Dollar’s Share Of Global Reserves Continues To Decline
According to the newest data released by the International Monetary Fund (IMF), the US dollars share of global bank reserves has continued to decrease, plummeting to 59.2% for the third…
Dollar Use In Oil Transactions Continues To Decline
This week the Wall Street Journal reported that global consumers and exporters of crude oil are performing their transactions without the use of dollar denominated trade deals, according to Natasha…
Italy And Russia To Settle Trade In Rubles
In an interview with RIA Novosti, the president of the Italian-Russian Chamber of Commerce, Ferdinando Pelazzo said that the Italian business lobby in Russia is in the process of finalizing…
Russia And China Eliminate Use Of Dollar In Trade
According to Russian Prime Minister Mikhail Mishustin, Russia and China have phased out almost all use of Western currencies, with almost all payments between the countries now carried out in…
Russia Tells BRICS To Ban Dollar
Russian Finance Minister Anton Siluanov said in a statement, that it is very important for all the BRICS member states that they develop sustainable financial relations and settlements within the…
Another Country Adopts Russia’s Mir Payment Card System
In an announcement by the press service of the Russian National Payment System, (NPSK), it was revealed that Russia’s Mir payment cards are now being accepted in Cuba at point…
Russia And Vietnam Trade Settled In National Currencies Soars
In an interview with RIA Novosti in the runup to the Russia Calling 2023 investment forum, Olga Basha, VTB’s head of international settlements pointed out that trade settlements in national…
Russian Exporters Move To Sell Foreign Currency Holdings
Elizaveta Danilova, the director of the financial stability department of the Bank of Russia, said at a press briefing last week that over the past two months, major Russian exporters…
In Russia, Foreign Currency Deposits Shrink
According to a recent report by the Russian central bank, Russian households have reduced their savings kept in currencies other than the ruble to their lowest level in more than…
Dollar Liquidations By Investors Accelerate As Fed Appears Done Tightening
As sentiment builds that the US Federal Reserve is done with its aggressive campaign of interest rate hikes, investors are offloading their dollar positions at the fastest rate in a…
