Largest Russian oil company ditches US Dollar in transactions, prefers Euro

Largest Russian oil company ditches US Dollar in transactions, prefers Euro

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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Percentage of USD in the global economy declining

Percentage of USD in the global economy declining

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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Russia will not buy bonds in USD, declares Russian Finance Minister

Russia will not buy bonds in USD, declares Russian Finance Minister

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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Russian Gold would be the best alternative for the USD; claims Russian official

Russian Gold would be the best alternative for the USD; claims Russian official

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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India receives $80 billion putting India at top spot on remittances: World Bank Report

India receives $80 billion putting India at top spot on remittances: World Bank Report

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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