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 …
Ashgabat is feeling the pinch from the collapse in demand for its natural gas
Russia’s total external debt shrank in the first quarter to its lowest level since 2009, the central bank said, posing few extra risks for the already battered rouble and helping Russia withstand coronavirus-related shocks. …
The Russian ruble weakened against the dollar this morning, trading more than 80 per dollar, according to data from the Moscow Exchange. The Russian currency stood at 80.85 against the U.S. dollar, a 2.6% increase, as of 10:00 …
The Russian ruble weakened against the dollar this morning, trading more than 81 per dollar, according to data from the Moscow Exchange. The Russian currency stood at 80.79 against the U.S. dollar, 1.2% weaker than at the end of last …
