Foreign exchange rates tend to be on the higher side in Tier II and Tier III cities as compared to metropolitan areas. By Sudarshan Motwani Ever wondered why purchasing Saudi Riyal costs you more in Delhi than in Calicut? Or ever thought why are Canadian Dollars cheaper in Jalandhar thanRead More →

MUMBAI : The Reserve Bank of India (RBI) bought a net $6.93 billion in the foreign exchange market in November, marginally below the $7.1 billion it had purchased in the previous month, the monthly bulletin showed. The RBI bought $7.46 billion and sold $530 million in the market in November, it said inRead More →

Demand for hard currency, such as dollars or euros, is rising in Cuba. Efforts to end the nation’s dual currency system have prompted fear of instability, encouraging citizens to seek out potentially less volatile vehicles to store wealth in, weirdly enough, such as Bitcoin. The rising demand has made itRead More →

Currency market volatility has been a consistent problem in emerging markets. Year after year, currencies are devalued in an attempt to boost economic growth but only serve to worsen external debt problems. Last year was particularly bad as we saw major declines in the Turkish lira, Argentine peso, and theRead More →

A museum set up by the Reserve Bank of India seeks to demystify money matters for the layperson Even at the peak of the demonetisation frenzy in November 2016 — when the whole country was seen waiting in queues outside banks and ATMs — few people understood the impact ofRead More →

NEW DELHI: The Reserve Bank of India (RBI) will soon come out with a mobile app that will read out the denomination of currency notes for the visually-challenged population. The central bank has started the process of scouting for a vendor that can develop the mobile application for aiding the visually impaired inRead More →

David Marcus, the Facebook exec who helped hatch its Libra digital currency project, said a managing director with experience in government and central banking would be a great leader for the independent group that will actually oversee the currency. “We need someone who knows how economies tend to work, who understands howRead More →