Brazil And Argentina Continue To Move Away From The Dollar In Bilateral Trade
Argentina and Brazil have announced they are continuing to work on a new method of trade settlement which will allow them to avoid having to use the US dollar in…
Indian Banker Says Reserve Dollar Is A Financial Terrorist
On Friday, billionaire investor and Kotak Mahindra Bank CEO Uday Kotak said the US dollar is too powerful due to its reserve currency status, and the world is in desperate…
China’s Cross Border Payments See Yuan Overtake Dollar
On Wednesday, Reuters reported that the US dollar was surpassed by the yuan as the most-used currency in cross-border transactions in China last month, according to official statistics. In March,…
Argentina Ditches Dollar In Trade With China
On Wednesday, Argentina’s Economy Minister, Sergio Massa, announced that going forward, the country will pay for the majority of its imports from China in yuan rather than US dollars. In…
India and Bangladesh Ditch Trade In Dollars
The Bangladeshi news service The Business Standard is reporting this week that India and Bangladesh have hammered out a deal to shift away from the US dollar in bilateral trade.…
Indonesia Follows BRICS’ Lead And De-Dollarizes
A new report from SINDOnews reveals that according to its central bank, Indonesia is following the BRICS nations, and shifting its means of international trade settlement away from the US…
London Asset Management CEO Says Dollar Losing Reserve Status At “Stunning” Rate
On Tuesday, Stephen Jen, the CEO of London-based asset management company Eurizon warned that large parts of the world are now moving away from using the dollar in trade due…
Bangladesh To Repay Russian Nuclear Reactor Loan In Yuan, Instead Of Dollars
On Monday, Nikkei Asia reported that Bangladesh intends to repay a loan for a nuclear power plant being built by Russia, in Chinese yuan as a way to sidestep Western…
Head Of Philippines Central Bank Says Dollar To Lose Global Dominance
In an interview with RIA Novosti on Wednesday, the head of the Philippines central bank, Felipe Medalla, said the US dollar’s dominant position in the world will now gradually decline…
The Dollar Displaced By The Yuan On Moscow Exchange
A monthly financial market report published Monday by the Bank of Russia (CBR) revealed that the the share of the Chinese yuan on the Moscow exchange (MOEX) reached an all…
