currencies - updates

Rappler's latest stories on currencies


Sanctions-hit Iran to cut zeros, rename plunging currency

Jul 31, 2019 - 10:20 PM

Iran plans to eliminate 4 zeros from its currency, the rial, and officially call it the toman

Photo from Shutterstock

U.S. senators warn of 'trust' gap over Facebook digital currency

Jul 17, 2019 - 9:40 AM

Several senators question whether Facebook can be trusted after a series of missteps on privacy and data protection

2 arrested in Quezon for mutilating P10 coins

Apr 07, 2019 - 4:20 PM

The Bangko Sentral ng Pilipinas says one of the suspects 'even uploaded a coin mutilation video' on social media, attracting authorities' attention

BSP Conducts Succesful Operation Against Currency Mutilation. Photo from Bangko Sentral ng Pilpinas.

Bitcoin falls below $5,000 for first time since 2017

Nov 20, 2018 - 12:19 PM

The still-nascent sector is not completely transparent and analysts have struggled to understand what precisely prompted the latest drop

BITCOIN. A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the "Bitcoin Change" shop in the Israeli city of Tel Aviv. Photo by Jack Guez/AFP

Philippines, China launch peso-yuan trading facility

Oct 30, 2018 - 8:05 PM

Finance Secretary Carlos Dominguez III says this reduces the cost of doing business for Chinese and Filipino businessmen

FASTER CONVERSION. The peso-yuan trading facility hastens the exchange of the two currencies. Shutterstock photo

Sri Lanka restricts car imports as currency crashes

Sep 30, 2018 - 4:30 AM

The Sri Lankan rupee has lost more than 10% of its value against the US dollar this year

[ANALYSIS] The Philippines' cryptocurrency opportunity

Aug 30, 2018 - 2:21 PM

Financial technology innovations that could well benefit the 'unbanked' and others who would benefit from greater access to capital could well be stymied by well-intended regulations in the Philippines

Venezuelan business leaders hit Maduro's new banknotes

Aug 21, 2018 - 11:56 AM

(UPDATED) Alongside the bolivar redenomination, President Nicolas Maduro announces other measures to tackle widespread poverty, including a massive 3,400% wage hike

NEW BILLS. Picture of a new five Bolivar-note (R) and its equivalent in old Bolivar-bills in Caracas on August 20, 2018. Photo by Federico Parra/AFP

'Mirror, mirror, on the wall, who's the greatest cheat of them all?'

Aug 19, 2018 - 11:00 AM

While money is behind many things that are good and progressive about human lives, it is more notoriously known for being the root of unethical behavior

Venezuela relaunches currency, as analysts warn of worsened crisis

Aug 18, 2018 - 11:28 PM

Ahead of the relaunched currency, President Nicolas Maduro announces a minimum wage hike, the fifth so far this year

VENEZUELA. In this file photo, a person's shadow is cast on a Venezuelan national flag in Caracas on July 10, 2017. Photo by Federico Parra/AFP

Venezuela loosens grip on currency in bid to ease crisis

Aug 03, 2018 - 8:58 AM

The Constituent Assembly, dominated by President Nicolas Maduro's loyalists, announces the passage of a decree authorizing money exchange operations

CURRENCY. In this file photo, a customer receives money at a currency exchange office in Caracas on February 19, 2015. File photo by Federico Parra/AFP

Venezuela to remove 5 zeroes from currency

Jul 26, 2018 - 12:23 PM

The measure, according to Venezuelan President Nicolas Maduro, seeks to 'protect' local currency

HYPERINFLATION. A man counts 1000-Bolivar-bills to buy groceries at the municipal market of Coche, a neighborhood of Caracas, on June 20, 2018. Photo by Federico Parra/AFP

Trump accuses China, EU of currency manipulation

Jul 21, 2018 - 11:31 AM

The outbursts are another crosswind for Wall Street, which struggled to find direction and finished Friday, July 20, a hair's breadth in negative territory

