Russia’s capital Moscow and 10 other cities will host pilot tests for the digital ruble, Bank of Russia Deputy Governor Olga Skorobogatova announced. Over a dozen Russian banks are going to take part in the trials with real transactions and users scheduled to commence in mid-August. Russia Prepares to Pilot Operations With New Digital Ruble […]
Category: Currency
Saudi Arabia Extends Oil Production Cuts, Further Irking US Officials
Saudi Arabia announced it will continue limiting oil production through September, extending output reductions that have drawn criticism from Washington. Riyadh Holds Firm on Oil Output Limits Saudi Arabia said Thursday it will keep oil production nearly one million barrels per day below its quota for another month, according to a statement from the Saudi […]
Japanese Yen Hits 20-Year Low Against US Dollar; BOJ Maintains Loose Policy Amid Inflation Pressures
In the last month, Japan’s official currency has dipped slightly more than 1% in comparison to the U.S. dollar. Then, on Tuesday, the Japanese yen plummeted to its weakest position against the greenback in over 20 years, a shift that came after the Bank of Japan opted to keep its extremely loose monetary policy unchanged, […]
Ukraine’s Gold and Currency Reserves Now Largest Ever, Says Central Bank
Chairman of Ukraine’s National Bank thanks Western partners for cash as reserves now the largest in history.
China Sells Dollars in Desperate Bid to Keep Yuan Afloat
The People’s Bank of China (PBOC), central bank for the Chinese Communist regime, on Tuesday pushed a massive sale of dollars by state banks in a desperate bid to prop up the cratering yuan.
Balaji Srinivasan Highlights De-Dollarization Past of Biden’s Top Economist
Former Chief Tech Officer at Coinbase, Balaji Srinivasan, took to Twitter to remind his followers about Jared Bernstein’s earlier stance on de-dollarization. The angel investor sees logic in views that the new White House top economist has now abandoned, on the U.S. dollar’s status as a global reserve currency . Not a Bitcoin Maximalist — […]
Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals
People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote. Turkish Investors Seek Safe Haven in Stablecoin Tether Despite […]
Putin Wants Limit on Currency Purchases for Russians Dealing With Foreigners
Russian citizens and firms doing business abroad may soon be restricted in the amount of foreign currency they are allowed to acquire, on order from Vladimir Putin. Russia’s head of state now wants his government to cap such purchases on the domestic forex market. President Putin Orders Russian Authorities to Limit Foreign Currency Purchases Russian […]
Socialist Dictator Maduro Wants to ‘De-Dollarize’ Venezuela, Using Zimbabwe as Role Model
CARACAS, Venezuela – Socialist dictator Nicolás Maduro proclaimed on Wednesday that the de-dollarization of world trade is “inevitable,” the latest in a series of statements against the U.S. currency.
Push to Use National Currencies in SCO Cannot Be Stopped, Russia’s Lavrov Says
Efforts to transition to trade in national currencies in the Shanghai Cooperation Organization (SCO) can no longer be stopped, according to Russian Foreign Minister Sergey Lavrov. During a meeting with his colleagues in India, Moscow’s top diplomat also discussed the similar initiative within BRICS. Sergey Lavrov Convinced SCO Countries Will Switch to National Currencies, Won’t […]