Washington: The US Federal Reserve has indicated that the interest rate hike would continue to counter inflation for some time. This claim has caused the US Dollar value to jump compared to other currency rates. The Dollar has reached a 20-year-record hike in the Asian markets. The rise in the value of the US Dollar […]
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Washington: Jerome Powell, Chair of the US Federal Reserve, claimed ‘Use of cryptocurrency is rapidly increasing globally. The Federal Reserve is evaluating whether there can be an improvement in the transactions using digital currency. Federal Reserve has even published a white paper in this regard. According to that, the digital version of the USD will […]
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Washington: The United States and the other western countries have frozen the Russian foreign exchange reserves to the tune of $300 billion. The International Monetary Fund (IMF) warned that some western countries might reconsider the share of USD within their foreign reserves following this action. A leading US think tank has highlighted this issue and […]
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Moscow: Elvira Nabiullina, Governor of the Central Bank of Russia claimed that international markets, including Russia, have reduced their disposition towards the US dollar while preferring other currencies like Euro. She also claimed a significant increase in the use of other currencies for international trade. A few months back, Russia had declared to have reduced the […]
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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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Moscow/Washington: Russian President Vladimir Putin claimed, ‘The Use of the US dollar, ever since it became operational as the international currency, is being made to pressurise the world. Therefore, the world is losing faith in the US dollar.’ At the same time, Putin warned that the campaigns initiated by the United States against the Chinese […]
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London/Beijing/Washington: “As the world re-orders itself, this disconnect between the real and financial is likely to reduce, and in the process, other reserve currencies may emerge. In the first instance, I would expect these will be existing national currencies, such as the renminbi,” said the governor of the Bank of England (BoE), claiming China’s Yuan […]
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Moscow: Information has been received that the use of local currency bypassing the use of US dollar has increased in the Eurasian Union created with the Russian initiative. As per the information provided by Russia, 70% of the transactions in the first six months of 2018, by the members of the Eurasian Union were in […]
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Beijing/Washington: A Canadian financial expert and analyst has said that China will end the dominance of the US Dollar on the back of its gold reserve of 20000 tonnes. China’s economy is feeling the heat of the ongoing trade war with the US and therefore, China might take this aggressive step to defeat the US, […]
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Bishkek: ‘The United States is acting like a wild wolf. We cannot trust it,’ said Turkish President, Recep Erdogan, while appealing to discontinue the use of the US dollar for trade and investment. Turkey will not use the US dollar while dealing with other countries and it has already proposed the same to other countries, […]
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