1 / 5 Relevant items tagged with #Dedollarization
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Nigerian Oil Marketers Denounce Oil De-Dollarization Policy
[Mar 26 2:50 PM] Olufemi Adewole, Executive Secretary of DAPPMAN, warns that Nigeria’s Naira-for-crude oil transaction framework could destabilize foreign exchange (FX), deter foreign direct investment (FDI), and worsen economic challenges. He highlights the…
Venezuelan Minister Remarks 25% of Trade Can Be Conducted Away From the US Dollar
[Mar 17 10:38 PM] Venezuelan Foreign Minister Yvan Gil stated that this new state of affairs in international trade was possible due to the push that Russia and the BRICS bloc exerted to bypass the U.S. dollar. Venezuelan Minister Yvan Gil: 25% of Trade Can Be…
US Dollar Reserve Dominance Slipping—Expert Warns Trump’s Policies Fuel the Drop
[Mar 7 2:30 AM] Trump’s policies are undermining the U.S. dollar’s role as the world’s reserve currency, a financial expert warns, as global markets and major economies seek alternatives. Trump’s Policies Fuel Global Shift Away From US Dollar U.S. President Donal
President Trump Declares the Death of De-Dollarization With Tariffs at the Frontline
[Feb 16 6:40 PM] Trump believes that by using tariffs as a weapon, he can safeguard the current U.S. dollar’s status as the world reserve currency and stop de-dollarization. So far, this has been proven right in a limited way. Trump States That Countries Have…
Zimbabwe Not Ready to De-Dollarize, Says Finance Minister
[Feb 13 8:30 AM] Zimbabwe’s Finance Minister Mthuli Ncube stated that the country must regain access to credit lines before adopting the Zig as its sole currency. He emphasized the need to restructure $21 billion in debt, as Zimbabwe has been locked out of capital…
Dedollarization Is Not Our Objective: India Clarifies Currency Goals
[Dec 8, 2024 4:30 AM] ndia rejects de-dollarization narratives, with the Reserve Bank of India (RBI) prioritizing local currency trade agreements to shield its economy from dollar volatility and global uncertainties. RBI Denies Dedollarization Goals, Focuses on Securing…
Crypto miner MARA wants US moving quicker to gobble up Bitcoin
[Nov 27, 2024 3:30 AM] MARA Holdings says there will soon be a heated race among nations to gather Bitcoin, and the US needs to step up its game.
Russia, India, Africa Advance Bold Plans to Sideline US Dollar
[Nov 12, 2024 3:30 AM] Russia, India, and several African nations are accelerating dedollarization, embracing national currencies in trade to enhance economic independence and reduce reliance on the U.S. dollar. Global Trade Gets a Shake-Up as Powers Pivot from the US…
BIS distances from Project mBridge amid BRICS sanctions concerns
[Oct 31, 2024 5:33 PM] Economic sanctions have a profound effect on international financial architecture, it turns out.