PRESIDENT TRUMP. In this file photo, US President Donald Trump speaks to the press aboard Air Force One in flight as he travels from Joint Base Andrews in Maryland, to Bedminster, New Jersey, June 29, 2018. Photo by Saul Loeb/AFP

BSP warns: P10,000-bill is fake

Jun 23, 2018 - 2:05 PM

Use of a fake banknote is punishable under the law, says the Bangko Sentral ng Pilipinas

FAKE. The Bangko Sentral ng Pilipinas says the viral photos of a P10,000 bill is fake. Photo by BSP

LOOK: Newly designed Philippine coins

Mar 26, 2018 - 6:00 PM

The Bangko Sentral ng Pilipinas says the new coins will coexist with the old coins in circulation

Beep cardholders now allowed to reload using

Mar 19, 2018 - 8:15 PM

The new function enables commuters to reload Beep cards in seconds – with as little as P10 – using funds from digital wallets on Android smartphones

Different approaches to bitcoin in Asia

Jan 07, 2018 - 4:45 PM

Here's how some Asian regulators are handling the bitcoin phenomenon

Philippine stocks hit fresh all-time high on 2017's last trading day

Dec 29, 2017 - 7:44 PM

This is the 14th time the main index closed at an all-time high this 2017. For the year alone, the Philippine Stock Exchange index gained 25.1%.

ALL-TIME HIGH. The executives of Philippine Stock Exchange on Friday, December 29 celebrate last trading day of 2017. Photo from PSE Corporate Communications

Rodrigo Duterte, Mandaluyong shootout, Bangko Sentral deadline | Midday wRap

Dec 29, 2017 - 1:17 PM

Watch Rappler’s midday newscast with Mara Cepeda

BSP sets Dec 29 as 'final, non-extendable' deadline to swap old peso bills

Dec 28, 2017 - 7:08 PM

The previous 3 deadline extensions set by the Bangko Sentral ng Pilipinas after the original deadline of December 31, 2016, were March 31, June 30, and finally to December 29, 2017

BSP defends design for new P5 coin, differentiates it from P1 coin

Dec 28, 2017 - 6:01 PM

This statement comes after a senator's appeal to halt circulation of new P5 coins

HONORING. The new P5 coin features Andres Bonifacio, who replaces Emilio Aguinaldo on the face of the coin. Image from the BSP

Philippine peso strongest in 6 months, stocks break 8500 level

Dec 28, 2017 - 5:11 PM

Philippine peso and stocks finish on a strong note two days before trading takes a 4-day New Year break

BSP releases Philippine peso bills with 'enhanced design'

Dec 05, 2017 - 8:15 PM

The Bangko Sentral ng Pilipinas says the new banknotes are 'aimed at highlighting significant moments in the nation's history, as well as its world heritage sites and iconic natural wonders'

Venezuela creating digital currency amid financing crisis

Dec 04, 2017 - 12:38 PM

The Petro will be backed by Venezuela's oil and gas reserves and its gold and diamond holdings

VENEZUELAN LEADER. In this file photo, Venezuela's President Nicolas Maduro delivers a speech at the Miraflores presidential palace in Caracas on November 4, 2016. Juan Barreto/File/AFP

BSP releases new P5 coin to honor Andres Bonifacio

Nov 29, 2017 - 5:05 PM

The central bank will circulate the new coin on December 1 to commemorate the 154th birth anniversary of the father of the Philippine Revolution, while other newly designed coins will be circulated in January 2018

Bitcoin breaks $10,000 barrier but analysts warn of bubble

Nov 29, 2017 - 9:48 AM

(UPDATED) The cryptocurrency surges to a high of $10,058 in early Asian hours, though the recent surge in the volatile unit fuels fears of a bubble

VIRTUAL CURRENCY. This file picture taken on February 28, 2014 shows a man talking on a mobile phone in a shop displaying a Bitcoin sign during the opening ceremony of the first bitcoin retail shop in Hong Kong. Philippe Lopez/AFP

