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Currency News

Secret 'parallel' money plan clouds start of Greek bailout talks

Atenas - The Greek government and its international creditors began work on a mammoth new bailout Monday overshadowed by revelations that Greece's ex-finance minister Yanis Varoufakis had been secretly planning for a parallel system of liquidity.

'Grexit' or not, Greece will find kicking euro habit hard

Paris - No matter what the political outcome of the current Greek debt crisis, in practical terms Greece will find it very difficult to turn its back on the euro.

ISIS has its own currency

The Islamic State (ISIS) apparently has its own minted currency. At least that is what a series of photos that have been making rounds online suggests.

EU should prepare for Greece default, German official says

Berlin - European Union nations should prepare for Greece's expected default and departure from the common currency, a German official said Monday.

Zimbabwe's new exchange rate: $5 for 175 quadrillion local ones

Zimbabwe has announced it will be phasing out its own local currency in favour of the US dollar. The Zimbabwean dollar has been subject to hyperinflation of up to 500,000,000,000 percent so that locals will get $5 USD for 175 quadrillion local dollars.

Latest uTorrent uses your CPU to mine bitcoins

One of the world's most popular torrent downloaders, uTorrent, has been revealed as attempting to install a resource-hogging Bitcoin miner along with itself, slowing your PC to a crawl as it runs in the background.

$386m missing as Hong Kong Bitcoin exchange closes

Over $386 million has allegedly been stolen by Hong Kong-based Bitcoin exchange MyCoin as it closed down this week, leading to claims that the company is withdrawing funds owed to over 3,000 investors.

Lithuania joins eurozone to seal ties with West

Vilnius - Lithuania switched over to the euro on Thursday, becoming the last Baltic nation to adopt Europe's single currency in a bid to boost stability despite fears of inflation and eurozone debt woes.

Google now recognizes Bitcoin calculations in conversion searches

Google has added direct support for converting to and from the Bitcoin crypto-currency into its search engine, making it easier than ever to view the current price of Bitcoin.

Bitcoin debit card nearly a reality

The first ever debit card to allow the transaction of Bitcoins in stores is set to hit the US market very soon, facilitating the usage of Bitcoin in more traditional, everyday scenarios where currency is used.

Glimmerings of growth in Greece

According to the Foundation for Economic and Industrial Research, or IOBE, Greece’s economy is slated to stabilize this year and may possibly achieve some small growth based on projections.

ECB's Draghi: the strong euro could require policy action

Washington - European Central Bank chief Mario Draghi said Saturday that the bank may need to take action to stem the rising euro."The strengthening of the exchange rate would require monetary stimulus" as long as interest rates are already extremely low, he said.

Deutsche Bank manager suspended in forex probe

Frankfurt - Deutsche Bank, Germany's biggest lender, has suspended a top saleswoman in an investigation into suspected foreign exchange rate manipulation, the Wall Street Journal reported on Thursday.

BoJ chief doubts Bitcoin's future as a currency

Tokyo - The head of the Bank of Japan on Tuesday cast doubt on Bitcoin's future, saying the scandal-plagued digital unit "cannot be a currency" unless it proves its reliability.

Switzerland probes top banks for currency manipulation

Z - Switzerland said Monday it was investigating a range of banks, including domestic leaders UBS and Credit Suisse along with top global houses, over suspicions they manipulated currency markets.

Britain, China sign yuan trading deal

London - Britain and China have signed a deal for the first clearing service for yuan trading outside of Asia, the government here said Wednesday.The move would make yuan, or renminbi, transactions in London's financial centre more efficient and quicker.Britain...

China's yuan falls to nearly 13-month dollar low

Shanghai - China's yuan weakened against the US dollar on Thursday to its lowest level in nearly 13 months, but analysts said it would help authorities control speculative funds betting on continued rises of the currency.The yuan fell to an intraday low of 6.2334...

