Currencies

A new currency ranking has listed the top-performing currencies in Africa in May 2025, as the naira crashesThe list shows that the Tunisian dinar emerged as the continent’s strongest currency, trading at 2.95 dinars to the dollarAlso, the Ghanaian currency, the cedi, edged out some top performers, becoming one of the strongest currencies in Africa in May 2025 Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.According to a new ranking, in April 2025, the Tunisian Dinar strengthened, emerging as Africa’s strongest currency...

Conduit, a cross-border payments firm that uses stablecoins, has raised $36 million in a Series A round to expand its global payment rails, the company said on Wednesday. The round was led by Dragonfly and Altos Ventures, with backing from Circle Ventures and Digital Currency Group among others.Founded in 2021, the Boston-based startup offers real-time payments that blend crypto infrastructure with traditional finance systems. Its platform supports both stablecoins and local fiat currencies, helping businesses in markets with limited dollar access or unstable currencies move money more efficiently.The firm claims...

The African Development Bank (AfDB) has projected that the Nigerian naira will depreciate by at least 6% between 2025 and 2026, citing growing global financial market volatility as a key factor.The outlook, published in the African Economic Outlook 2025, highlights the impact of global uncertainty on the stability of African currencies over the next year.The report comes just a week after Central Bank of Nigeria (CBN) Governor Olayemi Cardoso announced that volatility in Nigeria’s foreign exchange (FX) market has significantly declined, dropping below 0.5%.Cardoso attributed this improvement to monetary and...

The digital era has opened up a new front—a one in which economies are being constructed not using physical goods or traditional money, but digital currency and virtual transactions. In India, one of the world's fastest-growing digital economies, this revolution is now maturing in the form of the Metaverse and cryptocurrencies. They're jointly constructing a new kind of economy—an immersive, decentralized, and rapidly-growing universe outside of gaming or social media.What Is the Metaverse?The Metaverse is a virtual universe that has humans connected and living along with their avatars, attending events,...

GBP/USD stabilizes near 1.3500 following Tuesday's bearish action.Technical sellers could look to retain control if GBP/USD breaks below 1.3500.In the absence of high-tier data releases, markets will focus on FOMC Minutes.GBP/USD trades in a narrow channel slightly above 1.3500 on Wednesday after closing in negative territory and snapping a six-day winning streak on Tuesday. The pair's technical outlook is yet to point to a bearish reversal but sellers could take action if the pair flips 1.3500 into resistance. British Pound PRICE This week The table below shows the percentage change...

Asian currencies edged lower on Wednesday as the U.S. dollar strengthened following better-than-expected consumer sentiment data. The U.S. Dollar Index rose 0.3% during Asian trading, supported by a positive economic outlook, while Dollar Index Futures mirrored the gain. The Japanese yen weakened further, with USD/JPY up 0.2% after a near 1% rise on Tuesday. Market attention turned to Japan’s 40-year bond auction, as yields on 20-, 30-, and 40-year government bonds recently surged to record highs. A Reuters report indicated that Japan’s Ministry of Finance may reduce super-long bond issuance...

Over the weekend Niti Aayog CEO BVR Subrahmanyam declared that India had overtaken Japan to become the fourth-largest economy in the world. He based this claim on data from the International Monetary Fund (IMF).This claim reportedly led to two fairly divergent reactions.First, a wave of self-congratulation among Indians who take this particular detail as a clinching argument that the government of the day has brought about a fundamental improvement in India’s economy.Second, an examination of the claim and a counter-assertion, again based on IMF data, that India is still the...

This is an audio transcript of the FT News Briefing podcast episode: ‘Rio Tinto’s surprise CEO hunt’Marc FilippinoGood morning from the Financial Times. Today is Wednesday, May 28th, and this is your FT News Briefing. US stocks came out the long weekend with some pep in their step. And Asian currencies are having a party of their own. Plus, Rio Tinto is on a surprise hunt for a new CEO. I’m Marc Filippino, and here’s the news you need to start your day. Investors on Wall Street got excited by...

Asian equities rose on Wednesday following a Wall Street rally as traders cheered forecast-beating US consumer confidence data and a drop in bond yields, with eyes now on a key sale of Japanese debt.New York investors returned to their desks after a long weekend break in a good mood after Donald Trump delayed until July the 50 per cent tariffs he announced out of the blue on Friday, sparking a market rout.The US president’s announcement Sunday soothed worries about a fresh flare-up in his trade war that has rattled global...

An Indian man robbed nearly 100,000 baht from a currency exchange shop in the Bangrak district of Bangkok on Monday and performed a wai before fleeing the scene. He was ultimately arrested yesterday, May 27. Officers from Bangrak Police Station received complaints from two currency exchange shops in the area: X-ONE Currency Exchange Centre on Surawong Road and WISE Exchange on Silom Road. A foreign man, whose nationality was initially unknown, approached staff at both locations, threatened them with a gun, and demanded money. The suspect failed to steal money...