[OPINION] Microtransactions are the dark side of modern video games

Nov 21, 2017 - 2:45 PM

If video games adopt microtransaction systems at the expense of the fun and general escapism that video games have always provided us, then count me out

A year after cash ban, India's black money market is thriving

Nov 08, 2017 - 12:36 PM

As businesses from streetside stalls to wholesalers rekindle their love affair with cash, Modi is coming under pressure to explain whether the most controversial policy of his tenure was worth the economic pain

CASH STILL KING. An Indian customer hands over cash to a food grain merchant at a wholesale trading shop in Bangalore on February 28, 2017. Manjunath Kiran/AFP

Family sells everything they own for bitcoin

Oct 20, 2017 - 11:28 AM

This Dutch family is betting on the virtual currency, believing 1 bitcoin will be worth nearly $30,000 by 2020

BETTING BIG. The Dutch family has been traveling across the globe after trading in most of their assets for bitcoin. Photo from Didi Taihuttu/Instagram

Defiance in Britain over new £1 coin as deadline looms

Oct 10, 2017 - 12:55 PM

Businesses complain they weren't given enough time to switch to the new coin

(FILES) This file photo taken on March 28, 2017 shows an old issue £1 (one pound) coin (R) pictured alongside a newly issued 12-sided £1 (one pound) coin in London. Britain's old one-pound coin is being phased out completely on October 15, 2017, but businesses complain they have been given too little time to switch to the new one and many are planning to defy the deadline. / AFP PHOTO / Justin TALLIS

Top Chinese bitcoin exchange shuts down

Sep 14, 2017 - 10:54 PM

BTCC – China s second bitcoin platform in terms of volume and the world s third largest – says on its Twitter account that after carefully considering the announcement by Chinese regulators it will stop all trading on September 30

Burger King has its own 'whoppercoin' cryptocurrency in Russia

Aug 29, 2017 - 4:03 PM

Eating Whoppers now is a strategy for financial prosperity tomorrow claims Burger King Russia s communications head

CRYPTO-CRAZE. The fastfood chain joins the surging but volatile industry. Image for illustration purposes only

Basagan ng Trip with Leloy Claudio: Why a depreciating Philippine peso might be a good thing

Aug 22, 2017 - 12:04 AM

Leloy Claudio talks about the often overlooked advantages of a depreciating Philippine peso

Pound still struggles as British election sows uncertainty

Jun 13, 2017 - 4:33 PM

On equity markets technology firms were unable to bounce back from the previous day s sell off that was sparked by a rout in the sector on Wall Street Friday June 9

POUND NOTES. In this file photo, an Indian currency exchange worker counts out British pound sterling notes in New Delhi on June 27, 2016. Money Sharma/AFP

Pound dives as Britain thrown into chaos by shock vote

Jun 09, 2017 - 11:41 AM

The pound dived from 1 2959 to 1 2695 minutes after exit polls indicated the Conservatives were going to lose their majority

PROJECTION, PROJECTION. An exit poll predicting that the Labour Party led by Jeremy Corbyn will win 266 seats in the British general election is projected onto BBC Broadcasting House, Portland Place, in London, on June 8, 2015, after the polls closed. Paul Ellis/AFP

BSP gives public more time to exchange old peso bills

Mar 23, 2017 - 6:20 PM

Filipinos now have until June 30 2017 to exchange their New Design Series NDS banknotes After June 30 these bills will have no monetary value

NEW DEADLINE. Bangko Sentral ng Pilipinas Deputy Governor Diwa Guinigundo shows old and new banknotes in a press conference. Photo by Joel Leporada/Rappler

Sterling hammered on Brexit reports, Asia markets sink

Jan 16, 2017 - 3:21 PM

A number of Sunday newspapers in the UK said May was willing to pull out of the single market the European customs union and the European Court of Justice in order to regain control of immigration

