was triggered by Donald Trump’s announcement on his Truth Social platform of a US ‘Crypto Strategic Reserve’, including Bitcoin (BTC), ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), aiming to boost America’s crypto leadership. Bitcoin (BTC/USD) shows signs of resilience after enduring a relentless five-day sell-off that saw the price plummet from the $96,400 impact zone to a low...

After talking about creating a “strategic reserve” of cryptocurrencies during his Presidential bid last year, Donald Trump has for the first time announced five virtual coins he plans to include in the American reserve stockpile – a move which has given a booster shot to the crypto trading market, helping it upend the downward trajectory it seemed to be headed on over concerns around Trump’s uncertain trade decisions.The market prices of the five coins he named – Bitcoin, Ethereum, XRP, Solana and Cardano – all swiftly jumped after the announcement....

ASIAN markets climbed on Monday on hopes that China will announce a huge stimulus package that will help offset US President Donald Trump’s looming tariffs against Chinese goods.Investors were also watching for any last-ditch deals to ward off the levies hitting Mexico, Canada and China due to come in force on Tuesday.Trump had confirmed 25 per cent tariffs on products from Mexico and Canada, and further imposed another 10 per cent on Chinese goods from this week.“Traders are on edge for last-minute negotiations to sidestep US tariffs,” said Stephen Innes,...

MUMBAI: The Indian rupee is likely to inch up on Monday, tracking an uptick in regional peers to kick off a week where the focus will be on news flow on U.S. tariffs and economic data. The 1-month non-deliverable forward indicated that the rupee will open at 87.40-87.42 to the U.S. dollar compared with 87.4950 in the previous session. The Indian currency dropped 1% in February, logging its fifth straight monthly loss. March is considered seasonally favourable for the rupee and the Indian currency may be able to pause its...

Asian markets climbed on Monday on hopes that China will announce a huge stimulus package that will help offset US President Donald Trump's looming tariffs against Chinese goods.Investors were also watching for any last-ditch deals to ward off the levies hitting Mexico, Canada and China due to come into force on Tuesday.Trump has confirmed 25 percent tariffs on products from Mexico and Canada, and further imposed another 10 percent on Chinese goods from this week."Traders are on edge for last-minute negotiations to sidestep US tariffs," said Stephen Innes, an analyst...

Share prices of European defence companies soared Monday as London and the European Union look to ramp up military spending in the face of uncertainty over the United States' commitment to Ukraine and NATO.BAE Systems surged 14 percent, helping London's benchmark FTSE 100 index to a record high, the latest in a series over recent months.French defence group Thales won more than 16 percent and German peer Rheinmetall rallied 15 percent."Europe is rallying round Ukraine and it's hard to see defence stocks not enjoying years of orders," noted Neil Wilson, analyst at TipRanks.European Commission chief Ursula von der...