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Renowned economist Jim Rickards explained that buying gold to back the dollar would restore confidence in the currency, avoiding a long-term decline. He stated that the currency should not be…
The Reserve Bank of Zimbabwe (RBZ) has injected an additional $50 million into the market to support the foreign exchange system. However, industry leaders believe the bank is not doing…
The Central Bank of Nigeria (CBN) is launching a new electronic system (EFEMS) to improve transparency in the foreign exchange market. This comes as the Nigerian currency weakens. Authorized dealers…
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…