US dollar

June 18, 2025 3:04 PM

US added over 1,000 new millionaires a day last year, UBS report says

Wealth grew disproportionately quickly last year in the United States, where over 379,000 people became new U.S. dollar millionaires, more than a 1,000 a day, a report published on Wednesday showed. Private individuals' net worth rose 4.6% worldwide, and by over 11% in the Americas, driven by a stable U.S. dollar and upbeat financial markets, the 2025 Global Wealth Report by UBS UBSG.S found. The United States accounted for almost 40% of global millionaires in 2024. In 2023, Europe, the Middle...

April 11, 2025 12:04 PM

Dollar sinks to decade-low vs Swiss franc as US hit by loss of confidence

The dollar slumped on Friday as waning confidence in the U.S. economy prompted investors to ditch U.S. assets to the benefit of safe havens such as the Swiss franc, yen, and euro, as well as gold. The yellow metal recorded a new all-time peak, and the franc notched a fresh decade high. Investors dumped Wall Street stocks overnight, as a powerful relief rally on Wednesday - when President Donald Trump abruptly paused higher tariff rates on dozens of trading partners - reversed course in a frene...

February 14, 2025 10:11 PM

India’s forex reserves rise for third consecutive week, reach $638.26 billion

India's foreign exchange reserves continued their upward trend for the third consecutive week, reversing a months-long decline, according to data released by the Reserve Bank of India (RBI) on Friday. For the week ending February 7, the country’s forex reserves rose by $7.65 billion to $638.261 billion. This recovery follows a sharp slump that saw reserves fall in 15 of the previous 16 weeks, reaching an 11-month low. India’s reserves had been steadily declining since hitting an all-time h...

January 13, 2025 11:05 AM

Nifty, Sensex slide nearly 0.9% in early trade; experts predict easing pessimism after January 15

Indian stock markets opened in the red on Monday, with the Nifty 50 and BSE Sensex extending their downward trajectory amid a bearish global outlook. The Nifty 50 index dropped over 1% or 236.10 points to start at 23,195.40, while the BSE Sensex fell by 749.01 points or 0.97%, opening at 76,629.90. This sharp decline reflects persistent pressure on global equities, fueled by a strengthening US Dollar, rising global bond yields, and uncertainty surrounding potential policy changes under Trump 2....

September 16, 2024 4:03 PM

India’s economic stride strengthening rupee’s internationalisation in new global landscape

As the global economic landscape undergoes significant transformations, India's rupee is steadily gaining international prominence. This shift comes amid growing efforts to reduce the dominance of the US dollar in global finance, particularly among BRICS nations. The rise of the rupee on the international stage is evident in recent developments. Commerce Secretary Sunil Barthwal revealed on Wednesday that rupee-rouble trade has seen a substantial increase, with 53 accounts now open for such tra...