1 / 1 Relevant items tagged with #RussianRuble

Posts

Ruble Plunges to New 2024 Low After US Imposes Sanctions Targeting Russian Banks

[Nov 28 8:20 PM] The Russian ruble weakened after the U.S. imposed new sanctions on Russian banks. Europe Reduces Reliance on Russian Gas The Russian ruble fell to its lowest level since March 2022 after the U.S. imposed sanctions on 50 Russian banks, further…

BRICS Slashes US Dollar and Euro Transactions to Below 30%

[Oct 12 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…

BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert

[Aug 14 5:30 AM] The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble…

Crypto Exchanges Bybit and Okx Drop Cards of Sanctioned Russian Banks

[Aug 30, 2023 4:00 AM] Cryptocurrency exchanges Bybit and Okx have discontinued support for payment cards issued by sanctioned banks from Russia. The moves follow in the footsteps of Binance, the world’s largest exchange for digital assets, which recently removed such…

Volatility in Chinese Yuan, Russian Ruble Makes De-Dollarization Harder, Market Analyst Says

[Aug 20, 2023 8:30 PM] A market analyst says that the recent decline and volatility in the Chinese yuan, the Russian ruble, and to a lesser extent the Argentine peso, “will only add further challenges to the idea of de-dollarization.” He stressed that countries are…

Russian Ruble Plunges to 16-Month Low vs the US Dollar — Experts Cite Oil Price Cap

[Aug 15, 2023 1:30 PM] The Russian currency’s exchange rate versus the U.S. dollar recently dropped below RUB100 per greenback — its lowest in 16 months. Economists attribute the ruble’s latest plunge to the effectiveness of a price cap imposed on Russian oil…

Putin Signs Digital Ruble Law Allowing CBDC Payments in Russia

[Jul 25, 2023 4:00 PM] President Vladimir Putin has signed into law a bill on the introduction of the digital ruble in the Russian Federation. The new legislation, which legalizes and regulates the use of Bank of Russia’s digital currency for payments and other…

Russian Ruble Falls by Over 18% in 2023, Economist Says the Currency Has ‘Stabilized’

[Jul 25, 2023 12:30 AM] After the Russian currency touched a year low versus the greenback of nearly 92 units for every dollar, economist Robin Brooks said the ruble has stabilized and may eventually be lifted by rising oil prices. The Institute of International Finance…

Russia and China Carry Out Most Settlements in Yuan and Ruble, Russian PM Mikhail Mishustin Says

[May 24, 2023 2:00 PM] The larger portion of payments between Russia and China are now processed using the currencies of the two countries, Prime Minister Mikhail Mishustin revealed. Moscow and Beijing intend to increase mutual trade beyond the $200-billion target this…

Russia and Iran Phasing Out US Dollar in Bilateral Trade Settlements

[May 19, 2023 1:30 AM] The governments of Russia and Iran are starting to phase out the usage of the U.S. dollar to conduct bilateral trade settlements. Russian Deputy Prime Minister Alexander Novak stated that 80% of Russia-Iran trade transactions are settled using…

Russian Bank Issues Bank Guarantee in Chinese Yuan Using Blockchain

[Mar 2, 2023 8:00 AM] A bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document and pointed out that demand for yuan…

Remittances to Low and Middle Income Countries in 2022 Up by 5% to $626 Billion — Latest World Bank Report

[Dec 7, 2022 6:30 AM] Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged…