Currencies

Stay informed with free updatesSimply sign up to the Global Economy myFT Digest -- delivered directly to your inbox.The writer is a postdoctoral fellow at the University of Oxford and a former US Treasury officialWhen Time magazine put Alan Greenspan, Robert Rubin and Lawrence Summers on its cover in 1999 as “The Committee to Save the World”, the accompanying story omitted an impressive detail. The Committee to Save the World did not spend a cent to do so. As the US Treasury was faced with the prospect that Congress might leave...

Driven primarily by investors seeking safe havens amid an increasingly uncertain global economy, gold prices have been on a tear recently, reaching an all-time high of approximately $3,500 per ounce in April 2025. Chinese demand has been a critical force propelling gold’s performance. Chinese retail investors have flooded into gold ETFs and set records for billions of purchases; the People’s Bank of China (PBOC) restarted gold purchases after Donald Trump’s reelection and his intensification of the China-U.S. trade conflict.  China’s demand for gold as the global trade system undergoes fundamental...

The Coimbatore District Police are on the lookout for the associates of a 30-year-old man, who was held with counterfeit currencies near Karumathampatti in the district on Sunday.Investigations by the police revealed that the main accused, M. Elavarasan from Indira Nagar near Krishnapuram in Dharmapuri district, and his associates counterfeited ₹2,000 and ₹500 denomination currencies using desktop arrangements.The counterfeiting came to light after a driver hailing from Samalapuram in Tirupur district tipped the police about the gang. The accused had offered him ₹2 lakh (counterfeit) against an initial payment of...

Although cryptocurrency is not officially accepted, India has a policy in place for transactions involving cryptocurrency. At the start of 2022, the government introduced a 30% tax on capital gains from cryptocurrency. Additionally, a 1% tax is deducted at the source by law for every transaction. GST is charged on the services provided by cryptocurrency exchanges.Additionally, these taxes should not be considered as formal government approval. India has not officially stated whether cryptocurrencies are legal or not. Though the sector falls under money laundering rules, they don’t include any special...

Do you know how the concept of currency came about? In ancient times, people used to exchange things like cattle or harvests in exchange for goods or services. For example, a milkman would exchange your milk with a farmer looking for vegetables. But there is a problem: What if the farmer needs something else instead of milk? Let's just say shoes. Therefore, milk needs to find a shoemaker to change its milk for shoes. But what if the shoemaker needs a blacksmith to exchange his shoes for tools? So confusing, right? This...

Rate cuts, FX gains are in focus as demand increases. by Marcus Wong and Jaehyun Eom  Global investors are extending their purchases of sovereign bonds in emerging Asia on rate-cut wagers and stronger local currencies.  Foreign funds bought $2.9 billion in Malaysia conventional government bonds in May, according to Bank Negara Malaysia’s latest data, the largest monthly inflow since October 2013. Their purchase of a net $652 million of listed bonds in South Korea on Thursday, marked the longest buying streak in more than two years, according to Financial Supervisory Service...

Published Mon, Jun 9, 2025 · 03:54 PM Global investors are extending their purchases of sovereign bonds in emerging Asia on rate-cut wagers and stronger local currencies. Foreign funds bought US$2.9 billion in Malaysia conventional government bonds in May, according to Bank Negara Malaysia’s latest data, the largest monthly inflow since October 2013. Their purchase of a net US$652 million of listed bonds in South Korea on Jun 5, marked the longest buying streak in more than two years, according to Financial Supervisory Service data. The inflows came as most emerging-Asian...

The cryptocurrency market begins the week on a positive note with altcoins such as SPX6900 (SPX), Internet Computer (ICP), and AB (AB) leading the gains on Monday, at press time. Recovering from the flash crash on Thursday, Bitcoin reclaims and holds above the $105,000 level on Saturday, adding tailwinds to altcoins. The meme coin SPX soared 7.95% on Sunday following the 8% hike on Saturday to complete a bullish weekend. At the time of writing, SPX trades at $1.25 with minimal intraday movement after a 22% rally last week.  Ethereum (ETH) is trading just below $2,500...

Asian currencies saw modest gains on Monday as the US dollar retreated ahead of key trade talks between the U.S. and China in London. The US Dollar Index dipped 0.2% during Asian trading hours, reversing some of Friday’s gains driven by strong U.S. jobs data. However, US Dollar Index Futures remained 0.2% higher, reflecting investor caution. The anticipated meeting between U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, Trade Representative Jamieson Greer, and China’s Vice Premier He Lifeng aims to build on last month’s tentative Geneva truce. Talks are...

Stocks rallied on Monday (Jun 9) on hopes that a fresh round of China-US trade talks later in the day will ease tensions between the economic superpowers, while investors were also cheered by forecast-topping US jobs data. The gains extended a run-up across global markets in recent weeks as fears about US President Donald Trump’s tariff blitz subside and countries make deals with Washington.All eyes are on London, where top officials from China and the United States are due to meet for more negotiations aimed at preserving a fragile truce agreed...