The euro rose to the highest level in one year against the dollar as currency traders bet US central bankers will reinforce the case for lower borrowing costs at the Federal Reserve’s Jackson Hole economic symposium. The euro gained as much as 0.2% on Wednesday to 1.1148, its strongest level since July 2023. The European … Read more
The yen outperformed most of its peers in the Group of 10 Monday, rallying against the dollar in jittery trading ahead of key central bank events later in the week. Japan’s currency climbed as much as 1.7% versus the greenback to 145.19, before trimming the advance to about 0.8% during New York trading. The rally … Read more
The Reserve Bank of India has allowed resident Indians to open foreign currency accounts in Gift City (IFSC near Gandhinagar, Gujarat) for purposes permitted in the Liberalised Remittance Scheme (LRS). Earlier, these accounts were limited to investing in securities in Gift City and education-related payments. This broader scope for remittances can be a game-changer for … Read more