1 / 1 Relevant items tagged with #Greenback

Posts

UBS Warns of Further US Dollar Decline, Advises Investors to Reduce USD holdings

[Oct 1 12:30 AM] Financial giant UBS expects the U.S. dollar to continue to depreciate, advising investors to reevaluate their portfolios. The bank predicts a medium-term decline due to shrinking interest rate advantages and a growing fiscal deficit. With the…

Nigeria Resumes Dollar Sales to Money Changers Amid Naira’s Decline

[Sep 10 5:30 AM] The Central Bank of Nigeria resumed selling US dollars to money changers to address the falling value of the naira. This decision came after the naira-to-dollar exchange rate dropped to a low of NGN1,639 per dollar, likely due to increased demand…

Ethiopia’s Birr Falls 30% After Currency Float; Forex Surrender Requirements Scrapped

[Jul 29 4:30 PM] Ethiopia’s birr plunged 30% against the dollar after the central bank floated the currency as part of reforms aimed at correcting foreign exchange market distortions. The bank also eliminated foreign exchange surrender requirements and lifted…

‘Our Country Is Going to Hell’ — Trump Warns of US Losing Global Currency Dominance

[Aug 17, 2023 12:00 PM] The 45th president and previous White House occupant, Donald Trump cautions that America is in danger of losing its global influence. In an interview with Larry Kudlow, Trump stated while the U.S. retains significant power, its position is “waning”…

Worldcoin Value Plummets 24% in Week Amid Increase in Unique Addresses, Strong Hold by Top Wallets 

[Aug 11, 2023 9:30 AM] In the course of the previous week, the value of worldcoin (WLD) against the U.S. dollar has plummeted by 24.6%, while a broader view of the past fortnight reveals a decline of 21.4%. Simultaneously, five days ago when the contract recorded 408,721…

HEX Plummets Over 40% After SEC Files Lawsuit Against Creator Richard Heart

[Aug 2, 2023 3:30 PM] After the U.S. Securities and Exchange Commission filed a lawsuit against Richard Heart and his companies Hex, Pulsechain and Pulsex, the crypto asset hex (HEX) has been in a free fall. Two-week statistics show HEX has lost 41.7% against the U.S…

What is De-Dollarization? Exploring the Shift Away From the US Dollar’s Global Dominance

[Jun 24, 2023 11:30 PM] From the latter half of 2022 and continuing into 2023, the concept of de-dollarization has gained significant traction, making its mark on the mainstream media. This surge in attention can be attributed to the concerted efforts of BRICS countries…

XRP Bucks Market Trend as Proponents Remain Optimistic About Lawsuit Outcome

[Jun 5, 2023 12:00 PM] Although the crypto economy has dipped 1.5% in value over the past 24 hours, XRP, the sixth-largest digital asset by market capitalization, has posted gains recently. In the last week alone, XRP has surged over 10%, and year-to-date, this digital…

Citi Analysts Predict ‘Near-Perfect Conditions’ for Silver’s Ongoing Bull Market; Experts Suggest $30 an Ounce a Possibility

[Apr 22, 2023 9:30 AM] The price of silver fell 2.85% against the U.S. dollar last week. However, taking a broader perspective, the precious metal has made significant gains this year. Over the past six months, silver has risen more than 29% against the greenback, and as…

Treasury Secretary Yellen Says US Government Will Take ‘Any Steps Necessary’ to Preserve Its Financial Dominance

[Apr 22, 2023 4:30 AM] According to U.S. Treasury Secretary Janet Yellen, the United States government is prepared to take the steps necessary to ensure its financial system remains the world’s strongest and safest. Yellen said that the U.S. government will not…

Dollar Dominance Fading Amid Growing China Trade, Russia Sanctions Risks, Ray Dalio Says

[Apr 20, 2023 4:30 PM] Fewer nations are willing to hold the U.S. dollar as America’s share in the global economy becomes smaller while China’s role in international trade expands, billionaire Ray Dalio noted. The founder of the world’s largest hedge fund also said that�

Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency

[Apr 13, 2023 11:30 AM] According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly…

