Currency: GK, Current Affairs, Questions, Trivia and News

Devaluation of Currency

The Currency devaluation is the deliberate reduction in the value of a country’s currency against another currency. It is used by monetary authorities when they need to improve the country’s trade balance by increasing exports if and when the trade deficit becomes a problem for the economy. The monetary authority then sets a lower exchange ..

Usha Thorat heads RBI task force on Offshore Rupee Markets

The RBI task force on Offshore Rupee Markets (ORM), headed by Usha Thorat, has suggested liberal currency market for offshore users. The panel recommended that onshore market hours may be suitably extended to match the flexibility provided by the offshore markets (or NDF markets). This is aimed at incentivizing non-residents to hedge in the onshore ..

US labels China a Currency Manipulator

The US has declared that China as a currency manipulator. The move could further fuel the ongoing trade war between the two countries. The US has alleged that China’s Central Bank is pushing for depreciation of Yuan as retaliation for new US tariffs. Why China is called Currency Manipulator? It has been alleged that People’s ..

United States designates China as currency manipulator

The United States has designated China a “currency manipulator”, following the devaluation of the Yuan. The move could escalate the tense trade relations between the two nations. The US action came after China allowed its yuan to weaken past the key seven-per-dollar level for the first time in more than a decade. This decision will ..

Switzerland removed from US currency watchlist

The Trump administration has recently removed India and Switzerland from its currency monitoring list of major trading partners. Both the countries were removed from the list because for two consecutive reports they had both met only one of three criteria necessary for inclusion on the monitoring list. According to the report, India had a significant ..

RBI to issue new 20 Rupees denomination Banknotes

The Reserve Bank of India is all set to issue new ?20 denomination banknotes in the Mahatma Gandhi (New) Series. The new note bears the signature of Shri Shaktikanta Das, Governor of RBI. The ?20 note is greenish-yellow in colour and has a motif of Ellora Caves on the reverse, depicting the country’s cultural heritage. ..

Ellora Caves motif of greenish-yellow Rs 20 denomination banknotes

The Reserve Bank of India (RBI) has recently announced that it will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi (New) Series. The new denomination has motif of Ellora Caves on the reverse that depicts the country’s cultural heritage. It also contains a portrait of Mahatma Gandhi at the centre, with micro letters ..

Ontario: First town to pay taxes with Bitcoins

The Ontario town can launched a pilot program in which the local residents can pay their taxes in crypto currency. Reidents of Ohio, USA were the first to to pay taxes in Bitcoins. The Candian citizens in Ontario will pay through the Coinberry app which will later be converted into Canadian dollars. Apart from bitcoins, ..