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Stablecoins are surging in popularity across Sub-Saharan Africa, accounting for 43% of crypto transactions compared to bitcoin’s 18.1%. This trend is driven by the instability of local currencies and limited…
Nigeria began selling crude oil to billionaire Aliko Dangote’s new refinery in naira on October 1st. This “oil for naira” scheme aims to ease pressure on the struggling Nigerian currency,…
Financial giant UBS expects the U.S. dollar to continue to depreciate, advising investors to reevaluate their portfolios. The bank predicts a medium-term decline due to shrinking interest rate advantages and…
Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction…
The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member nations has already surpassed the USD-based exchanges. Using…
The Central Bank of Nigeria resumed selling US dollars to money changers to address the falling value of the naira. This decision came after the naira-to-dollar exchange rate dropped to…
Former President and Republican candidate Donald Trump announced future sanctions for countries supporting de-dollarization. At a rally held in Wisconsin, Trump declared: “You leave the dollar, and you’re not doing…
A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the…
Mercado Libre, the largest public company in Latam by market capitalization, has announced the release of its own dollar-pegged stablecoin, the meli dolar, for the Brazilian market. The development was…
Anton Siluanov, the Russian Finance Minister, pointed out that a majority of the bilateral trade with China is being conducted outside the U.S. dollar system. He stressed that over 90%…