Page-5 of Currency Current Affairs, GK & News
Zimbabwe introduces its new currency ‘RTGS dollar’
Zimbabwe has recently introduced its new currency, dubbed as Real Time Gross Settlement (RTGS) dollar, after the Reserve Bank of Zimbabwe (RBZ) announced measures to try and resolve a chronic monetary crisis. The new currency replaces electronic bank savings called digital dollars and the bond notes, and was named after the RTGS system that banks ..
Topics: Central bank • Currency • Debit card • Dollar • Economy • Foreign exchange market • Real Time Gross Settlement • Reserve Bank of Zimbabwe • RTGS Dollar • Zimbabwean bond coins • Zimbabwean bond notes
Nepal bans all Indian currency notes above Rs 100
The Nepal government has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations in the country. The decision will adversely affect Nepalese labourers working in India as well as Indian tourists visiting the Himalayan nation. Currently, India is Nepal’s largest trade partner and supplies the majority of its ..
Topics: Continents • Countries • Currency • Currency symbols • Indian rupee • Nepal • Rupee
India signs $75 bn currency swap agreement with Japan
The Government of India (GoI) has recently signed $75 bn bilateral currency swap agreement with Japan to bring greater stability in foreign exchange and capital markets in the country. The currency swap pact would enable the two major Asian economies to swap their local currencies – either Indian rupee or the Japanese yen against the ..
Topics: Central bank • Currency • Currency swap • Economy • Finance • Great Recession • Internationalization of the renminbi • Monetary hegemony • Money • Stock market crashes • Swap
Masala Bonds
Masala bonds are rupee denominated overseas bonds. Here are key notable points about Masala Bonds. Such bonds are Rupee denominated. When an Indian company issues Rupee denominated Bond, it is obviously shielded against the risk of currency exchange rate aberrations. The foreign exchange risk is on foreign investors rather. The key advantages of Masala Bonds are ..
Topics: Bond • Currency • Economy • Indian rupee • International finance • Masala bonds • Pakistani rupee • Renminbi • Rupee
Marshall Islands to become world’s first country to issue digital legal tender “Sovereign”
The Republic of the Marshall Islands (RMI) will become the first sovereign nation to issue a cryptocurrency that will be legal tender. The new currency is called “Sovereign” with the symbol “SOV”. The SOV will be distributed to the public via an Initial Currency Offering (ICO). It will circulate as legal tender in the country, ..
Topics: Countries • cryptocurrencies • Currency • Digital currency • Economy • Foreign exchange market • Legal tender • Monetary reform • Money • Petro • Sovereign Currency Act