Alongside the BRICS de-dollarization plans, the Chinese yuan has officially overtaken the US dollar as the top traded currency in Russia. Indeed, the currency has now surpassed the greenback as the most prominent foreign exchange […]
As of September 2023, the yuan accounted for 5.8% of international payments, up from 4.82% in August, which is the highest share the Chinese currency has held in the last five years, according to SWIFT […]
De-dollarization continues accelerating with news of the Shanghai Petroleum and Natural Gas Exchange (SHPGX), a Chinese-backed exchange for trading energy-related products, settling its first cross-border transaction in digital yuan. Chinese-based financial news outlet “Yicai” first […]
It’s been a while since the market considered the possibility of a yuan devaluation: after the latest Chinese trade data it’s time to start seriously thinking about it once again. Overnight, China reported May trade […]
By George Lei, Bloomberg Markets Live reporter and analyst Chinese President Xi Jinping concluded his Russian visit on Wednesday without much progress on peace in Ukraine. China, however, has pushed for deeper trade and investment […]
NEW DELHI, Aug 10 (Reuters) – Indian companies are using Asian currencies more often to pay for Russian coal imports, according to customs documents and industry sources, avoiding the U.S. dollar and cutting the risk […]
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