Washington: The USD is currently at its highest level in two decades and the rest of the world’s economies are suffering the consequences. The International Monetary Fund (IMF) has warned that the USD’s strength is becoming problematic and its effects are beginning to show. This warning from the IMF is getting support from other countries […]
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Beijing: Start strong buying Chinese Yuan from around the world, selling the USD in the international market. The Central Bank of China has instructed the Chinese banks abroad, along with the domestic government and affiliated banks, should follow this instruction. It is claimed that China has taken this step to protect its currency, which has […]
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Moscow: While the President of Russia announced annexing the Ukrainian regions, Western countries indicated new sanctions against Russia. Despite these Western warnings, the Russian Ruble has strengthened against the US and European currencies. In the past few days, while the USD has hit record highs, other major world currencies have fallen. Against this backdrop, the […]
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Washington: Fear of global recession and increasing spread of Coronavirus caused a fall of about 10% in the crude oil rates in two days. The fall has brought the crude oil rates below USD 100 per barrel level. This is the first decline in crude oil rates since the start of the Russia-Ukraine conflict at […]
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Berlin/Beijing: The G7 group announced an investment of USD 600 billion to pose a challenge to the ambitious Chinese scheme ‘Belt and Road Initiative’ (BRI). The plan is named ‘Partnership for Global Infrastructure and Investment’. This G7 scheme is believed to be a part of the Build Back Better World scheme announced last year. As […]
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Moscow: Russian President Vladimir Putin announced that BRICS member countries are working on an international reserve currency and an alternative payment system. The failure of the United States to stop the Russian transactions with other countries despite the sanctions imposed is drawing the world’s attention. Therefore, the United States demands India stop fuel purchases from […]
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Jerusalem/Dubai: The United Arab Emirates (UAE) and Israel signed the Abraham agreement in September 2020 to extend cooperation. On Tuesday, Israel and UAE signed a free trade agreement as to the next step of the Abraham agreement. This is the first free trade agreement signed by Israel with any country in the Middle East, indicating […]
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Tashkent: Russia will be stressing transactions in the national currency with its trading partners. Denis Manturov, Minister of Industry and Trade of the Russian Federation, appealed that these countries also should reduce the use of USD and Euro. ‘Russia has organised an international Trade Fair’ in Tashkent, the capital of Uzbekistan. The Russian Trade Minister […]
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Tel Aviv: Until 2021, the Israeli foreign reserves had only USD, Euro and GBP. But in the current fiscal the Israeli central bank has reduced the dependence on USD and Euro and has decided to include Chinese Yuan, Canadian (CAD) and Australian (AUD) Dollars and Japanese Yen in the foreign reserves. The central bank has […]
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Washington: – Leading financial institution Goldman Sachs warned that the position of the USD as the leading international currency is under threat. Goldman Sachs has warned in its Research Note that the harsh sanctions imposed against Russia and the foreign debt in the US economy will result in USD losing its importance. The leading financial […]
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