archivedollar

More than a decade ago, walking along the busy main road of Goma in the Eastern Democratic Republic of the Congo, you could find a lot of things for sale: clothes, hats, groceries. And dollars. Huge stacks of dollars carried by young men, known as money changers. Some dollars were so soiled they were black and limp like cloth, they’d been in circulation for so long. Others were newer.“Everyone prefers U.S. dollars over Congolese francs,” one money changer told me. “It’s more stable. A lot of people here are import-exporters,...

Asian currencies turbocharged by dollar weakness are attaining rarely seen superlatives and triggering central bank intervention to curb excessive gains.The Hong Kong Monetary Authority on Friday sold a record amount of local dollars to prevent its advance and protect the currency’s 42-year-old peg to the greenback. Taiwan’s central bank also intervened as its currency soared the most since 1988. The offshore yuan rallied to its strongest since November.The volatility shows how an exodus from the world’s reserve currency can ripple through financial markets, as President Donald Trump’s shifting tariff policies...

US Stock Market Live: Futures on Wall Street have ticked lower on Sunday evening after reporting another week of gains, in what appears to be a swift rebound from US President Donald Trump's tariff tantrums. Futures on the Dow Jones are down 120 points, while those on the S&P 500 and Nasdaq are down 20 points and 75 points respectively. Although there has been no headway in the tariff talks, Trump has added to the confusion with contradictory statements yet again.US Stock Market Live: Futures on Wall Street have ticked...

As the world economy enters a phase of volatility, Indian investors are increasingly questioning the wisdom of keeping their portfolios confined to domestic markets. The Mumbai edition of Mint Horizons, hosted on April 11 at the MCA, Bandra Kurla Complex, brought together some of the most prominent voices in finance and investing to explore why diversification across geographies and currencies is no longer optional — it's essential.Reframing the India-only mindsetNeil Borate, Deputy Editor at Mint, opened the event by highlighting the limited discourse in India around global investing. “This is...

Asian stocks battled to hold ground on Tuesday after a furious flight from US assets undermined Wall Street and the dollar, while concerns about the independence of the Federal Reserve piled fresh pressure on Treasuries.Relatively limited losses in Asia did spark talk that funds could be reallocating money to equities in the area, though the impact of tariffs on economic growth remained a major drag.President Donald Trump’s increasingly vocal attacks on Fed Chair Jerome Powell for not cutting interest rates saw Wall Street indexes shed around 2.4 per cent on...

The yen advanced past the psychological level of 140 against the dollar as investors sought alternatives to the greenback amid increasing risks for US assets.With the independence of the Federal Reserve under threat, heightened unease from tariffs and a looming meeting between the finance chiefs of Japan and the US, the yen broke through resistance to appreciate as much as 0.7% to 139.90 per dollar. That was its strongest level since September and made it the best performer among Group-of-10 currencies on Tuesday. President Donald Trump’s trade war has boosted...

US President Donald Trump may have hit the pause on his trade vacillations, but there seems to be a lingering deleterious effect on the American Dollar, which has slumped sharply. Reason: waning confidence in the American economy is leading to a huge flight out of the greenback to other safe haven currencies and gold. This is reflective of a breakdown of a fundamental assumption underpinning global finance – that when there are serious bouts of volatility in the forex markets and a spike in the VIX (volatility index), it normally...

US dollars and Treasurys are selling off as President Donald Trump's trade war increases risk for American assets.Investors are uneasy about Trump's policy changes and moving their money from US assets to classic safe havens.The euro has hit a three-year high against the dollar, benefiting from the 'Sell America' trend.Dollar and Treasurys are selling off on Friday as President Donald Trump's trade war ratchets up the risk for American assets.The US Dollar Index — which measures the greenback against a basket of major currencies — fell below the key 100...

US President Donald Trump may have hit the pause on his trade vacillations, but there seems to be a lingering deleterious effect on the American Dollar, which has slumped sharply. Reason: waning confidence in the American economy is leading to a huge flight out of the greenback to other safe haven currencies and gold. This is reflective of a breakdown of a fundamental assumption underpinning global finance – that when there are serious bouts of volatility in the forex markets and a spike in the VIX (volatility index), it normally...

According to RBI data, forex reserves have increased cumulatively by $20.1 billion over the past three weeks and by about $6.6 billion in the latest reporting week In a significant development, India's foreign exchange reserves rose from $6.596 billion to $665.396 billion in the week that ended on March 28, extending gains for the fourth straight week, official data released by RBI showed.This significant jump is the highest in nearly five months, after witnessing a period of downturn.According to RBI data, forex reserves have increased cumulatively by $20.1 billion over...