Page-2 of Currency Current Affairs, GK & News

Iran: New Currency introduced to tackle Inflation

The Iran Government has recently come up with the decision of changing the name of the its currency to toman. The unit of Iranian currency if Rial. According to the Iranian Government, one Toman is 10,000 rials. Highlights Gheran is another new denomination. 100 Gheran makes a Toman. The new system was authorized by the ..

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India’s Foreign Exchange touches all time high of 457.468 billion USD

RBI announced that Foreign Exchange Reserves of India has swelled by 2.52 billion USD in the week that ended on December 27, 2019. The Central Bank also said that the country’s special drawing rights with the IMF (International Monetary Fund) dipped by 2 million USD and the reserve position increased by 58 million USD. Currently, ..

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RBI launches MANI application for visually challenged

On January 01, 2020, the Reserve Bank of India launched the MANI application for visually challenged persons to identify new currency notes that were launched after demonetization. MANI is Mobile Aided Note Identifier. Highlights MANI application scans currency notes using camera and gives audio output in Hindi and English. The Government of India launched several ..

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NPL scientists develop ink to stop fake passports and currency notes

The Council of Scientific and Industrial Research (CSIR) and National Physical Laboratory (NPL) developed an ink to combat the problem of fake printing of passports and counterfeiting of currency notes. The ink has a new security feature o protecting itself against duplicity Key facts of the discovery The ink was produced based on single excitable ..

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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 ..

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