BRICS member China is looking to promote local currency swaps with 29 developing countries worth 4 trillion Yuan, which is equivalent to $553.49 billion. The bilateral currency swaps could facilitate trade and investment options by […]
Daily Standup Top Stories Exploding Energy Prices in California March 13, 2024 Mariel Alumit “California leaders know that rising prices are a huge problem. The state is now considering a plan to tie utility rates to personal income […]
Ahmed Adel, Cairo-based geopolitics and political economy researcher On Monday, Union Commerce and Industry Minister Piyush Goyal said that many large and small economies around the world have expressed willingness to start trading in rupee […]
China’s renminbi keeps losing ground, after initial progress. But the tiny “other” reserve currencies combined are taking share from the USD. By Wolf Richter for WOLF STREET. The US dollar has been the dominant global reserve currency for […]
Oil Price A fifth of global oil trade this year was settled in currencies different from the U.S. dollar as countries such as Russia and China move away from the petrodollar. This is according to […]
Many countries are abandoning the greenback since it is used as a political tool, Vyacheslav Volodin has said The US has lost its economic dominance, Russian State Duma Speaker Vyacheslav Volodin wrote on his Telegram […]
Russia and China have completely abandoned the use of Western currencies, including US Dollar, in their bilateral trade, said Russian Prime Minister Mikhail Mishustin on Tuesday (Dec 19). While speaking during a meeting with his […]
China’s government has frozen a US$6.5-billion reinforcement of its currency swap with Argentina agreed in October with former president Alberto Fernández amid tensions over the relationship with new head of state Javier Milei. Sources from […]
Armando Cavanha is a global thought energy thought leader with years of experience with Big Oil and is now a professor with international reach. Please follow Armando on his LinkedIn here: https://www.linkedin.com/in/cavanha/ Some of the […]
BEIJING, Nov 20 (Reuters) – The People’s Bank of China and the Saudi Central Bank recently signed a local currency swap agreement worth 50 billion yuan ($6.93 billion) or 26 billion Saudi riyals, both banks […]
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