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Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’

The Reserve Bank of Zimbabwe has introduced a foreign exchange and gold-backed “structured currency” to replace the struggling local currency. The structured currency banknotes will be “fully convertible into the…

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Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts

A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits…

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