Riyadh/Beijing: Saudi Arabia and China have signed a currency swap agreement worth 50 billion yuan. According to sources, this agreement was signed between the two central banks, ‘Central Bank of Saudi Arabia’ and ‘The People’s Bank of China’. Earlier this year, Saudi Arabia had hinted at using currencies other than the US dollar for fuel […]
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Washington – Former US President Donald Trump expressed concern about the future of the US dollar, saying, ‘We have something very powerful, and that’s our dollar. But take a look at what’s happening to it now with other countries not using it, and you know China wants to replace it with the Yuan, which was […]
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Seoul/ Jakarta: South Korea and Indonesia, among the five leading economies in Asia, have decided to transact in local currencies. A meeting of both countries’ central banks was recently held in South Korea. On this occasion, an agreement was signed to use the local currencies ‘Won’ and ‘Rupiah’ instead of the US dollar in trade […]
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Washington: ‘Gold is recognized as the oldest and most traditional asset used for investment worldwide. The world’s central banks are currently using this gold as a means of rebellion against the US dollar. Earlier, the dollar and gold were known as safe havens for investment. But now gold is considered safer,’ claimed American investor and […]
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Washington – When the United States uses the dollar to carry out economic sanctions, the dominance of the dollar will be at risk in the international economy, claimed the US Treasury Secretary Janet Yellen. At this time, she also admitted that countries like China, Russia and Iran are looking for an alternative to the US […]
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New Delhi: Sri Lanka has agreed to set aside US dollars and trade in Rupee with India. Apart from Sri Lanka, other countries like Russia, Mauritius, Myanmar, Malaysia, Singapore, Israel, and Germany are also willing to trade in Rupee. More than 50 countries have opened Special Rupee Vostro Account-SRBA for transactions. This clearly indicates that […]
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Dubai: Iran’s currency, the Rial, has set a new record low. As much as six lakh Iranian Rials have to be paid for one dollar and this decline has repercussions in Iran. On Friday, the value of the Iranian Rial was 5 lakh, 40 thousand per US dollar. It fell further on Saturday and the […]
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London: According to economist Nouriel Roubini, the Chinese Yuan will threaten the importance of the US dollar as an international currency. The Chinese Yuan will also become an international currency in the future. He predicts the end of the monopoly and domination of the US dollar as an international currency. In the future, the world […]
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Washington: Although the US dollar is currently at its peak, it will lose its status as a global reserve currency soon, warned Lawrence MacDonald, a former senior official at Lehman Brothers. MacDonald also cautioned that the globally used SWIFT payment system is being used as a weapon to end the dominance of the US dollar. […]
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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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