Currency

digital transaction: Digital drive gaining steam: Currency circulation declines during festive season, says RBI data

MUMBAI: The government’s demonetisation-led digital push may be bearing fruit. For the first time in more than a decade, the amount of currency in the hands of people has shown a contraction during the festive season, according to Reserve Bank of India (RBI) data. Currency in circulation has dipped in three weeks out of the five to September 22. In ...

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GBP/NZD Five Day Currency Exchange Forecast; UK PMIs To Boost Pound? |

Worse-than-expected second-quarter GDP figures from the UK saw the Pound Sterling to New Zealand Dollar exchange rate slump on Friday. GBP/NZD fell -0.5% to trade around NZ$1.8501 as the end of the week’s trading drew to a close. GDP Revision and Brexit Uncertainty Fail to Stop GBP Ending Week above Opening Levels Markets were still digesting the implications of Theresa ...

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Zim faces fresh economic meltdown

ZIMBABWE risks lurching into a fresh meltdown amid rising inflation, shortages of some basic commodities in supermarkets and fuel. This comes as bond notes have lost nearly 50% of their value on the informal market as the economy continues to face treacherous headwinds. Bernard Mpofu An observation by the Zimbabwe Independent showed that some supermarkets in the capital were struggling ...

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Bond notes: The chickens are coming home to roost

LAST week’s crashing of the bond note against the United States dollar led to market panic while at the same time evoking memories of the country’s unprecedented economic meltdown and hyperinflation era which peaked in 2008. By Tinashe Kairiza Zimbabwe adopted a basket of multiple currencies in 2009 after the runaway inflation liquidated the local currency which has since been ...

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Investors bemoan China crackdown on bitcoin

Beijing’s decision to shut down bitcoin trading platforms has left investors scrambling to cut their losses and threatens to deprive the crypto-currency of a crucial market.“The authorities don’t understand anything about bitcoin!” fumed Zhang Yanhua, founder of an investment fund that was dead on arrival after Beijing started tightening the screws at the start of the month.In mid-September the central ...

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South Korea Bans Virtual Currency : Korea : koreaportal

by Nafeesa / Oct 01, 2017 10:55 AM EDT South Korea Bans Virtual Currency South Korea on Friday banned raising money through all forms for virtual currencies, after a similar restriction in China. The Financial Services Commission said all kinds of initial coin offerings (ICO) will be banned as trading of virtual currencies needs to be tightly controlled and monitored. ...

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Crackdown on bitcoin lands China investors in tight spot

A man talks on a phone in a shop displaying a bitcoin sign in Hong Kong- File BEIJING Beijing’s decision to shut down bitcoin trading platforms has left investors scrambling to cut their losses and threatens to deprive the crypto-currency of a crucial market. “The authorities don’t understand anything about bitcoin!” fumed Zhang Yanhua, founder of an ...

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Zimbabwe’s Electoral Currencies – The Zimbabwean

The 1980 Election allocated 57 of the 80 Parliamentary seats to ZANU PF by a non-constituency system of national proportional representation.  This was followed by the relatively peaceful 1985 Election which was preceded by the demarcation of formal Constituencies. As a result ZANU PF increased its Parliamentary share to 64 seats because as the incumbent Government they had judiciously marked ...

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Paper Currency Celebrates 60 Years of ‘In God We Trust,’ Atheist Plans to Not Spend Any

U.S. paper currency began displaying the motto “In God We Trust” on October 1, 1957. These days, questions are being raised about whether this saying impinges on Americans’ rights.  Attorney Michael Newdow has been arguing the case that this phrase violates a statement within the Bill of Rights—“Congress shall make no law respecting an establishment of religion”—as well as the Religious Freedom Restoration Act. His ...

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Former Finance ministers speak on economic rot

Mugove Tafirenyika  •  1 October 2017 1:31PM  •  0 comments HARARE – Two of Zimbabwe’s former Finance ministers who served at critical junctures in the history of the country’s economy are seeing the nation’s economic prospects worsening if President Robert Mugabe gets re-elected in 2018. The two former ministers are Simba Makoni, who served as Finance minister between ...

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