Tokyo / Washington – The world’s central banks have increased gold purchases in the face of declining dollar value in the global economy, rising inflation and the corona crisis. This year, various central banks worldwide added more than 400 tonnes of gold to their reserves. These include Thailand, Brazil, India, Singapore, Uzbekistan and Hungary. Thailand’s […]
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Dubai: The position taken by the US on the dollar is forcing the allies and partners of the US to look at alternate systems. At the same time, the effects of the Russia-Ukraine conflict create an environment to accelerate efforts to create a parallel and alternate financial system to the existing global financial system. In […]
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New Delhi: India’s economy is doing well compared to other countries, despite the shocks of huge upheavals at the international level. This is because the country’s economy is built on not one but many foundations. This has created the ability of India’s economy to withstand international shocks, said Ashima Goyal, member of the Monetary Policy […]
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New Delhi: The central government is making special efforts to ensure that international transactions happen in Indian Rupee (INR). Union Finance Minister Nirmala Sitharaman has said that Reserve Bank has taken necessary steps in this regard. Moreover, Sitharaman gave this information in a written reply to a question asked in the Lok Sabha. Last month, […]
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Moscow: Russia’s President Vladimir Putin has warned that sanctions imposed on Russia by the West over the Ukraine conflict have led to a global economic crisis, food shortages and starvation among several developing countries. Russia is facing tough sanctions, and its economy is slowly recovering, he said. Amid Putin’s claims, Russia’s currency, the Ruble, has […]
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Washington: If the Chinese government intends to make its currency Yuan the global reserves currency, they have to implement more reforms. The International Monetary Fund (IMF) advised that China will have to lift restrictions on the capital marketplace and decide to make the currency fully convertible. Gita Gopinath, the Chief Economist at the IMF, gave […]
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Paris: – Fatih Birol, the Chief of the International Energy Agency (IEA), issued a serious warning that taking into account the lead position of Russia in the international energy sector, sanctions imposed against this country could trigger a global energy crisis. Many leading countries, including the European countries, are dependent on Russian fuels. The oil-producing […]
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London: – The demand for Gold is seen to be rising on the international level and the World Gold Council informed that the demand for Gold exceeded 4,000 tonnes in the last year. As per the report ‘Gold Demand Trends 2021’, Gold demand increased by 10% in 2021. The World Gold Council said that the […]
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Washington/Dubai: – US President Joe Biden has decided to open the Strategic Petroleum Reserves to bring down the fuel prices in the country. Along with the United States, China, Japan, Great Britain, South Korea and India will also open up some of their reserves. Fuel prices in the international market have been steadily rising for […]
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London: The gold bonds are observed to be in great demand, against the background of the warnings issued regarding the impending global recession. As per a report published by the international group, World Gold Council, the investments in ETFs (Exchange Traded Funds), backed by gold, have registered an increase in investment by a whopping 426%. […]
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