archiveforeign currency

Mumbai: India's foreign exchange reserves rose for the eighth straight week to touch $688.13 billion as of April 25, according to the latest RBI data released on Friday. The foreign exchange kitty surged by $1.98 billion during the week. The foreign currency component of the reserves increased by $2.17 billion to $580.66 billion. The gold reserves component of the forex reserves decreased by $207 million to $84.37 billion while Special Drawing Rights (SDR) went up by $21 million to $18.59 billion. The declining trend in forex reserves of earlier months...

Iran’s rial currency traded Saturday at a record low against the U.S. dollar as the country returned to work after a long holiday, costing over 1 million rials for a single greenback as tensions between Tehran and Washington likely will push it even lower. The exchange rate had plunged to over 1 million rials during the Persian New Year, Nowruz, as currency shops closed and only informal trading took place on the streets, creating additional pressure on the market. But as traders resumed work Saturday, the rate fell even further to 1,043,000...

Alden Bentley, Harry Robertson and Ankur Banerjee  |  ReutersTrump doubles tariffs on China; China retaliates with tariffs on US goodsUnited States President Donald Trump doubled the tariff on Chinese imports, bringing that rate to 20%. China retaliated by announcing 15% tariffs on various imports from the US.Fox - SeattleThe dollar fell to a three-month low on Tuesday as concerns about slowing growth and the impact from tariffs on the U.S. economy outweighed any potential boost from new levies on Canada, China and Mexico.President Donald Trump's 25% tariffs on goods from Canada and Mexico took effect Tuesday, along with a doubling of duties on Chinese goods to 20%.In response, China said it will...