Currencies

There is no change in the forex policy of the central bank despite several quarters believing that under the new governor Sanjay Malhotra, RBI would not aggressively defend the rupee, said the official, citing discussions between the government and the RBI on the currency slide. The Indian rupee has weakened about 3.5% against the dollar in the past six months to 86.88 on 7 March, as per data from Bloomberg. By comparison, the Chinese Yuan and the Japanese Yen weakened 1.7% and 0.7%, respectively, during the period. “The government does...

SYMBOL - 23 April 2024, Baden-Württemberg, Rottweil: The logos of the cryptocurrencies Bitcoin ... (BTC), Ethereum (ETH), the stablecoin Tether (USDT) and Binance Coin (BNB) can be seen on the trading platform CoinMarcetCap. (Image with longer exposure time). Photo: Silas Stein/dpa (Photo by Silas Stein/picture alliance via Getty Images)dpa/picture alliance via Getty Images Private, or “crypto” money will eventually replace government money. Bank on it. As written in The Money Confusion, profits from the trading of fiat currency chaos ($7 trillion per day worth of currency trading) ensure the eventual...

(Bloomberg) -- Some of Asia’s biggest central banks are getting a painful refresher in economic theory. Monetary authorities in China, India and elsewhere have waged a prolonged campaign against the strong dollar, using a mix of official reserves and opaque derivatives trades to defend their currencies. But their moves have pushed up borrowing costs for local banks just when slowing economies need more liquidity. China’s overnight and seven-day repo rates surged in February, while bond investors took losses from a sharp rise in yields. Banking liquidity in India suffered its...

India's foreign exchange reserves slumped in the week that ended on February 28, as per the latest RBI data. In the week under consideration, the foreign exchange reserves declined by $1.781 billion to $638.698 billion. Forex reserves had slumped for about four months, recently hitting an 11-month low. Then followed the latest rollercoaster movement, with gains some weeks and declines the next. Forex reserves started falling after touching an all-time high of $704.89 billion in September. They are now about 10 percent lower from their peak. The decline in reserves...

New Delhi , March 9 (ANI): India’s foreign exchange reserves slumped in the week that ended on February 28, as per latest RBI data. In the week under consideration, the foreign exchange reserves declined by USD 1.781 billion to USD 638.698 billion. Show Full Article Forex reserves had slumped for about four months, recently hitting an 11-month low. Then followed the latest rollercoaster movement, with gains some weeks and declines the next. Forex reserves started falling after touching an all-time high of USD 704.89 billion in September. They are now...

Qubetics has been steadily progressing, with continuous development focused on expanding its Real World Asset Tokenization Marketplace. This is the key feature that differentiates it from many other projects in the blockchain space. The project’s ability to bring real-world assets into the blockchain will simplify asset management, allowing businesses and individuals to trade, invest, and utilize these assets much more efficiently.Qubetics’ presale success and its roadmap towards launching its mainnet are solid indicators of the project’s potential. Analysts predict that $TICS could see impressive returns, with some forecasting a 923%...

Visiting another country is a great way to explore and experience other cultures, but you want to make sure you have cash on hand and the ability to withdraw cash abroad for the smoothest travel experience.Understanding how to get foreign currency affordably can help you maximize your travel budget. Often, exchanging money before departure offers better rates and lower fees than waiting until you arrive. From bank exchange rates to ATM strategies, learn how to get the best conversion rates and avoid unnecessary fees, ensuring you’re never caught without funds...

The Promise of CBDC and Gift City’s Role Is the Digital Rupee ready for real-world testing? At a time when countries like China and the European Union are pioneering their own CBDCs, such as the Digital Yuan and the Digital Euro respectively, India is not far behind in its ambitions of having its version of CBDC-the Digital Rupee, better known as e-RUPI. These various global initiatives will go a long way in updating the world’s financial systems, monetary policy mechanisms, and financial inclusion. China has already started testing the e-CNY,...

On March 7 2025, Donald Trump went against his previously held beliefs that cryptocurrency was “based on thin air” and confirmed the establishment of the Bitcoin Strategic Federal Reserve, an initiative that looks to promote the importance of decentralised digital currencies across the country and the world. According to the executive order released on Thursday, the bitcoin reserve will be funded with bitcoin owned by the federal government that was forfeited as part of either criminal or civil asset proceedings.Just a few minutes ago, President Trump signed an Executive Order...