BRICS to Promote National Currencies Before Issuing Common One

BRICS to Promote National Currencies Before Issuing Common OneThe BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National Fiats of […]

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India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade

India-Russia Oil Deals Chip Away at Dollar Dominance in International TradeOn Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S. dollar’s dominance in the oil trade under pressure. Sources Say Non-U.S. […]

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Low Interest Rates Provide Precarious Protection Against Crisis, World Bank Warns

Low Interest Rates Provide Precarious Protection Against Crisis, World Bank WarnsThe latest global debt wave is the largest in the past five decades, the World Bank has acknowledged in a new report. The international institution notes that previous waves of broad-based debt accumulation lead to widespread financial crises. Historically low interest rates this time might not be sufficient to avoid the next meltdown. Also read: […]

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