An Indian currency exchange worker counts out British pound sterling notes in New Delhi on June 27, 2016. Money Sharma/AFP

A few key facts about Bitcoin

Jan 06, 2017 - 11:27 AM

With the virtual currency recently surging in value here are a few things you should know about it

BITCOIN. This illustration shows a Bitcoin sign in Hong Kong on August 3, 2016. Photo by Anthony Wallace/AFP

'Safe haven' Bitcoin retreats after shot at all-time high

Jan 06, 2017 - 11:23 AM

The virtual currency exhibits its trademark volatility in spite of a recent surge in demand

BITCOIN. This illustration shows a Bitcoin sign in Hong Kong on August 3, 2016. Photo by Anthony Wallace/AFP

Peso bills with Duterte's signature out next week

Dec 14, 2016 - 8:10 PM

The Bangko Sentral ng Pilipinas also reminds the public that it only has until the end of this month to replace old banknotes with the New Generation Currency NGC bills

Rush to spend as India 'cash catastrophe' prompts chaos

Dec 02, 2016 - 8:27 PM

As anger mounted at the continued shortage of cash the leader of the opposition Congress party accused Modi of experimenting with the financial future of 1 3 billion people

'NO CASH' In this photograph taken on November 30, 2016, a handwritten sign stating 'no cash' is hung onto door of an ATM in Mumbai. Indranil Mukherjee/AFP

Philippine peso hits P50 to the dollar

Nov 24, 2016 - 12:04 PM

3rd UPDATE Economists and government officials say the pace by which the local currency has been weakening against the greenback remains very manageable

A customer counts Philippines peso notes after trading his US dollars for Philippine pesos in Manila on September 8, 2015.  Jay Directo/AFP

Dominguez: Fed rate hike talks mainly caused peso depreciation

Nov 02, 2016 - 7:30 PM

On Wednesday November 2 the Philippine peso slightly strengthens against the US dollar as the greenback weakens on growing concerns over the US elections

Finance Secretary Carlos Dominguez III says that the country's growth momentum, coupled with low inflation rate, stable currency, and strong political leadership of the Duterte administration, has earnestly opened the doors for business with other nations. Photo by King Rodriguez/Presidential Photo

'Hard Brexit' fears push pound to 31-year dollar low

Oct 04, 2016 - 5:39 PM

3rd UPDATE The pound slumps to a 31 year low against the dollar on concerns over the timing of Britain s planned exit from the European Union

An illustrative picture taken in Liverpool on August 17, 2016 shows an arrangement of British 10 and 20 pound bank notes and 1 and 2 pound coins. Paul Ellis/AFP

Peso depreciation: Should we be worried?

Oct 01, 2016 - 1:11 PM

While the peso’s depreciation to a 7 year low is no cause for concern it remains to be seen whether it will persist due to sustained capital flight

PH peso weakest in region, but not alarming for economic managers

Sep 28, 2016 - 8:39 PM

For the country s economic team the Philippines has enough buffers to survive the external headwinds

EXTERNALLY DRIVEN. The country's economic team says economic fundamentals remain favorable and that the recent peso weakness was externally driven. File photo from Agence France-Presse

Clinton vs Trump, Duterte, vs Abu Sayyaf, Philippine peso drop | 12PM wRap

Sep 27, 2016 - 12:31 PM

Watch the 12PM wRap with Maria Ressa

Peso hits 7-year low vs US dollar

Sep 26, 2016 - 7:00 PM

The Philippine peso closes at P48 25 to 1 on Monday September 26 amid domestic and global uncertainty

BSP eases forex limits for consumers, corporations

Sep 15, 2016 - 12:30 PM

The new regulations lift the cap on foreign currency that can be purchased without supporting documents to 500 000 for individuals and 1 million for firms among others

PNP generals, British pound, Gilas Pilipinas | 12PM wRap

Jul 06, 2016 - 12:00 PM

Watch Rappler’s 12PM newscast with Maria Ressa