Dollar’s Share Of Global Reserves Lowest In 28 Years
The latest data from the International Monetary Fund shows the rate at which nations are diversifying away from the use of the US dollar in international trade settlement is accelerating.…
Russia Encourages Citizens To Shift Dollar Holdings To Gold
On Wednesday, the Goznak Joint Stock Company announced that its Moscow Mint website would allow Russian citizens to purchase gold ingots of up to 20 grams in weight. The offering…
Euro’s Share Of International Settlements Falls
This week Bloomberg reported that data from SWIFT shows that last month, the use of the euro in international settlements declined to its lowest level in three years. The statistics,…
BRICS Nations To Create New Reserve Currency Backed By Gold And Rare Earths
Photo of BRICS leaders courtesy of Wikipedia under Creative Commons Attribution 2.0 Generic license. State Duma Deputy Chairman Alexander Babakov said the BRICS alliance has a new cross-border trade settlement…
China Receives First LNG Shipment Paid For In Yuan
On Tuesday, the state-owned China National Offshore Oil Corporation (CNOOC) announced that the nation had taken receipt of its first liquified natural gas (LNG) cross-border shipment to be settled in…
Venezuela Dumping The Dollar For International Trade
Earlier this week, Venezuelan President Nicholas Maduro noted that Venezuela would be shifting away from using the US dollar in international trade, noting the move would help the Bolivarian Republic…
Jim Rogers Feels Dollar’s Dominance Is Slipping
On Wednesday, in an interview, famed investor Jim Rogers told the Russian news outlet Sputnik that the US dollar is losing its leading global positioning, while Washington has become the…
Russia And China Eliminating Use Of The Dollar In Trade
According to a Reuters report on Thursday, nearly all of China’s purchases of crude oil, gas, coal, andcertain metals from Russia are now settled in Chinese yuan, according to trading…
Pakistan To Pay For Russian Petroleum Products In Yuan
On Saturday, Pakistani media reported that the country is likely to use Chinese yuan to pay for future shipments of Russian crude, according to government sources. It is expected that…
South Korea Moves Toward De-Dollarization
The central banks of South Korea and Indonesia have joined in the international move away from the US dollar, signing a memorandum of understanding saying that they will promote bilateral…
