Latest News
Recent currency news from our research team
Swiss Franc Surges Amid U.S. Tariff Escalation
The Swiss franc has experienced a significant surge, reaching a decade-high against the U.S. dollar, following President Donald Trump's announcement of increased tariffs on Chinese imports. This development has intensified market volatility and heightened demand for safe-haven assets.
Yuan's Volatility Surges Amid U.S. Tariff Escalation
The Chinese yuan has weakened following the United States' decision to impose a 125% tariff on Chinese imports, prompting the People's Bank of China to intervene to stabilize the currency.
Mexican Peso Faces Uncertainty Amid U.S. Tariff Threats and Economic Policies
The Mexican peso's outlook for 2025 is clouded by potential U.S. tariffs and economic policies, with forecasts indicating possible depreciation against the U.S. dollar.
Global Currency Markets React to U.S. Tariffs and Economic Policies
Recent U.S. trade policies, including aggressive tariffs on auto imports, have introduced significant volatility in global currency markets, affecting major currencies such as the euro, British pound, and Japanese yen.
Indonesian Rupiah Nears Record Low Amid Fiscal Concerns
The Indonesian rupiah approaches a historic low against the U.S. dollar, influenced by fiscal worries and government spending plans.
Currency Markets in Flux: Euro's Ascent Amidst Global Economic Shifts
The global currency landscape is experiencing notable shifts as the euro strengthens against major currencies, influenced by economic policies, geopolitical events, and fluctuating oil prices.
How the Weak US Dollar Can Impact International Business in 2025
Markets have shifted focus to the interest rate policies of other major central banks rather than the Federal Reserve.
Where to for the Loonie in 2025
Economists are predicting that the Canadian dollar could rise this year.
Strong Singapore Dollar Sparks Travel Boom and Economic Shifts
The Singapore dollar has reached its highest level in over a decade, boosting outbound travel and curbing inflation, but also putting pressure on exporters and local businesses. While sectors like logistics and finance benefit, retail, hospitality, and exports face challenges from the strong currency.
Will the US dollar remain strong?
The dollar has risen by nearly 20% against most currencies compared to this time last year.
Great News for Travelers to Europe this Summer
Stronger AUD, USD, and GBP Against the Euro due to surprise French elections.
US Dollar Hits 14-Month Low on Cooling US Inflation
USD sinks as global currency markets react to slowing US inflation, prompting a surge in other major currencies and a potential end to the Federal Reserve's tightening cycle.
Nigeria's Decision to End Currency Peg Triggers Historic Naira Plunge
Central Bank Chief's Removal Sets Stage for Currency Liberalization
Currency Recap: EUR Strength, USD Falters, CAD Holds Ground, AUD Strong & NZD Weak
AUD Bolstered by Jobs Report, NZD Dented by Risk-off Flows, EUR Lifted by Hawkish ECB, USD Relinquishes Gains, CAD Steady Amid Rising Oil Prices
US Dollar Weakens on Regional Banks Fears and Tighter Credit
The US dollar weakened due to fears surrounding regional banks, while the ECB offered a less hawkish than expected 25bp hike and the Swiss franc is in demand.
April Outlook Clouded by Banking Uncertainty
April Forex Outlook: Banking Crises Cast Shadow Over Global Currency Markets
Fears of US Recession Shifts Currencies & Commodities
As we approach mid-year a shift has taken place in currency markets with the narrative less about interest rates hikes and more risk-off worries about a possible coming recession.
War and Inflation Powers US Dollar Strength
During periods of rising inflation a stronger currency benefits a country's economics as this makes imports cheaper.
Singapore simplifies Covid travel protocols
Singapore is chasing tourists again relaxing some of their covid rules
Hong Kong Reverts to More Lenient Travel Restrictions
Recognising the impact of Covid-19 on its financial status, Hong Kong has reverted back to more lenient travel restrictions to improve life for both residents and travelers.
Thailand Relaxes Covid Rules for Tourists
Global travel starts to revive so Thailand moves to revive its Economy after the pandemic.
New Zealand Opening After Two Years - Aussies Welcomed First
'Fortress New Zealand' opening after two long pandemic years - Aussies welcomed back first on April 12th and other nationalities on 1st of May.
Russian sanctions mount - US dollar gains
Any curbs to Russian access to its foreign reserves could present a bigger blow to the Russian economy than the impact of a ban on Swift.
Geo-politics replaces COVID-19 Risk for Currency Markets
Russia attacking Ukraine has sparked volatility and a flight to safe-haven currencies such as CHF.
Next Crises: China Property plus European Energy shake Currency Markets
Fears Chinese mega developer Evergrande’s collapse will spark a contagion event and the ongoing European gas crisis has hit confidence.
Disruptors Challenging Australian Banks in Forex Price and Service: ACCC Report
Key Takeaways from the ACCC inquiry into currency conversion services. BestExchangeRates referenced among comparison sites playing an important role in customer awareness of the excessive currency margins charged by banks.
SWIFT Trials Real-Time Transfers in Europe; GPI Network an Answer to Ripple
The operator of the world’s largest financial messaging system, SWIFT, has said it will trial real-time "gpi" cross-border payments using the European Central Bank's TIPS platform. SWIFT gpi has been developed as an answer to distributed ledger payment technologies, most notably Ripple.
Revolut Adds Group-Saving Feature
This week saw the addition of a group-saving feature in Revolut. “Group Vaults” are an extension of popular Vault functionally that Revolut introduced last year.
