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Currency News

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.

Big investment in cryptocurrency startup Altcoin.io

Startup Altcoin.io, a decentralized cryptocurrency exchange located in San Diego, has announced it has secured $1 million of funding via crowdfunding service WeFunder.

Argentina's interest rate hiked to 60% to counter currency woes

Buenos Aires - Argentina's Central Bank announced Thursday it has raised its benchmark interest rate from 45 to 60 percent in a bid to arrest a slide in the value of its currency.

Swiss banker pleads guilty in $1.2 bn Venezuelan laundering scam

Miami - A former Swiss bank manager pleaded guilty in a US court on Wednesday for his role in a $1.2 billion money laundering scheme involving Venezuelan state oil company PDVSA, the Justice Department announced.

Swiss banker pleads guilty in $1.2 bn Venezuelan laundering scam

Miami - A former Swiss bank manager pleaded guilty in a US court on Wednesday for his role in a $1.2 billion money laundering scheme involving Venezuelan state oil company PDVSA, the Justice Department announced.

Venezuelan business leaders lambast Maduro's new banknotes

Caracas - New banknotes stripped of five zeros entered circulation in Venezuela on Monday as part of President Nicolas Maduro's radical plan to curb hyperinflation, but business leaders branded the move as counterproductive.The country appeared paralyzed.

Venezuela on edge as Maduro unveils raft of economic reforms

Caracas - Uncertainty reigned in Venezuela on Saturday after President Nicolas Maduro unveiled a major economic reform plan aimed at halting the spiraling hyperinflation that has thrown the oil-rich, cash-poor South American country into chaos.

Venezuela relaunches currency, analysts warn of worsened crisis

Caracas - Venezuela will start issuing new banknotes on Monday after slashing five zeroes off the crippled bolivar, but analysts warn the measure will do nothing to stop a worsening economic crisis.

Turkey lira crisis highlights emerging currencies plight

Paris - Much of the Turkish lira's plight may be homegrown, but it shares some key vulnerabilities with other emerging countries whose currencies are now also plunging as fear of contagion spreads, analysts say.

Russia vows to retaliate against new US sanctions

Moscow - The Kremlin on Thursday vowed to retaliate against "unacceptable" new US sanctions against Russia over its alleged role in a nerve agent attack on a former spy in Britain, which prompted the ruble and Russian stocks to tumble.

Iran forex chief arrested in tense build-up to sanctions return

Tehran - The Iranian central bank's top foreign exchange official has been arrested, the judiciary said Sunday, as tensions rise ahead of the imminent return of US sanctions.

Venezuela loosens grip on currency in bid to ease crisis

Caracas - Venezuela's government on Thursday loosened the tight currency controls it first put in place 15 years ago, in a bid to attract foreign investment and ease a four-year recession that has led to economic collapse.

Venezuela loosens grip on currency controls: official

Caracas - Venezuela's government loosened Thursday the tight currency controls it first put in place 15 years ago, with the pro-government Constituent Assembly announcing the passage of a decree authorizing money exchange operations.

Turkey lira slumps to record lows over US sanctions

Ankara - The Turkish lira on Wednesday slumped to record lows of 5.0 against the dollar as the US hit Turkey's justice and interior ministers with sanctions over the case of an American pastor on trial for terror-related charges.The lira lost over 1.

Iran's currency crisis triggers corruption crackdown

Tehran - With its currency plummeting ahead of the reimposition of US sanctions, Iran has responded with dozens of arrests and claims of an enemy conspiracy, but also signs of a push to confront corruption.

IMF warns excess trade surpluses aggravate tensions

Washington - As trade frictions mount among the world's major economies, the International Monetary Fund warned Tuesday that large trade surpluses in Germany and China together with the large US deficit could exacerbate that conflict.

Q&A: How the public will come to accept cryptocurrency Special

Dr. Nick Almond, a professor in the U.K., believes that the adoption and acceptance of cryptocurrency will come through a crypto lottery. He explains why would the game that is as old as time will help crypto become accepted.

New Coinsquare API lets businesses offer digital currency trading

One of Canada's biggest digital currency trading platforms Coinsquare recently announced the launch of Coinsquare Licensing, a sector of Coinsquare that offers digital currency trading platforms for businesses.

Mexican peso, stocks fall as leftist wins presidency

Mexico - The Mexican peso and stock market both fell Monday after the country elected the anti-establishment leftist Andres Manuel Lopez Obrador as its next president.

IMF greenlights three-year $50 bn Argentina aid program

Washington - The International Monetary Fund on Wednesday formally approved a $50 billion aid package intended to help Argentina confront inflation, budget deficits and a weakening currency.

Argentina seeks to reassure markets after peso crisis

Buenos Aires - Argentina sought to inject some confidence back into its beleaguered currency and calm markets on Friday after the peso plunged more than 6.0 percent against the dollar, leaving it at a record low.
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401(K)
TTC charges 10% surcharge to US visitors on transit
TTC charges 10% surcharge to US visitors on transit
Japan faces a severe debt crisis that is worth twice the amount of their $5 trillion GDP.
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At the state level lawmakers are embracing Bitcoin and other digital currencies.
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Australian currency
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China wants to establish a vast Asian free-trade area
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Canadian currency from 1933 to 1935
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The Euro sign outside the European Central Bank in Frankfurt, Germany
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The £5 note featuring Winston Churchill will be the first plastic banknote in the U.K.
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Canadian currency (file photo)
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A Canadian Quarter