US dollar-yuan divergence trade could spin out of control without intervention from China soon The US dollar-China yuan currency divergence trade is in full flow. Unless Beijing gets a grip on the exchange rate soon, the yuan could hit 15-year … Read More
Iranian officials are reporting that Iran and China are close to signing a major deal that would expand security ties and economic ties including the banking sector. The exact terms have not yet been announced. Deal would advance both Chinese … Read More
A person holds U.S. dollars and Venezuelan bolivares in Caracas. , Bloomberg (Bloomberg) — The U.S. dollar has extended its dominance in Venezuela as locals increasingly turn to the greenback for even the smallest of purchases. Physical dollars now account … Read More
TEHRAN, Aug. 09 (MNA) – In line with the efforts to boost the economic ties between Iran and Iraq, the two neighboring countries are considering ways to include local currencies in their bilateral trades to reduce reliance on US dollar, … Read More
LAST year, 22 central banks, situated largely to the east of Germany, bought the largest amount of gold since 1967 – the year that the London Gold Pool collapsed. The gold repatriations by many European countries of the last few … Read More
The Swedish crown strengthened after an election in the country on Sunday that saw support for the nationalist Sweden Democrats surge. An emerging market currency index dipped more than 0.4 percent on Monday after booking its biggest weekly loss in … Read More
Vladimir Putin holds a gold bar while visiting the Central Depository of the Bank of Russia © Alexsey Druginyn / AFP The gold accumulated by China and Russia could be seen as part of a strategy to move away from … Read More
Russia will speed up work on reducing its dependence on U.S. payment systems and the dollar as a settling currency in response to U.S. sanctions, Deputy Foreign Minister Sergei Ryabkov said on Monday. Quoted by Reuters, Ryabkov said that “we … Read More