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A recent report prepared by ECB officials found that cash has maintained its relevance even in the EU, with predictions of a cashless society failing to materialize. While cash usage has been slowing down in the payments arena, its adoption has grown in other ways. Study Finds Cash Is Still Somewhat King for EU Citizens … Read more
Even with the opposition of the Trump Administration, the issuance of a BRICS currency, even if it is used only for trade purposes, seems unavoidable as the bloc continues to grow to become a world power rivaling the Group of Seven (G7). Latam Insights Encore: A BRICS Currency Is Unavoidable While the dollar loses value … Read more
BRICS is accelerating plans to ditch the dollar in favor of national currencies, as Brazil’s Ambassador to India clarifies direction on a unified currency and signals sweeping financial shifts. Senior Brazilian Diplomat Addresses BRICS Currency Outlook Ahead of 2025 Summit Growing momentum among emerging economies to reduce reliance on the U.S. dollar has led to … Read more
Lula proposed this new BRICS currency in the context of a world that must embrace free trade and multilateralism. The Brazilian leader acknowledged that the proposal presents several challenges but emphasized that it is necessary for the benefit of humanity. Lula: Development of New BRICS Trade Currency Is Extremely Important The emergence of a BRICS … Read more
The Pan-African Payment and Settlement System has officially launched a currency marketplace aimed at reducing reliance on the U.S. dollar for intra-African trade. No Hard Currency Involved The Pan-African Payment and Settlement System (PAPSS) has launched the African Currency Marketplace, a major step toward reducing reliance on the U.S. dollar for intra-African trade settlements. This … Read more
The government of Argentina has finalized a deal with the IMF for a 48-month credit facility worth $20 billion to support the ongoing macroeconomic stabilization of the nation’s economy. President Javier Milei also announced the end of long-standing currency controls. Argentina Gets $20 Billion Credit From IMF, Lifts Currency Controls The government of Argentina has … Read more
Brazil backs BRICS’ push to trade in national currencies, urging reduced U.S. dollar reliance despite business preference for its liquidity and dominance in private transactions. BRICS Accelerates Local Currency Trade as Brazil Declares Full Support for Shift Brazil’s Finance Ministry has reaffirmed its dedication to expanding the use of national currencies in trade between BRICS … Read more
The Central Bank of Nigeria (CBN) has dismissed as fake news a report stating it issued ₦5,000 and ₦10,000 banknotes to enhance cash transactions. The CBN said the report, circulating on social media and claiming the new banknotes would become legal tender on May 1, 2025, did not originate from its official website. The report, … Read more
The Central Bank of Nigeria has raised concerns over illegal currency dealers charging premiums of 20–40% on naira banknotes. Threat to Naira Credibility The Nigerian central bank has raised alarms over the growing practice in which illegal currency dealers charge a premium on local currency banknotes. According to Olayemi Cardoso, the governor of the Central … Read more
For a long time, the cryptocurrency market has been a place for large institutional players and high-risk traders to roam. These traders seek to route the market and take it in whichever direction ensures they get a payoff. One such trader has recently turned some heads by making very large, very leveraged bets in the … Read more
