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China’s President Xi Jinping advocates for a strong currency that will allow the country to challenge the dollar’s dominance in international trade and rival its position as a global reserve currency. Xi’s remarks come as the Trump administration shows no concern about a weak dollar. President Xi Wants to Establish a Strong Yuan China seems ready to … Read more
On Monday, activity across much of Wall Street and U.S. equity markets remained subdued, while precious metals like silver and gold pressed higher. At the same time, the Japanese yen firmed sharply against the U.S. dollar, as markets responded to rising expectations of coordinated currency intervention by Japanese and U.S. authorities. Currency Watch: Why the … Read more
China has fixed the yuan at its strongest level since 2023, betting on continued U.S. policy that keeps the dollar weak. According to Xinhua, the currency has stayed below the 7 yuan‑per‑dollar mark, strengthening to 6.9843 yuan per dollar on Monday. People’s Bank of China Sets Yuan Stronger as Dollar Weakens China has signaled it is ready … Read more
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
