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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New Delhi – The government has instructed Indian traders and banks to avoid using the Chinese Yuan while doing business with other countries. Claims are being made that the government gave this instruction and the Reserve Bank of India as relations between India and China are strained. The news about this has been published by […]
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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: 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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Washington/Moscow: Russia is exploring options to overcome sanctions imposed by the West. One of the options is that Russia is planning to buy large amounts of foreign currency. Leading US website Bloomberg has claimed that Russia is planning to buy currencies of friendly countries, which include the Chinese Yuan. Following this report, the Chinese Yuan, […]
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Colombo: ‘Yuan Wang 5’, a Chinese ship capable of capturing sensitive information needed for espionage and attack, was scheduled to visit Sri Lanka’s Hambantota port. This has increased the threat to Defence bases on the southern coast of India and ISRO’s satellite launch base at Chandipur. Therefore, there were reports that India would take serious […]
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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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Tel Aviv: Until 2021, the Israeli foreign reserves had only USD, Euro and GBP. But in the current fiscal the Israeli central bank has reduced the dependence on USD and Euro and has decided to include Chinese Yuan, Canadian (CAD) and Australian (AUD) Dollars and Japanese Yen in the foreign reserves. The central bank has […]
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Taipei: – Cheng Ming-tong, a senior Taiwanese security official, warned ‘The United States and western countries banned the use of Russian Ruble after the Ukraine war. The value of the USD also is on the decline. Taking this opportunity, China can globalise its currency Yuan.’ Ming-tong made a striking claim that this war could help […]
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Riyadh/Beijing: – Saudi, which has been selling crude oil only against the USD for the last five decades, has started preparations to start selling oil against the Chinese Yuan. Detailed discussions are being held between China and Saudi for this purpose. If the talks are fruitful, it will be a significant jolt for the USD […]
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