EUR/USD Hits 6-Week High, as Greenback Weakens Following Fed Hike

[Mar 23, 2023 1:30 PM] EUR/USD raced to a six-week high on Thursday, as markets continued to react to the U.S. Federal Reserve’s 25-basis-point rate hike. The greenback was lower across the board, falling versus several G7 currencies, including the British pound…

Federal Reserve Hikes Rate by 25bps to Keep Inflation at Bay, Aims for 2% Inflation Rate by 2025

[Mar 22, 2023 1:05 PM] Following the fallout over the past two weeks in the U.S. banking industry, the Federal Reserve raised the federal funds rate by 25 basis points (bps) on Wednesday, citing the need for the inflation rate to return to 2% over the long run. Fed…

Bitcoin Surges by More Than 37% Against US Dollar This Week, Taps $28K on Sunday

[Mar 19, 2023 1:30 PM] Bitcoin reached a high of $28,422 per unit on Sunday at around 3 p.m. Eastern Time as the leading cryptocurrency has continued to rise during the last week. Since last Sunday, bitcoin has increased in value by 37.9% against the U.S. dollar, and the…

Redemption and Reshuffling: BUSD’s Exit From Top 10 Cryptocurrencies Shakes Market Valuations

[Mar 6, 2023 8:30 AM] It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the announcement, BUSD was once a top-ten crypto asset. However, the top ten…

Metaverse, AI, and Liquid Staking Tokens Lead Year-to-Date Crypto Asset Gains Among Top 125

[Feb 19, 2023 9:00 AM] In 2023, the leading crypto assets, such as bitcoin and ethereum, have captured decent gains. Bitcoin has increased 17.2% over the last 30 days, and ethereum has risen 9.3% in the same timeframe. However, year-to-date statistics show that bitcoin…

Privacy Coin Interest Stays Tepid as Leading Coins Report Modest Gains in 2023

[Feb 8, 2023 9:00 AM] Over the past 90 days, the top privacy coins by market capitalization have seen an increase of just over $2 billion, rising from $4.65 billion on Nov. 9, 2022 to $6.69 billion today. However, while crypto assets such as bitcoin and ethereum saw…

Meme Coin Economy Swells by $5.8 Billion in Less Than a Month, Suggesting Demand for Meme Tokens Still High

[Feb 5, 2023 11:00 AM] The meme coin economy has grown significantly over the past 27 days, increasing 34.52% against the U.S. dollar. The largest meme coin by market capitalization, dogecoin, has risen 29.5% in the past month, while the second-largest meme coin, shiba…

Metaverse Tokens Outperform Top Crypto Assets in 2023 With Decentraland’s MANA Leading the Pack

[Jan 31, 2023 5:30 PM] During the first month of 2023, the top two leading cryptocurrencies, bitcoin and ethereum, experienced double-digit gains against the U.S. dollar. Meanwhile, several alternative cryptocurrencies saw even greater increases in value, with metaverse…

Crypto, Equity, Metal Markets Plunge as Tech Earnings Disappoint and US Economic Weakness Deepens

[Jan 25, 2023 12:30 PM] Equity markets began the day in the red following the latest corporate earnings reports from some of the world’s largest firms, including Microsoft. The tech giant’s recent conference call was considered disappointing, and earnings…

Gold Prices Expected to Soar in 2023: Experts Predict Record Highs for Precious Metal

[Jan 8, 2023 10:00 AM] Gold is on the rise in 2023 and in the first week of the new year alone, the precious metal has jumped 2.36% against the U.S. dollar. Over the past 65 days, gold has soared 14.55% while silver has skyrocketed 22.31% against the greenback since Nov…

As the Fed Turns 109 Years Old, the US Dollar’s Purchasing Power Eroded by More Than 96% Since It Was Created

[Dec 25, 2022 1:30 PM] 109 years ago, the U.S. Federal Reserve was created and ever since that day, the purchasing power of the U.S. dollar has dropped a great deal. Since the Fed started, more than 96% of the greenback’s purchasing power has been erased via…