Moscow: The largest Russian oil company ‘Rosneft’ has decided to permanently outcast US dollar from its transactions. In an independent release, Rosneft clarified that henceforth, the oil rates will be announced only in Euro, instead of US dollars. All the customer companies have been issued instructions regarding this and the company has already started transacting […]
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Washington: At a time, when economies like Russia and China are trying to challenge the economic domination of the United States, it has been exposed that USD, the leading reserve currency of the world, is losing its percentage share. The International Monetary Fund (IMF) has announced the information regarding the investments in the reserve currencies […]
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Moscow/Washington: Russian Foreign Minister Anton Siluanov announced that henceforth, Russia would purchase debt bonds in currencies other than the US dollar. At the same time, the Russian Foreign Minister also claimed that Russia would not need any financial assistance in the remaining part of the year 2019. Russia, consistently faced with sanctions from the United […]
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Moscow/Washington: The chief of the Russian stock market has asserted that Russia can offer investment in the Russian Gold as an excellent alternative for those investing in the US dollar. Only a few days ago, it was reported that Russia had taken its Gold stocks to 2,100 tonnes valued at $87 billion in the foreign […]
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Washington: The remittances to India from NRIs who are employed or involved in businesses abroad, have been USD 80 billion during the year, states a World Bank report. India tops the world’s list of remittances followed by China, Mexico and Philippines. The remittances have resulted in the strengthening of the Indian economy while the World […]
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Beijing: While the sale of US bonds by China in the last month was considered to be a warning shot, China has given one more shock to the United States in September. China reduced its investments in USD by 14 billion dollars. This has brought the USD share in the Chinese reserves to 1.15 trillion […]
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