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#Fake Currency NIA court sentences two fake currency racketeers to six years in jail #Fake Currency Bengal-Maharashtra fake currency racket: NIA arrests key accused #Fake Currency NIA files chargesheet in fake currency case #Fake Currency NIA charges key conspirator in fake currency case #Fake Currency 3 sentenced to 6 years in jail in fake Indian currency case #Fake Currency 3 get 6 year jail term in fake currency case For Quick Alerts Subscribe Now Sex for job: Karnataka Water Resources Minister Ramesh Jarkiholi resigns View Sample For Quick Alerts ALLOW NOTIFICATIONS For Daily Alerts Just In 5 min ago There is no place for Sasikala, Dhinakaran in party: AIADMK 14 min ago Abdul Kalam's scientific adviser appointed VP of Kamal Haasan's MNM 22 min ago Get a dose 24x7 at your convenience: Govt removes time constraint for getting … [Read more...] about As polls near in Bengal, agencies shift focus to India’s fake currency hub, Malda

SINGAPORE: Singapore's central bank said on Wednesday (May 29) it does not engage in currency manipulation, after the United States added the country to a watchlist of trading partners as set out in a semi-annual report by the US Treasury Department . Singapore, along with eight other trading partners of the US, were added to a "monitoring list" for exchange rate and macroeconomic policies. The US Treasury cited Singapore's large current account surplus and foreign exchange intervention operations. READ: Singapore, Malaysia added to US watchlist on currency practices In response to media queries on the US Treasury report, the Monetary Authority of Singapore (MAS) said it "does not manipulate its currency for export advantage". It said Singapore's monetary policy framework, which is centred on the exchange rate, "has always been aimed at ensuring medium-term price stability" and will continue to do so. MAS manages the Singapore dollar nominal effective exchange rate … [Read more...] about Singapore does not engage in currency manipulation: MAS on US currency watchlist

FRANKFURT AM MAIN: European Central Bank chief Mario Draghi said on Tuesday (Jun 18) that the institution "doesn't target the exchange rate", shrugging off an allegation of currency manipulation from US President Donald Trump. "We have our remit. We have our mandate. Our mandate is price stability or inflation just below two per cent," Draghi told a central banking conference in Sintra, Portugal. "We are ready to use all the instruments that are necessary to fulfil this mandate, and we don't target the exchange rate," he added. Draghi's statement that weak economic growth and sluggish inflation could prompt the ECB to slash further rates already at historic lows had earlier sparked Trump's ire. "Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the dollar, making it unfairly easier for them to compete against the USA," Trump said on Twitter. "They have been getting away with this for years, along with China and others," he … [Read more...] about ECB’s Draghi brushes off Trump charge of currency manipulation

TOKYO: Malaysian Prime Minister Mahathir Mohamad on Thursday (May 30) proposed to create a new “special currency” for the region based on gold, replacing the existing currency trading regime. Speaking at a dialogue session at the 25th International Conference on The Future of Asia (Nikkei Conference), he claimed that a regional currency based on gold would be more stable. The prime minister said that by pegging the new currency to gold, it could be used to evaluate the import and export activities among East Asian countries. “We can make settlement using that (new) currency. That currency must be pegged to the local currency as the exchange rate, which is something that can be related to the country’s performance,” he said. “That way we know how much we owe, how much we have to pay in the special currency of East Asia." The new currency could also be extended to countries outside East Asia, he said. Dr Mahathir noted that the global market is now tied to the US dollar, … [Read more...] about Malaysian PM Mahathir proposes new regional currency based on gold

SINGAPORE: China and Singapore have renewed the Bilateral Currency Swap Agreement (BCSA) worth 300 billion yuan (S$60 billion) for three years. This was announced by the Monetary Authority of Singapore (MAS) and People's Bank of China (PBC) on Monday (May 13). "Up to CNY300 billion in Chinese Yuan liquidity will be available to eligible financial institutions operating in Singapore," MAS said in its media release. The agreement was signed by PBC governor Yi Gang and MAS managing director Ravi Menon and was effective from May 10. Singapore and China established the BCSA in 2010, and renewed it in 2013 and 2016. It gives the PBC and MAS access to foreign currency liquidity to support trade and investment financing, including projects under China's Belt and Road Initiative, the media release added. "The agreement will strengthen regional economic resilience and financial stability," said MAS. The BCSA could be extended again, China's central bank said, without giving … [Read more...] about Singapore, China renew bilateral currency swap agreement