Nigerian Firms Forecast Further Naira Depreciation
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…
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Mercado Libre, Latam’s Largest Company, Launches Own Dollar Stablecoin
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…
Russian Finance Minister Discloses That Over 90% of Bilateral Trade With China Is Settled Outside the U.S. Dollar System
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%…
Zimbabwe Central Bank Denies Forced Remittance Conversion Claims
The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified…
Financial Analyst Peter St Onge States Saving the Dollar Is Easy: Return to the Gold Standard
Peter St Onge, an economist and financial analyst, has explained his proposal to save the U.S. dollar from crumbling under the current central banking system. St Onge proposes returning to…
While Useful, Bitcoin Will Not Replace the U.S. Dollar, Russian Analyst Warns
Viktor Pershikov, a Russian expert in financial markets, has explored the opportunities that crypto and bitcoin will bring to Russia following the laws approved recently by President Putin. Pershikov stated…
$2.3 Billion in Dollar, Euro Bills Shipped to Russia Despite Ban
Despite Western restrictions imposed after Russia invaded Ukraine, billions of dollars and euros in banknotes have flowed into the country. This suggests that Russia has found ways to circumvent these…
BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert
The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade…
Ethiopia Announces Launch of Forex Auction Sale Days After Birr Float
The National Bank of Ethiopia (NBE) said it will conduct a special foreign exchange auction on Aug. 7. The Ethiopian central bank envisions similar auctions in the coming weeks, depending…
Zimbabwe to Unveil De-Dollarization Roadmap, Says Government Official
The Zimbabwean Cabinet has approved a de-dollarization roadmap outlining “modalities to operationalize the Zig currency as legal tender for use in the economy.” Zimbabwean officials have set early 2026 as…
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