Russia Drives Dedollarization Forward With BRICS — Brazil Now Leads Next Steps
[Oct 27, 2024 4:30 AM] Russia’s push for BRICS to abandon the U.S. dollar has reached critical milestones, with formalized agreements and functioning alternatives to Western financial systems now in place. BRICS Pushes Dedollarization and Financial Autonomy Forward At…
Latam Insights Encore: Brazil Can Lead the Way to Full BRICS De-Dollarization
[Oct 21, 2024 10:30 PM] Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine the recent movements by Brazil to further push de-dollarization within BRICS and how this…
BRICS Slashes US Dollar and Euro Transactions to Below 30%
[Oct 12, 2024 3:30 AM] BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less than 30% of payments among member states…
India Denies Targeting US Dollar as Dedollarization Reshapes Global Trade
Sound Money Defense League Executive: Gold Protects Against Inflation, Fiat Risks
[Sep 29, 2024 5:20 PM] In a recent interview with Kitco News, Jp Cortez, the executive director of the Sound Money Defense League, discussed the growing sound money movement across the United States. Cortez emphasized the significance of legislative wins, such as the…
US License Expiration Imperils Russia-China Trade in Chinese Yuan
[Sep 28, 2024 11:31 PM] A U.S. license allowing transactions with key players in Russia’s financial system expires on Oct. 12. This could make it harder and more expensive for Russian businesses to trade with China in yuan. The yuan is currently the most traded…
BRICS Eyes Petroyuan for Oil Trade Amid Dedollarization Push, Expert Says
[Sep 26, 2024 1:30 AM] BRICS nations are considering adopting the petroyuan for oil trade as part of their ongoing dedollarization efforts, according to economic expert Herbert Poenisch. He noted the BRICS group may discuss alternatives to the petrodollar at their Kazan…
BRICS to Discuss Alternative Payment Platforms at Upcoming Summit
[Sep 24, 2024 12:30 AM] Russian Foreign Minister Sergey Lavrov announced that a report on alternative payment systems for BRICS nations will be presented at an upcoming summit in Kazan. The proposal, led by Brazilian President Lula da Silva, seeks to reduce reliance on…
Lavrov Says He Agrees With Donald Trump on US Sanctions Weakening Dollar’s Status
[Sep 23, 2024 3:30 AM] Russian Foreign Minister Sergey Lavrov has backed former U.S. President Donald Trump’s remarks about the negative effects of U.S. sanctions on the dollar and the American economy. Lavrov agreed that sanctions imposed by the Biden…
Zambia’s Dedollarization Plan Aims to Strengthen Kwacha Stability
[Sep 7, 2024 2:30 AM] Zambia’s latest move to restrict foreign currency use in domestic transactions is aimed at stabilizing its currency, the kwacha, according to central bank Governor Denny Kalyalya. The Bank of Zambia announced this initiative in June and is still…
Zimbabwe to Unveil De-Dollarization Roadmap, Says Government Official
De-Dollarization Faltering in Africa Because Citizens Lack Confidence in Their National Currencies
[Aug 7, 2024 6:30 AM] Despite clearly articulating reasons for de-dollarization in the Global South, African leaders will struggle to convince residents to embrace national currencies without changing economic management practices. People often lose confidence in a…
IMF Warns Zambia Against Dedollarization, Calls Plan Counterproductive
[Jul 20, 2024 9:30 AM] An International Monetary Fund representative has cautioned that Zambia’s proposed dedollarization initiative may inadvertently undermine efforts to contain inflation. The representative expressed concern that the prevailing economic conditions in…
Iran and Russia Sign Academic Cooperation Agreement to Dedollarize Economies
Putin on Dedollarization: 80% of Russia-China Trade in Rubles and Yuan
[Jul 7, 2024 6:33 PM] Russian President Vladimir Putin highlights economic integration and dedollarization at the Shanghai Cooperation Organisation (SCO) Heads of State Council meeting, chaired by Indian Prime Minister Narendra Modi. “We are making wider use of…
Jack Dorsey Envisions Bitcoin Replacing US Dollar — Foresees BTC Reaching $1 Million
Economist Jim Rickards Discusses US Dollar Decline and Potential $27,000 Gold
US Dollar Retains Global Dominance Despite BRICS Efforts, Reveals Atlantic Council Report
[Jun 26, 2024 7:45 AM] Despite concerted efforts by the BRICS nations to decrease global dependence on the U.S. dollar, the fiat currency remains the dominant force in the world economy, a new study from the Atlantic Council’s Geoeconomics Center finds. The report…
Balaji Srinivasan Highlights China’s Dedollarization and Envisions Post-Dollar Economy
[May 20, 2024 4:13 AM] Balaji Srinivasan, former CTO of Coinbase, recently shared his insights on the global economy and the future of the U.S. dollar on social media. He discussed the concept of dedollarization, suggesting that China and other countries are moving away…
Former President Donald Trump’s Advisers Explore Penalties for Nations Ditching US Dollar
[Apr 28, 2024 5:13 PM] Former U.S. President Donald Trump’s economic advisers are reportedly devising strategies to deter nations from reducing their reliance on the U.S. dollar. Proposed deterrents include export controls, currency manipulation charges, and…