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The Bank of Israel purchased $801 million in May to stop the shekel from rising as the currency reached one of its strongest exchange rates against the U.S. dollar. Even…
The People’s Bank of China is pushing to make the renminbi, popularly known as the yuan, an efficient international currency for international settlements. Pan Gongsheng, Governor of the People’s Bank…
China’s President Xi Jinping advocates for a strong currency that will allow the country to challenge the dollar’s dominance in international trade and rival its position as a global reserve currency. Xi’s…
On Monday, activity across much of Wall Street and U.S. equity markets remained subdued, while precious metals like silver and gold pressed higher. At the same time, the Japanese yen…
China has fixed the yuan at its strongest level since 2023, betting on continued U.S. policy that keeps the dollar weak. According to Xinhua, the currency has stayed below the…
A recent report prepared by ECB officials found that cash has maintained its relevance even in the EU, with predictions of a cashless society failing to materialize. While cash usage…
Even with the opposition of the Trump Administration, the issuance of a BRICS currency, even if it is used only for trade purposes, seems unavoidable as the bloc continues to…
BRICS is accelerating plans to ditch the dollar in favor of national currencies, as Brazil’s Ambassador to India clarifies direction on a unified currency and signals sweeping financial shifts. Senior…
Lula proposed this new BRICS currency in the context of a world that must embrace free trade and multilateralism. The Brazilian leader acknowledged that the proposal presents several challenges but…
The Pan-African Payment and Settlement System has officially launched a currency marketplace aimed at reducing reliance on the U.S. dollar for intra-African trade. No Hard Currency Involved The Pan-African Payment…