The People’s Bank of China emphasized the Mbridge platform’s role in improving cross-border payments through the use of central bank digital currencies (CBDCs), aiming to reduce inefficiencies and avoid new barriers. The platform, which targets underserved regions like ASEAN, could reshape global finance and challenge the U.S. dollar’s dominance while requiring careful coordination to maintain…
The political drama in the US is unfolding with new details each day. Both the US presidential candidates, Kamala Harris and Donald Trump, are amping up their efforts to woo the US citizens. In this quest, a spree of promises is being made to make America “great’ again, with Trump inching a mile ahead to…
Chris Humphrey, executive director of the EU-ASEAN business council, has warned how rising geopolitical changes are wreaking havoc on the world. