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Currency News

Group behind Facebook's Libra coin announces 21 founding members

Geneva - The Libra Association, created by Facebook to launch its new cryptocurrency, has announced its 21 founding members after defections by previous supporters including Visa and Mastercard.

Lebanon gas stations to go on strike over dollar 'shortage'

Beirut - Lebanese gas station owners on Thursday announced an immediate and open-ended strike, saying a shortage in dollar reserves has made it difficult to pay suppliers, a syndicate spokesman said.

Argentine peso drops on volatile day as IMF visits

Buenos Aires - Argentina's peso depreciated by almost 2.5 percent against the dollar on Tuesday, a day after the International Monetary Fund met with presidential election frontrunner Alberto Fernandez.

Argentine peso halts slide, closes up more than 4%

Buenos Aires - Argentina's peso halted its slide Thursday, closing up more than four percent following three days of sharp declines as President Mauricio Macri grappled with a crushing political defeat. The rebound, which left the peso at 59.

Argentine peso rebounds after presidential rivals call for calm

Buenos Aires - Argentina's peso regained 7.41 percent of its value against the dollar as markets opened on Thursday following three days of sharp declines as President Mauricio Macri grappled with a crushing political defeat.The rebound, which left the peso at 57.

Argentine peso on roller coaster after Macri defeat

Buenos Aires - Argentina's peso slipped further against the dollar Tuesday while the stock market partially recovered as South America's third-largest economy continued to take a pummeling in the wake of pro-business President Mauricio Macri's crushing defeat in part...

Argentine peso on roller coaster after Macri defeat

Buenos Aires - Argentina's peso slipped further against the dollar Tuesday while the stock market partially recovered as South America's third-largest economy continued to take a pummeling in the wake of pro-business President Mauricio Macri's crushing defeat in part...

Macri predicts worse to come as Argentine peso, stock exchange plunge

Buenos Aires - Pro-business President Mauricio Macri predicted worse would follow after Argentina's peso and the Buenos Aires stock exchange plummeted Monday following his crushing defeat by populist candidate Alberto Fernandez in a party primary election.

Chinese currency steadies after turbulent trading

Bejing - The Chinese currency steadied on Tuesday, a day after Beijing let the yuan weaken against the dollar, sending markets into freefall and leading the US to formally designate China a "currency manipulator".

Facebook's Libra money a threat and far from ready: G7

Vineuil-saint-firmin - A threat to the international financial system. Not ready to be implemented. A potentially shadowy mechanism that could be exploited by criminals.

Europe wary as Facebook takes up cryptocurrency challenge

Paris - European financial leaders on Tuesday vowed vigilance after Facebook announced it was diving into the cryptocurrency market, as analysts warned the social media giant could face major regulatory questions.

How cryptocurrencies can replace other pay options

San Francisco - Cryptocurrencies live in a volatile, roller-coaster world, which Facebook is seeking to change with its new Libra digital money.

Facebook takes on the world of cryptocurrency with 'Libra' coin

San Francisco - Facebook unveiled plans Tuesday for a new global cryptocurrency called Libra, pledging to deliver a stable virtual money that lives on smartphones and could bring over a billion "unbanked" people into the financial system.

Karpeles: Bitcoin baron brought down with a bump

Apo - Once described as a geek who stuffed himself with snacks in front of his computer, Mark Karpeles rose to head a firm that once claimed to handle 80 percent of the world's bitcoin transactions.

MtGox 'bitcoin baron' gets suspended sentence for data tampering

Apo - A Japanese court on Friday sentenced the former high-flying boss of the MtGox bitcoin exchange to a suspended jail sentence of two and a half years after finding him guilty of data manipulation.

MtGox bitcoin founder learns fate on embezzlement charges

Apo - A Japanese court Friday hands down a verdict in the embezzlement trial of Mark Karpeles, the former high-flying creator of the MtGox bitcoin exchange, whose collapse sparked a crisis for the cryptocurrency.

China's currency becomes key issue in US trade talks

Paris - US officials have said any trade deal with China will include a provision to prevent manipulation of the exchange rate to help exporters but Beijing's currency regime reflects a complex reality.

Venezuela devalues currency to align it with black market

Caracas - Venezuela devalued its currency by almost 35 percent on Monday to bring it into line with the exchange rate of the dollar on the black market.The exchange rate is now fixed at 3,200 bolivars to the dollar, almost matching the 3,118.

Incoming EU president Romania aims to join euro 'by 2024'

Bucharest - Romania hopes to adopt the euro "by 2024" and wants to use its forthcoming EU presidency to reduce tensions between the bloc's eastern and western members, Prime Minister Viorica Dancila said Wednesday.

India's rupee slides as central bank chief quits

Mumbai - India's rupee plunged on Tuesday after the country's central bank chief quit following a dispute with the government that analysts say raises fears about its independence.

Putin says Russia ditching dollar in sanctions response

Moscow - President Vladimir Putin said Wednesday that Russia had no choice but to cut its dependency on dollars to conduct trade, after becoming the target of increasingly severe US sanctions.

Russia seeks to dump dollar as new US sanctions loom

Moscow - Moscow is intensifying efforts to wean its economy off the dollar as Washington considers tough new sanctions that could deny Russia access to foreign debt markets and cut its banks from the greenback.

Rolling in euskos: French Basques' thriving currency

Bayonne - Nipping out to buy a cup of coffee or some bread? These days in France's Basque region it may well be euskos, not euros, that you reach for in your wallet.

China not manipulating currency but lacks transparency, US says

Washington - Washington on Wednesday again declined to call China a currency manipulator but said the yuan's fall and Beijing's exchange practices were of "particular concern.

US Treasury secretary remains concerned about weak China currency

Washington - US Treasury Secretary Steven Mnuchin said Friday he had told the head of China's central bank about his concerns over the weakness of China's currency.

Brazilian real hits highest rate against dollar in five weeks

S - Brazil's currency dipped under four reals to the dollar for the first time in five weeks at close on Thursday as the markets reacted favorably to the emergence of two clear presidential election frontrunners.The real closed at 3.

BIS warns global economy risks crisis 'relapse'

Zurich - The Bank of International Settlements said Sunday the global economy risked a "relapse" of the crisis that rocked it a decade ago, warning there was little "medicine" left to treat the patient a second time.

Argentina's currency crisis a boon for foreign tourists

Buenos Aires - Argentines may be feeling the pinch of their country's economic woes, but for tourists, the troubled peso is proving a holiday boon.

Brazilian real closes at record 4.197 to the dollar amid election jitters

S - Brazil's currency closed at a record low of 4.197 to the dollar on Thursday amid uncertainty and unpredictability surrounding next month's presidential elections.The previous record of 4.

Battered Argentine peso hit by new fall

Buenos Aires - Argentina's beleaguered currency passed a symbolic barrier on Thursday, reaching a mark of more than 40 to the dollar amid a crisis in investor confidence.The peso lost 2.88 percent to close at 40.24 -- down 6.
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The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
At the state level lawmakers are embracing Bitcoin and other digital currencies.
At the state level lawmakers are embracing Bitcoin and other digital currencies.
Web-dev-chris (CC0 1.0)
€1 coin
€1 coin
€1 coin
TTC charges 10% surcharge to US visitors on transit
TTC charges 10% surcharge to US visitors on transit
Stacks of pennies were part of an unusual refund.
Stacks of pennies were part of an unusual refund.
slgckgc
Untitled
Lionel Allorge
China wants to establish a vast Asian free-trade area
China wants to establish a vast Asian free-trade area
Teh Eng Koon, AFP/File
Canadian currency from 1933 to 1935
Canadian currency from 1933 to 1935
The £5 note featuring Winston Churchill will be the first plastic banknote in the U.K.
The £5 note featuring Winston Churchill will be the first plastic banknote in the U.K.
Bank of England
France uses Euros but it is probably easier for most of us to understand the tax as being a penny eq...
France uses Euros but it is probably easier for most of us to understand the tax as being a penny equivalent.
TDBYC
Australian currency
Australian currency
Whit Andrews/Flickr
A Canadian Quarter
A Canadian Quarter
British Chancellor of the Exchequer George Osborne (R) has claimed the economy would shrink by 6% by...
British Chancellor of the Exchequer George Osborne (R) has claimed the economy would shrink by 6% by 2030 in the event of a Brexit, costing every household the equivalent of £4,300 a year
Matt Cardy, Pool/AFP/File
Canadian currency (file photo)
Canadian currency (file photo)
Canadian currency
Canadian currency
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A Canadian Quarter
A Canadian Quarter
Japan faces a severe debt crisis that is worth twice the amount of their $5 trillion GDP.
Japan faces a severe debt crisis that is worth twice the amount of their $5 trillion GDP.
Bank of Japan
Untitled
401(K)

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