India's Forex reserves surge by over $4 bn

India's foreign exchange (Forex) reserves rose by over $4 billion as on May 19, 2017.

The Reserve Bank of India's (RBI) weekly statistical supplement released on Friday showed that the overall Forex reserves increased by $4.03 billion to $379.31 billion from $375.27 billion reported for the week ended May 12.

India's Forex reserves comprise of foreign currency as

Pound suffers biggest one-day fall since January as Conservative lead slides

By Patrick Graham and Vikram Subhedar

LONDON - Sterling suffered its steepest fall since January on Friday after an opinion poll showed the governing Conservatives' lead over the Labour opposition down to just 5 percentage points less than two weeks before a parliamentary election.

The pound sank against the euro and by more than 1 percentage point again

Sterling retreats after Manchester blast, euro steady, stocks advance

By Nichola Saminather

SINGAPORE  - Sterling slipped on Tuesday after a suspected suicide attack killed at least 22 people and wounded 59 at a pop concert in the English city of Manchester, while the euro held gains made after German Chancellor Angela Merkel said it was "too weak".

Despite the explosion, at a concert by U.S. singer Ariana Grand

Asian currencies firm as soft U.S. manufacturing data dents dollar

By Shashwat Pradhan

Most Asian currencies climbed on Tuesday as the dollar came under pressure after a weak U.S. manufacturing report trimmed expectations of a U.S. rate increase next month, a key factor behind the dollar's gains in recent weeks.

The New York Federal Reserve said on Monday its barometer on business activity in New York state unexpectedly fell in May, sin

Asian currencies brush aside concerns over cyber attack, North Korea threats

By Shashwat Pradhan

Most Asian currencies edged up against the dollar on Monday, shrugging off threats from a ransomware attack that locked up more than 200,000 computers in more than 150 countries, and a missile test by North Korea.

The weekend cyber attack, which slowed down after a security researcher stumbled on a way to at least temporarily limit the worm's spread,

Rupee slips 23 paise to 64.70 on strong dollar demand

The Indian Rupee fell sharply against the greenback on Tuesday amid sustained fund outflows by foreign funds and importers due to strong demand for the American currency.

At the Interbank Foreign Exchange Market, the local currency was trading 23 paise lower at 64.70 per dollar against the previous close of 64.47 at 13:00 hour. During the day’s trade so far, the rupee touched an

China April FX reserves rise, remain above $3 trillion

BEIJING - China's foreign exchange reserves rose in April for a third straight month, beating market expectations, as capital control measures and a pause in the dollar's rally helped staunch capital outflows.

The April rise is reassuring news for policymakers after the yuan steadied as U.S. President Donald Trump backed away from labelling China a curren

China forex chief says no intention of competitive currency devaluation

BEIJING - China has no intention and no need to carry out competitive currency devaluations, the head of the country's foreign exchange regulator said.

In a weekend piece in the Chinese magazine Modern Bankers, Pan Gongsheng said the People's Bank of China's supplying of liquidity to the market was to prevent excessive fluctuations of the exchange rate and

Analysis - Sterling's election-led bounce breaks developing spiral

By Jamie McGeever

LONDON - The lift to sterling given by the prospect of a snap British election next month has, at least temporarily, broken a vicious circle of rapidly rising inflation that threatened to further undermine the economy and paint the central bank into a corner.

The currency's steep fall since June's Brexit referendum has aggravated in

Rupee strengthens by 08 paise to 64.36 against dollar

The Indian Rupee were trading higher against the greenback on Wednesday amid sustained selling of dollar by banks and exporters, while continued fund inflows by foreign portfolio investors boosted rupee’s movement.

However, muted trend at domestic equity market restricted day’s gain. At the Interbank Foreign Exchange Market, the local currency was up by 08 per cent to trad

China will step up checks on trade, investment in 2017

BEIJING - China will boost authenticity and compliance checks on trade and investment this year, its forex regulator said on Wednesday, and increase checks and punishment on illegal forex activities.

It also expects a surplus in the country's current account and a deficit in capital and financial accounts for 2017, the State Administration of Foreign Exchange (SAF

Chinese yuan, Indian rupee forecast to fall over coming year: Reuters poll

BENGALURU  - The Chinese yuan and Indian rupee are expected to weaken against the dollar over the coming year, a Reuters poll found, with the greenback supported by U.S. interest rate hikes, though analysts have trimmed their bearish bets on Asian currencies from the previous poll.

While markets do not expect the Federal Reserve to raise interest rates at its pol

Rupee traders higher against greenback

The Indian Rupee were trading higher with marginal gain against the greenback on Tuesday amid sustained selling of dollar by banks and exporters, while continued fund inflows by foreign portfolio investors boosted rupee’s movement. However, muted trend at domestic equity market restricted day’s gain.