Fintechs vs. Banks: Remittance War Rages On as FX Costs Slashed for Millions
For many currency routes, FX costs have been slashed in recent years by a number of industry-disrupting fintechs, allowing such firms to slice great chunks from the banking sector’s lucrative remittance markets. Banks are fighting back, though, by developing low-cost, digital offerings of their own.
WorldFirst add Hong Kong Dollar and Chinese Yuan to World Accounts
World Accounts now let your business collect funds and pay local suppliers in HKD or make payments to offshore CNY (CNH) accounts in China.
Consumers Throwing Away Billions on FX Fees (TransferWise Study)
As in the rest of the world, consumers in Singapore are being fleeced when it comes to foreign exchange costs, a study by TransferWise has revealed. Individuals in Singapore are being charged 15 times more on international payments than companies are, with S$2 billion lost in hidden FX fees annually.
India Pursues Complete Ban on Digital Currencies
Cryptocurrencies and the blockchain technologies that support them are at the forefront of remittance-industry innovations, but these are under attack in India, where a complete crypto ban will be proposed in May.
Remittances Reach All-Time High
Remittances to low and middle-income countries reached a record high last year, the World Bank has said. Average transaction costs remain high, with an average of 7 percent paid to transfer $200 or equivalent.
SGD/MYR at 17-Month High; Ringgit Slumps on FTSE Index Deselection
What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.
Brexit This Year Now a Toss-Up, Bookmakers Say; What Next for Pound?
With the chance of a 2019 Brexit now reduced to 50 percent, the pound’s value is likely to remain capped for the time being, most likely near US$1.34, experts say. On the downside, US$1.24 is likely should the latest Article 50 extension be used to hold a UK general election.
Bitcoin More Popular Than Visa, MasterCard for Large Payments; Recent Price Surge Only the Beginning (DataLight)
Research has highlighted the popularity of bitcoin for large payments, including those across borders. By transaction volume, bitcoin has nearly caught up with Mastercard and may in future overtake the market leader, Visa. In the markets, bitcoin’s sudden surge earlier this week is yet to be explained.
TransferWise Announces PayNow Funding Option
TransferWise is now officially offering PayNow as a funding option for users in Singapore, the company has announced.
Banking Sector Fights Back Against Fintech Rivals
Citigroup’s announcement this week of plans to develop its own consumer-payments platform is the latest indication of a fightback by the banking establishment against fintech rivals that threaten its most lucrative markets.
Benign Brexit Outcome Most Likely; Pound to Strengthen, Says Bank of America
Developments this week make a “benign Brexit outcome” the most probable and offer reason enough to be favouring British pound appreciation for the foreseeable future, analysts at Bank of America Merrill Lynch have said.
Revolut Steps Up Brexit Preparations
Fintech hotshot Revolut has written to millions of its customers to warn that new verification documents will be needed in the event of a no-deal Brexit; it has also called on the UK government to get serious about post-Brexit tech visas.
WorldFirst Owners Target European Expansion
Ant Financial, the Chinese fintech giant that recently acquired WorldFirst, has set its sights on Europe, where it plans to take its share of both cross-border and point-of-sale payments.
CBOE Ditches Bitcoin Futures Amid Reduced Interest
Amid declining interest, the Chicago Board Options Exchange, or CBOE, has announced it will no longer offer bitcoin futures contracts once current contracts expire in June.
Revolut Introduces Auto Currency Exchange
Digital bank Revolut announced this week the introduction of a significant new feature: auto currency exchange based on targeted exchange rates.
Messaging Apps to Take Slice of Remittance Market Using Their Own Cryptocurrencies
Users of popular messaging apps, including WhatsApp and Line, might soon be able to make cross-border payments effortlessly. In a move that will further disrupt the payments industry, the creators of such apps, including Facebook, are working hard to develop their own digital currencies that can be transferred to anyone in a user’s contact list.
Currency Traders Wary of Flash Crashes During Quietest Part of Day - 'Witching Hour' Woes
Flash crashes can cause massive losses to those on the wrong side of them and without central bank intervention more of these are on their way.
Mega Bank Ends Cash Remittances
Japanese mega bank MUFG has announced it will end all over-the-counter money transfer services in June of this year in an effort to avert money laundering.
Revolut Readies Singapore Launch
Revolut, a digital bank that allows users to receive, send and spend money at the interbank exchange rate, should be ready for its Singapore beta launch in March 2019, the company has said.
Japan Allows Fintech Payments Specialists to Compete with Banks
The Japanese FSA has announced it will finally remove a ¥1 million (US$9,000) cap on cross-border money transfers handled by non-banking entities, paving the way for a major overhaul of Japan’s remittance industry.
China's Ant Financial Acquires WorldFirst
Chinese fintech giant Ant Financial has acquired British payments specialist WorldFirst for an undisclosed amount.
Cryptocurrencies Soar: Litecoin Gains 30 Percent
Cryptocurrencies exploded on Friday for reasons not fully understood by analysts. Litecoin was among the day’s stars, gaining 30 percent. Brokers, though, remain skeptical about the rally’s sustainability.
BER Australian Scholarship 2018 Winner Announced
Xiong Xiao, a PhD candidate currently studying and teaching at the University of Western Australia is awarded BestExchangeRate.com's first scholarship for foreign students in Australia.
Transferwise changes Eurozone fee structure
In late June 2018, Transferwise introduced a new fee structure for Eurozone foreign transfers (from EUR) ... and as always with Transferwise its complicated so we will break it down for you!
Transferwise changes UK fee structure
In October 2017, Transferwise introduced a new fee structure for foreign transfers from the UK ... its complicated so we will break it down for you!