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3232Saudi Arabia Open to Trading in Currencies Other Than US Dollar, Signaling a Shift Toward De-Dollarization
https://www.digit.info/saudi-arabia-open-to-trading-in-currencies-other-than-us-dollar-signaling-a-shift-toward-de-dollarization/
Thu, 19 Jan 2023 15:30:17 +0000https://www.digit.info/2023/01/19/saudi-arabia-open-to-trading-in-currencies-other-than-us-dollar-signaling-a-shift-toward-de-dollarization/Read more]]>After a 48-year relationship solely with the U.S. dollar, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, said the kingdom is open to trading in currencies other than the U.S. dollar. The statements follow China’s president, Xi Jinping, urging the Gulf monarchs to accept yuan for oil, and Riyadh officials saying last March the country would consider […]
]]>Nigerians Shun Local Currency— Seek to Protect Wealth From Inflation and Currency Depreciation with Foreign Currency
https://www.digit.info/nigerians-shun-local-currency-seek-to-protect-wealth-from-inflation-and-currency-depreciation-with-foreign-currency/
Fri, 23 Apr 2021 10:30:07 +0000https://www.digit.info/2021/04/23/nigerians-shun-local-currency-seek-to-protect-wealth-from-inflation-and-currency-depreciation-with-foreign-currency/Read more]]>Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use of dollars exceeds IMF’s 30% threshold. Exchange Rate Volatility and Currency […]
After a 48-year relationship solely with the U.S. dollar, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, said the kingdom is open to trading in currencies other than the U.S. dollar. The statements follow China’s president, Xi Jinping, urging the Gulf monarchs to accept yuan for oil, and Riyadh officials saying last March the country would consider […]
Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use of dollars exceeds IMF’s 30% threshold. Exchange Rate Volatility and Currency […]