Currencies

Mumbai, Mar 17 (PTI) Reserve Bank on Monday said India’s bilateral trade transactions with Maldives may also be settled in INR and/or MVR in addition to the ACU mechanism. Asian Clearing Union (ACU) is a payment arrangement whereby the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis. The participants include central banks and the monetary authorities of Bangladesh, Belarus, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. Show Full Article A Memorandum of Understanding (MoU) has been signed between RBI...

Mumbai: Reserve Bank on Monday said India's bilateral trade transactions with Maldives may also be settled in INR and/or MVR in addition to the ACU mechanism. Asian Clearing Union (ACU) is a payment arrangement whereby the participants settle payments for intra-regional transactions among the participating central banks on a net multilateral basis. The participants include central banks and the monetary authorities of Bangladesh, Belarus, Bhutan, India, Iran, Maldives, Myanmar, Nepal, Pakistan, and Sri Lanka. A Memorandum of Understanding (MoU) has been signed between RBI and Maldives Monetary Authority in November...

The broader equity market sell-off continued last week, propping up safe-haven assets. Gold’s rally reflected this situation, as the yellow metal broke the $3,000 level for the first time in history. Not even the better-than-anticipated CPI print of 2.8% on Wednesday stopped the trend, which eventually showed signs of exhaustion by Friday. The Bank of Canada held the interest rate at 2.75%, which was in line with expectations, while the UK’s GDP unexpectedly shrank by 0.1% as the production sector fell short of expectations. The Australian dollar, a commodity currency,...

On Monday, the dollar teetered near a five-month low against major global currencies, grappling with the impact of President Donald Trump's unpredictable trade policies and feeble economic indicators from the U.S.Meanwhile, Germany's recent fiscal strategies have infused optimism into the euro, pushing it to a value of $1.0905 and nudging it towards a peak seen last week. The Japanese yen also showed marginal gains, reflecting a broader trend where the dollar struggles against its main counterparts.Observers point to a shift in currency market sentiments, driven by revised expectations on...

In the fast-paced, often unpredictable realm of contemporary art, the London Art Exchange (LAE) stands out as a beacon of innovation. Located in the vibrant heart of Soho, this gallery isn’t merely a showcase for emerging talent and established masters—it’s a trailblazer in redefining art as a reliable investment vehicle. By securing buyers like luxury hotels, upscale bars, innovative restaurants, and forward-thinking conglomerates well in advance, LAE offers investors a rare commodity: certainty. With exit strategies locked in at precise intervals—typically 18 or 24 months—collectors can now approach the art...

On Monday, the dollar hovered near a five-month low against major currencies as President Donald Trump's erratic trade policies and soft economic data took their toll. The euro, benefiting from domestic drivers, is faring better, last recorded at $1.0876. Despite slight dips, it's close to hitting its highest point since October 11.Similarly, the Japanese yen witnessed softness at 148.94 per dollar but remains stronger having recently peaked in five months. These movements have driven the dollar index, which tracks the U.S. currency against six major counterparts, to linger just...

Surat: Two persons were arrested in Gujarat's Surat city with "high quality" Fake Indian Currency Notes (FICN) with a face value of Rs 9,000, allegedly supplied from Bangladesh, police said Monday. One of the arrested accused, Suresh Lathidadiya, is booked in three cases related to FICN, the National Investigation Agency (NIA) is investigating, they said.Lathidadiya bought FICN with a face value of Rs 6 lakh from a wanted accused from West Bengal for Rs 2 lakh, and the latter had procured the notes from Bangladesh, the Surat Special Operations Group...

XRP price rebounded above $2.42 on Friday, marking a 28% recovery from the weekly timeframe low of $1.90. The rally was fueled by the U.S. Securities and Exchange Commission’s (SEC) kicking off settlement talks with Ripple, and speculations the Blackrock could launch altcoin derivatives products.  Solana (SOL) is up 9% on Friday following the result of the recent Solana Improvement Document (SIMD) 0228 governance vote, which failed to meet the required 66.67% approval threshold of participatory votes. Ethereum (ETH) gained 3% on Friday, trading above $1,900 at press time. Despite the recent slight...

The rupee appreciated 25 paise to 86.80 against the US dollar in early trade on Monday, as domestic equities opened on a higher note and Asian currencies continued to remain on the stronger side.Forex traders said the rupee could extend its gains in the near-term, as the dovish Fed expectation has pressured the greenback, further aiding the rupee’s recovery. However, global risk sentiment and oil price movements will play a crucial role in determining the next leg of the rupee’s trajectory. Story continues below this ad At the interbank foreign...

The Central Zone Task Force has arrested four persons involved in an illegal operation to exchange demonetised Indian currency notes for valid currency. Acting on credible information, the Task Force apprehended the gang in Abid and seized demonetised currency worth ₹55,52,500 in ₹1,000 and ₹500 denominations.The arrested have been identified as Syed Muzammil Hussain (48), the prime accused, along with his associate Amzad Khan (42), and two agents, Palthi Bhaskar (46) and Shaik Naseema (50). According to the police, the gang attempted to defraud the public by offering large commissions in exchange...