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Ghana Launches Gold Coin Priced in Local Currency

[Sep 30, 2024 9:35 PM] Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced based on the London Bullion Market Association auction price. Despite efforts to strengthen the cedi…

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…

Bitcoin's Potential Rally Amid U.S. Dollar Weakness

[Sep 6, 2024 2:03 PM] Bitcoin and the U.S. dollar have a long-standing inverse correlation, notably when observing the Dollar Strength Index (DXY). When the dollar weakens, Bitcoin often gains strength, and this dynamic might now be setting the stage for restarting the…

Payments in National Currencies Surge to 92% Among SCO Members

[Sep 1, 2024 2:30 AM] Payments in national currencies among Shanghai Cooperation Organization (SCO) members have reportedly increased from 40% in 2022 to 92%, signaling a move away from reliance on the U.S. dollar. Similar to the BRICS economic bloc, the SCO, which…

Nigerian Firms Forecast Further Naira Depreciation

[Aug 24, 2024 12:30 AM] A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The…

Bitcoin Price Could Surge 200% To Cross $100,000 If This Happens

[Aug 20, 2024 6:30 AM] A crypto analyst has predicted that Bitcoin (BTC), the world’s largest cryptocurrency could see its price surging as high as $100,000, representing a 200% increase from its current value. However, the analyst noted that this bullish projection…