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Currency News

Anger rises after India scraps old notes at petrol pumps

New Delhi - India said old notes would no longer be accepted at petrol stations after Friday, fuelling anger over the scrapping of high denomination bills that has caused an unprecedented cash crunch.

Anger rises after India scraps old notes at petrol pumps

New Delhi - India said old notes would no longer be accepted at petrol stations after Friday, fuelling anger over the scrapping of high denomination bills that has caused an unprecedented cash crunch.

Anger rises after India scraps old notes at petrol pumps

New Delhi - India said old notes would no longer be accepted at petrol stations after Friday, fuelling anger over the scrapping of high denomination bills that has caused an unprecedented cash crunch.

Vegans react against new U.K. bank note

London - The U.K. recently launched a new bank note, valued at £5. The note is smaller and plastic based, replacing the old paper note. Vegans and religious groups have reacted angrily due to the note containing animal products.

India eases cash rules for weddings

New Delhi - India announced new measures Thursday to allow farmers and marrying couples to withdraw more money from banks, as frustration mounted over a cash crisis triggered by the withdrawal of all high-value notes.

India to use indelible ink to stop repeat cash exchanges

New Delhi - India is to use indelible ink to prevent people from exchanging old notes more than once, the government said Tuesday, a week after the withdrawal of high-value banknotes from circulation in a crackdown on "black money".

Modi promises to ease India cash crunch

New Delhi - Prime Minister Narendra Modi on Monday urged Indians to give him more time to resolve a cash crisis that followed the withdrawal of high-value notes, insisting the shock move would benefit the poor in the long run.

India's Modi urges patience on bill swap amid cash crunch

New Delhi - Prime Minister Narendra Modi Sunday made an emotional appeal to people to make India graft-free, as chaotic scenes erupted outside banks nationwide after high denomination notes were pulled from circulation.

India ATM reset to take 'weeks': minister

New Delhi - India's cash machines will take several weeks to reset with new bills, India's finance minister said Saturday, as public anger mounted over a decision to pull the highest denomination notes from circulation.

India banks reopen to long queues after rupee withdrawal

New Delhi - Long queues formed outside banks in India on Thursday as they reopened for the first time since the government's shock decision to withdraw the two largest denomination notes from circulation.

India tries to stem panic after shock rupee withdrawal

New Delhi - India's government tried to quell the panic Wednesday caused by a bombshell decision to withdraw 500 and 1,000 rupee notes from circulation after cash machines ran dry and shares slid.

India tries to stem panic after shock rupee withdrawal

New Delhi - India's government tried to quell the panic Wednesday caused by a bombshell decision to withdraw 500 and 1,000 rupee notes from circulation after cash machines ran dry and shares slid.

India tries to stem panic after shock rupee withdrawal

New Delhi - India's government tried to quell the panic Wednesday caused by a bombshell decision to withdraw 500 and 1,000 rupee notes from circulation after cash machines ran dry and shares slid.

Hackers steal $65 million in Bitcoins in huge exchange heist

Hackers have stolen over $65 million in Bitcoins from a major cryptocurrency exchange. BitFenix, one of the largest operating Bitcoin exchanges, has had to suspend its marketplace in the wake of the major cyberattack and Bitcoin's value has fallen.

Oil-rich Venezuela scrabbles for dollars

Caracas - Julio Ribas suffers from high blood pressure. If only Venezuela's currency were as high, he might be able to afford some medicine for it.

Plastic banknotes being implemented in U.K.

London - After centuries of paper-based bank notes, the U.K. will gradually introduce plastic notes. This begins in September 2016 with the £5 note. The notes are designed to be cleaner and stronger.

Flowing Hair Silver Dollar is the most expensive coin

London - The "Amon Carter" Flowing Hair Silver Dollar is the most valuable coin in the world and it has gone on display at a museum in London.

Would eliminating $100, 500 euro banknotes beat crime?

Washington - Drug czars and terrorists could find their operations tougher -- or at least their gym bags heftier -- if proposals to eliminate high-value US and European banknotes gain traction.

'Bitcoin has failed', says prominent developer quitting project

A leading Bitcoin developer has announced he is quitting the platform and selling his own coins because the cryptocurrency has failed. Describing the project as a "failed experiment", Mike Hearn is now moving onto other projects.

IMF approves China's yuan as elite reserve currency

Washington - The International Monetary Fund welcomed China's yuan into its elite reserve currency basket, recognizing the ascendance of the Asian power in the global economy.

Aussies get behind petition to change currency to dollarydoos

Inspired by an episode of 'The Simpsons,' Aussies are getting behind an online petition to rename the country's currency to 'Dollarydoos'.

Brazil denies economy minister departure rumors

S - Brazil's government denied rumors that the country's finance minister was about to step down, which come as the world's seventh-biggest economy struggles with a steep slowdown.

Ex-US special agent pleads guilty to taking $800k in Bitcoin

Washington - A former US Secret Service special agent pleaded guilty to taking more than $800,000 of electronic Bitcoin currency while investigating the "Silk Road" online black market, the Justice Department said.

China cuts yuan rate against US dollar for second day

Shanghai - China cut the yuan's value against the dollar for the second consecutive day Wednesday, roiling global financial markets and driving expectations the currency could be set for further falls.

Emerging markets suffer in Greece's shadow

Paris - Greece has been hogging headlines lately, but emerging markets have also had their share of tribulations with the Chinese stock market in convulsions and the Brazilian economy and currency hitting the skids.

Forex markets looking at Greece, investors look to U.S.

The news from Greece of a shutdown put fear into investors and the euro dipped as a result against the dollar. Analysts are looking toward reliable US data, while China's situation worsens.

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.
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A Canadian Quarter
A Canadian Quarter
€1 coin
€1 coin
€1 coin
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
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Photo by Darren Hester
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
Canadian currency
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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
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
Canadian currency (file photo)
Canadian currency (file photo)
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401(K)
The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
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
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
Stacks of pennies were part of an unusual refund.
Stacks of pennies were part of an unusual refund.
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Canadian currency from 1933 to 1935
Canadian currency from 1933 to 1935
TTC charges 10% surcharge to US visitors on transit
TTC charges 10% surcharge to US visitors on transit
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Lionel Allorge
Australian currency
Australian currency
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