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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Mumbai – On Friday, the Reserve Bank (RBI) released a concept note announcing the e-Rupee. It has been mentioned that the pilot project of ‘Central Bank Digital Currency-CBDC’ will start soon. However, the Reserve Bank has revealed that this new digital currency of the country will not be a substitute for the currently used currency […]
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Istanbul: The rate of inflation in Turkey has increased tremendously owing to the economic policies and decisions of President Recep Tayyip Erdogan. This inflation rate has reached 83.45%. Besides, it is the first time in the last 24 years that Turkey is facing such severe inflation. It is claimed that this figure quoted in the […]
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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/Geneva: Slowdown in the Chinese growth rate and falling economic output in the United States are deepening the grip of recession in Europe. The fuel crisis in Europe, dependent on Russian fuel, will continue in the coming times. The President of the World Bank, David Malpass, warned that the economic recession crisis is hovering over […]
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Washington: The US dollar has reached its highest level in the last two decades. Compared to the dollar, the Chinese currency, Yuan has reached the bottom and recorded the lowest level. The changes recorded in the currencies of the world’s first and second largest economies are significant. With the US Federal Reserve raising interest rates […]
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Moscow: In 2014, Russia introduced an independent payment system as an alternative to SWIFT, which is widely used for international banking transactions. Officials of the Central Bank of Russia have claimed that their system, known as SPFS, is getting an encouraging response globally. Alla Bakina said that the total number of enterprises connected to this […]
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Washington: On Wednesday, the US central bank ‘Federal Reserve’ announced an increase in interest rates by half a per cent. After this announcement, the interest rate in the US reached 3.25%, the highest since 2008. While announcing this, the Federal Reserve also indicated that interest rates in the United States will be increased to 4.6% […]
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New Delhi: After the conflict in Ukraine, the United States imposed sanctions on Russia’s dollar transactions. India and Russia started trading in Rupee-Rouble to avoid the effect on mutual trade. Union Finance Minister Nirmala Sitharaman has said that many countries are eager to do business with Indian Rupee. Sitharaman expressed satisfaction by saying that the […]
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