Two South American States Take Big Step To Reduce Dollar-Dependency
According to a new report by the Financial Times on Sunday, Brazil and Argentina are planning to create a common currency. The report noted the plan is to be discussed…
Saudi Arabia To Trade In Currencies Other Than The Dollar
Saudi Arabian finance minister Mohammed Al-Jadaan said the Kingdom is prepared to begin to discuss trading with other nations in currencies other than the US dollar, according to a new…
China Moves To Replace Dollars With Yuan In International Trade
Bloomberg is reporting that Chinese authorities have extended trading hours for the onshore yuan in an effort to promote the use of the national currency across borders, and boost yuan…
Russia And China Look To Bypass SWIFT
Russia Deputy Prime Minister Aleksandr Novak said on Tuesday that Russia and China are developing a financial settlement system which will facilitate cross-border economic transactions while bypassing the Western SWIFT…
Ex-Lehman Brothers Executive Says Dollar’s Reserve Status Under Threat
Former Lehman Brothers executive Lawrence McDonald has said in an interview that although the US dollar is riding high at the present moment, it may very well soon lose its…
With Truss’ Resignation, The Pound Rallies
The British pound sterling rallied on the resignation of British Prime Minister Liz Truss after only six weeks in office. Sterling rose 0.5%, reaching $1.13 vs the US dollar before…
Japanese Yen Collapses
On Thursday, the Japanese Yen reached its lowest point versus the US dollar since 1990, at 150 yen to the dollar. The Nikkei 225 stock index also dropped nearly 1%…
Indonesia’s Central Bank Opposes The Dollar
Indonesia’s central bank has publicly opposed the use of the US dollar in import-export transactions, calling for the use instead of local currencies in international payments, to reduce reliance on…
India To Debut Digital Rupee CBDC
India is set to begin pilot launches of its new Central Bank Digital Currency (CBDC), also known as the e-rupee, for specific use cases in the near future. In a…
British Pound Falls As Fitch Downgrades Nation To Negative
Following the disastrous rollout of the new Prime Minister’s “mini-budget,” the UK pound sterling fell on Thursday, off news Fitch has downgraded the outlook for the country to “negative.” The…
