International use of the yuan has set a new record by one measure for the first time in more than five years, thanks to a recent jump in foreign investment in Chinese equities and bonds denominated in the currency
The dollar increased by 0.42% to 75.025 rubles on the Moscow Exchange as of 9:37 Moscow time. The last time the dollar rate was above 75 rubles on May 4, 2021. By 9:51 Moscow time, the dollar rate accelerated growth to 0.47% …
The dollar fell by 0.44% to 71.98 rubles on the Moscow Exchange on Wednesday. The last time the dollar was below 72 rubles on July 28, 2020. By 10:34 Moscow time, the dollar slowed down to 0.33% and reached 72.06 rubles. At the same …
Russia will eliminate the dollar from its National Wellbeing Fund, shifting to euros, yuan and gold, Finance Minister Anton Siluanov said, as the Kremlin seeks to reduce exposure to U.S. assets amid threats of sanctions. "We can …
The dollar exchange rate declined by 29.05 kopecks to 73.2965 rubles on the Moscow Exchange on Monday. The euro exchange rate dropped by 29.53 kopecks and amounted to 89.3778 rubles. The Russian ruble also …
Turkey’s lira tumbled to a new record low of 8.6 versus the dollar on Friday as it took a hit from global inflation concerns, expectations that the central bank will soon cut rates and worries over possible early elections. The …
The share of U.S. dollar-denominated assets in the world's foreign reserves sank for the fifth straight year in 2020 to 59%, its lowest level in a quarter century, as emerging economies like China and Russia diversify holdings amid concerns …
The emergence of China as an economic and financial powerhouse has been much quicker than often anticipated. Whether in terms of technological advances, industrial development, global trade or involvement in the capital markets, China's …
Moscow’s multi-year push to reduce Russia’s exposure to the dollar hit a major milestone as the share of exports sold in the U.S. currency fell below 50% for the first time, Bloomberg writes. Most of the slump in dollar use came from Russia’s trade with China, more than three-quarters of which is now conducted in euros, according to central bank data published late Monday. The common currency’s share in total exports jumped more than 10 percentage points to 36%, the data for the fourth quarter show
Despite warm words from Biden, U.S. secondary sanctions against Iran, Russia and others punish European companies and prompt new calls for strategic autonomy, The New York Times writes. The new Biden administration is making nice with the European Union, talking of renewed cooperation and suspending retaliatory tariffs stemming from an old dispute between Airbus and Boeing
Russia is gradually reducing the share of the U.S. dollar in the US economy and foreign exchange reserves, Russian State Duma Speaker Vyacheslav Volodin said. "For example, within the framework of the EAEU, settlements in national …
Russia must take urgent steps to cut its use of the dollar to a minimum as the new U.S. administration of Joe Biden signals it will ramp up sanctions, a top diplomat said, Bloomberg …
On the eve of Joe Biden’s inauguration as US president, the European Commission will launch a new offensive to promote the use of the EU’s single currency on a global level, aiming to address the vulnerabilities of financial …
Russia’s rouble firmed for the first time in five days on Monday as oil prices jumped on hopes of prolonged cuts in output, while emerging market stocks jumped to a more than two-year high on signs the economic rebound in China was gaining momentum
The U.S. currency will plunge 36% against the euro over the next year
Russia and China have reduced the use of the dollar in bilateral transactions by almost half, and in the future, this may result in the creation of a "financial alliance", Japanese Nikkei Asian Review reports. According …
Issuing the world’s reserve currency comes at too high a price
Chief executive of Russia’s Sberbank German Gref said that the Russian ruble may strengthen at 60-62 rubles per dollar at year end. According to him, Russia's national currency is closely related to oil prices, but they …
The dollar exchange rate declined below 70 rubles for the first time since March 6 during the today's trading on the Moscow stock exchange. As of 11:59 Moscow time, the dollar lost 0.50 rubles and was worth 69.64 rubles, while …
