Russian President Dmitry Medvedev illustrated his call for a supranational currency to replace the dollar by pulling from his pocket a sample coin of a “united future world currency.” “Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.” The coin, [...]

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Asian stocks and the won plunged to 10-month lows after a report that North Korean leader Kim Jong Il ordered his military to prepare for combat last week. The euro weakened and commodities declined on concern Europe’s debt crisis will spread. The MSCI Asia Pacific Index dropped 3.1 percent to 109.24 a 1:30 p.m. in Tokyo, set for [...]

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Investor Jim Rogers said Europe’s bailout of indebted nations to overcome the sovereign-debt crisis is just “another nail in the coffin” for the euro as higher spending increases the region’s debt. The 16-nation currency weakened for a second day against the dollar after rallying as much as 2.7 percent on May 10, when the governments of [...]

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NEW YORK – The dollar climbed to its highest level against the euro in nearly a month Tuesday, boosted by concerns about weak investor confidence in Germany and Greece’s debt crisis. The European single currency fell to 1.4291 dollars at 2200 GMT from 1.4382 dollars late on Monday. Earlier the euro sank to 1.4252 dollars, [...]

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TOKYO: Japan’s new Finance Minister Naoto Kan said that he wants the Japanese currency to weaken a bit more. He also intends to cooperate with the central bank to guide the yen exchange rate to appropriate levels. The remarks came as he met the press for the first time as finance minister. Reactions are mixed [...]

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SHANGHAI: China said on Monday it would soon launch a stock index covering 500 firms listed in the mainland, Hong Kong and Taiwan to enhance financial cooperation in the Greater China region. China Securities Index Co, established by the mainland’s two bourses in Shanghai and Shenzhen, will start to publish the CSI Cross-Straits 500 Index [...]

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EW YORK: The US dollar traded mostly lower to open the new year on Monday, as strong economic reports from the US and China encouraged riskier trades away from the safe-haven greenback.  The euro rose to 1.4408 dollars at 2200 GMT, from 1.4323 dollars in New York late on Thursday before the New Year holiday [...]

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SEOUL : North Korea’s new banknotes have plunged in value against China’s yuan since being introduced a month ago in a move that knocked two zeroes off the currency, South Korea’s Yonhap news agency reported Sunday. By late December traders on China’s border with the North were exchanging 1,000 North Korean won per Chinese yuan [...]

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Indonesia’s rupiah posted its biggest annual advance in seven years as signs the global economy is recovering from the recession encouraged overseas investors to return to emerging-market assets. The currency climbed 16 percent in 2009, Asia’s best performer ahead of the South Korean won. Funds based abroad bought $1.4 billion more Indonesian stocks than they [...]

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