New Philippine polymer banknotes more effective against counterfeits
The country’s central bank was defending its decisions after the fresh polymer banknotes met backlash from the public, who questioned why portraits of national heroes from the old designs were removed. MANILA – The Banko Sentral ng Pilipinas (BSP) cited studies showing that the newly-released polymer banknotes are more effective in preventing counterfeits. It also asserted […]
Rupee plummets to record low, intensifying inflationary pressures on Indian economy
The Indian rupee recorded its steepest single-day decline in six months, depreciating to a record low against the United States dollar, posing fresh challenges for policymakers in controlling inflation. Notably, India’s central bank, the Reserve Bank of India (RBI), has made significant efforts to bring retail inflation (measured by the Consumer Price Index or CPI) […]