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Tanzania’s Ministry of Tourism and Natural Resources has mandated that all fees in the tourism sector must be paid in local currency, aligning with a government directive for local transactions…
Iran and Russia have taken a significant step towards economic cooperation by involving their academic institutions in efforts to dedollarize their economies. The presidents of Iran’s Imam Hossein University and…
Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin’s value could soar to $1 million…
Economist Jim Rickards has shared insights on the U.S. dollar’s decline, driven by sanctions and mounting debt, and the potential rise in gold’s value as nations seek alternatives like the…
The Central Bank of Nigeria warned local financial institutions against rejecting older or lower-denomination U.S. dollar banknotes. The apex bank said it will take strong action against financial institutions that…
In the first half of 2024, the Nigerian currency depreciated by nearly 40%, making it the worst-performing currency during that period. Meanwhile, the Kenyan shilling appreciated by 20.7%, ranking it…
Paul Ryan, a former speaker of the House of Representatives, has assessed the possible role that stablecoins will play in fighting an upcoming U.S. debt crisis. According to Ryan, the…
Recent data from the International Monetary Fund (IMF) points to an ongoing decline in the U.S. dollar’s share of allocated foreign reserves held by central banks and governments. Economists explained…
On Wednesday, the Moscow Exchange (MOEX) announced new restrictions on its trading activities. The exchange revealed that, due to the enactment of U.S. sanctions against its platform, it would stop…
A report from the European Central Bank indicated that the euro’s share of foreign exchange reserves declined by one percentage point to 20% in 2023. According to the report, the…