At the Interbank Foreign Exchange Market, the local currency was up by 11

Bitcoin soars above $1,400 to all-time high

LONDON - Bitcoin surged to an all-time high above $1,400 on Tuesday, after more than tripling in value over the past year, with its most recent rise attributed to strong demand in Japan, where the digital currency has been deemed a legal means of payment.

Cryptocompare, a data website that analyses bitcoin trading across dozens of exchanges globally, said around 50 pe

U.S. first-quarter growth weakest in three years as consumer spending falters

WASHINGTON - The U.S. economy grew at its weakest pace in three years in the first quarter as consumer spending almost stalled, but a surge in business investment and wage growth suggested activity would regain momentum as the year progresses.

The soft patch at the start of the year is bad news for the Trump administration's ambitions to significantly boost growth

Profit-taking trips up Asian stocks, Korean won slips on Trump trade threat

SINGAPORE  - Asian stocks slipped on Friday as investors took profits after a strong week, while the Korean won weakened after U.S. President Donald Trump said he would renegotiate or terminate a trade deal with South Korea.

Britain's FTSE 100, Germany's DAX and France's CAC 40 are all poised for a flat start, according to spreadbetter CMC Markets, af

Euro zone economic sentiment rises to near 10-year high

BRUSSELS  - Euro zone economic sentiment climbed to a near 10-year high in April against expectations of almost no change as confidence in all sectors improved and inflation expectations dampened, EU data showed on Thursday.

The European Commission's monthly survey produced an overall index for the 19-country currency bloc of 109.6 from 108.0 in March, the hi

Rupee edges higher against US dollar

The Indian Rupee were trading higher with marginal gain against the greenback on Thursday amid sustained selling of dollar by banks and exporters, while continued fund inflows by foreign portfolio investors also boosted rupee’s movement. In the early trade, the rupee gained 14 paise to hit fresh high of 64.23 against the dollar.

The home currency was also supported by weakness i

Singapore launches $717 million fund to help intellectual property firms

SINGAPORE  - Singapore on Wednesday launched a S$1 billion ($717.31 million) fund to invest in companies with strong intellectual property profiles as part of a government push to establish the city-state as a global IP centre.

The Makara Innovation Fund (MIF), a partnership between the Intellectual Property Office of Singapore and local private equity firm Makar

Donald Trump tax plan will sharply slash corporate tax rates

WASHINGTON  - U.S. President Donald Trump is proposing to slash the corporate income tax rate and offer multinational businesses a steep tax break on overseas profits brought into the United States, officials said late on Tuesday.

With financial markets eagerly anticipating a White House tax plan, Trump will also call for a sharp cut in the top rate on pass-throu

Rupee continues gaining spree; rises 21 paise against dollar

The Indian rupee extended rally against the greenback on Tuesday amid persistent selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted rupee movement.

The home currency was also supported by weak dollar overseas and firmness in equity market. At the Interbank Foreign Exchange Market, the local currency was up by 21 per cent

Asian currencies rise as French vote relief boosts risk sentiment

Most emerging Asian currencies rose against the U.S. dollar on Tuesday as continued relief from the outcome of the first phase of French elections supported appetite for assets such as stocks and developing market foreign exchange.

In Asia, ringgit and rupiah moved higher after they reopened following market holidays. The ringgit was the region's top gainer, hitting a five-month p

Euro volatility collapses as Le Pen fears evaporate

LONDON (Reuters) - Market measures of expected volatility of the euro sank on Monday, pointing to a collapse in bets on a market shock from the second round of French presidential elections in two weeks' time.

One-month volatility euro-dollar implied volatility - an options market measure of expected swings in the currency over the next month - fell to its lowest in almost three w

Rupee surges 13 paise to 64.50 against greenback

The Indian Rupee were trading higher against the greenback on Monday amid fresh selling of dollar by banks and exporters, while sustained fund inflows by foreign portfolio investors also boosted rupee movement.

The home currency was also supported by weak dollar and firmness in equity market. At the Interbank Foreign Exchange Market, the local currency was up by 13 per cent to trade a

Turkish economic weakness exposed in post-referendum data

ISTANBUL - Turkish unemployment hit a seven-year peak in early 2017 while the budget deficit rose, data showed on Monday, underlining the economic challenges facing the country a day after its social divisions were laid bare in a referendum.

Turks narrowly voted on Sunday in favour of constitutional changes granting sweeping powers to President Tayyip Erdogan. He has