Govt announces plans to introduce 12-sided £1 coin

London - A new 12-sided £1 coin, said by the Royal Mint to be "the most secure coin in circulation" is to be introduced in an effort to curb counterfeiting, under government plans announced Wednesday.The new bi-metallic, two-coloured coin will have the same sh...

China widens yuan daily trading band to 2%: central bank

Beijing - China will widen the yuan's daily trading band to two percent from the current one percent, the central bank announced Saturday, underscoring efforts to loosen Beijing's grip on its tightly-controlled currency.The move will take effect on March 17, the...

Ruble falls sharply in value against euro amid Crimea tension

Moscow - The Russian ruble on Thursday fell sharply in value against the euro after Crimea's pro-Russia authorities announced they wanted to join Russia and international talks failed to reach consensus.The ruble lost value to trade 50.06 rubles to the euro at ...

Were you 'goxed'? Might want to add this term to your vocabulary

Bitcoin experienced a significant rise, and now an even faster fall. One of the world's largest exchange for bitcoins was shut down and now filed for bankruptcy.

China yuan ends at eight-month low against dollar

Shanghai - China's yuan currency fell nearly one percent against the US dollar in intraday trade Friday, its biggest drop in years, before recovering some ground but still closing at an eight-month low.The currency has fallen repeatedly in the last two weeks with...

China yuan tops Swiss franc in payments currency rank

- China's yuan has overtaken the Swiss franc to become the seventh most-used currency for payments worldwide, a global transaction services organisation said, as Beijing seeks to further internationalise the unit.The yuan still lags behind the US dollar ...

S.Korea, Australia sign $4.5 bln currency swap deal

Seoul - South Korea and Australia signed Sunday a currency swap deal worth $4.5 billion, Seoul's central bank said, in a move to boost trades and help curb currency swings.The deal -- signed by the countries' central bank governors -- allows the two nations to...

UK seeking to boost yuan trading role: Osborne

Hong Kong - Britain is holding talks with China to designate a London clearing bank for the yuan as it tries to become the world's leading centre for trading the currency, Chancellor George Osborne said Thursday.China's currency, also called the renminbi (RMB), is...

Winklevosses make their own Bitcoin index

Washington - Early Bitcoin investors Cameron and Tyler Winklevoss have created their own index of the virtual currency, as they gear up to launch the first publicly traded US Bitcoin fund.Announced in a regulatory filing Wednesday, The Winklevoss Index -- Winkdex -...

China launches cross-border yuan payment services in FTZ

Shanghai - China has launched yuan-denominated cross-border payment services in its first free trade zone (FTZ), the central bank said, in an effort to facilitate trade and further internationalisation of the Chinese currency.Five companies -- AllinPay, 99Bill, C...

Kazakhstan breaks up protest against devaluation

Almaty - Kazakh police on Saturday detained protesters at an unsanctioned rally in Almaty against the devaluation of the national currency, the Interfax-Kazakhstan news agency reported.Around 50 protesters gathered on the main Republic Square in Almaty for a ra...

Russia economy chief says dire 2013 was 'low point'

Moscow - Russia's economy chief said on Friday that the country had survived the worst of its sharp growth slowdown and was now on the path toward a cautious recovery.But new data revision showed the $1.9-trillion (1.

Argentina powerless in the face of peso fall

Buenos Aires - Argentina appears powerless in the face of the hemorrhage of the peso, as the central bank reported Thursday it had burned through $2.1 billion in reserves in January alone.
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Currency Image

Canadian currency from 1933 to 1935
Canadian currency from 1933 to 1935
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
A Canadian Quarter
A Canadian Quarter
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.
A Canadian Quarter
A Canadian Quarter
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.
The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
Canadian currency
Canadian currency
€1 coin
€1 coin
€1 coin
Lionel Allorge
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
Canadian currency (file photo)
Canadian currency (file photo)
Photo by Darren Hester
At the state level lawmakers are embracing Bitcoin and other digital currencies.
At the state level lawmakers are embracing Bitcoin and other digital currencies.