Devaluation of Currency

The Currency devaluation is the deliberate reduction in the value of a country’s currency against another currency. It is used by monetary authorities when they need to improve the country’s trade balance by increasing exports if and when the trade ..

Usha Thorat heads RBI task force on Offshore Rupee Markets

The RBI task force on Offshore Rupee Markets (ORM), headed by Usha Thorat, has suggested liberal currency market for offshore users. The panel recommended that onshore market hours may be suitably extended to match the flexibility provided by the offshore ..

US labels China a Currency Manipulator

The US has declared that China as a currency manipulator. The move could further fuel the ongoing trade war between the two countries. The US has alleged that China’s Central Bank is pushing for depreciation of Yuan as retaliation for ..

United States designates China as currency manipulator

The United States has designated China a “currency manipulator”, following the devaluation of the Yuan. The move could escalate the tense trade relations between the two nations. The US action came after China allowed its yuan to weaken past the ..

Switzerland removed from US currency watchlist

The Trump administration has recently removed India and Switzerland from its currency monitoring list of major trading partners. Both the countries were removed from the list because for two consecutive reports they had both met only one of three criteria ..

RBI to issue new 20 Rupees denomination Banknotes

The Reserve Bank of India is all set to issue new ?20 denomination banknotes in the Mahatma Gandhi (New) Series. The new note bears the signature of Shri Shaktikanta Das, Governor of RBI. The ?20 note is greenish-yellow in colour ..

Ellora Caves motif of greenish-yellow Rs 20 denomination banknotes

The Reserve Bank of India (RBI) has recently announced that it will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi (New) Series. The new denomination has motif of Ellora Caves on the reverse that depicts the country’s cultural ..

Ontario: First town to pay taxes with Bitcoins

The Ontario town can launched a pilot program in which the local residents can pay their taxes in crypto currency. Reidents of Ohio, USA were the first to to pay taxes in Bitcoins. The Candian citizens in Ontario will pay ..

Rupee depreciates by 12 paise to 68.98 against US Dollar

The rupee is depreciated by 12 paise to 68.98 against the US dollar in early trade today on increased demand for the US currency from importers and rising crude prices. Yesterday, the rupee had appreciated by 10 paise to end ..

Usha Thorat head of RBI task force on offshore rupee markets

The Reserve Bank of India (RBI) has recently constituted an 8-member task force headed by its former deputy governor Usha Thorat to examine issues related to offshore rupee markets and recommend policy measures to ensure the stability of the external ..