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| RBI's days of heavy currency intervention may have started The Reserve Bank of India (RBI) has started intervening in the currency market, a move, many players say, would be a one-way street because the rupee is expected to remain volatile and weaken further. The RBI's official stand is that it doesn't target a level for the rupee but irons out volatility.
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| St. Louis Federal Reserve Bank Likens Bitcoin to "Regular Money" Most of the criticism directed towards virtual currencies is that they are not backed by real-world commodities, which effectively means that they have no innate value. However, the St. Louis Fed argued that since decoupling from the gold standard in the early 1970s, "almost all global reserve currencies ...
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| Venezuela offers India 30% discount on crude but with cryptocurrency rider The discount, however, will be applicable only if India uses the country's new blockchain technology-based currency Petro. Put on a pre-sale on February 20, Petro is the world's first state-backed cryptocurrency tied to the South American country's oil reserves. Many see this as the safest cryptocurrency, ...
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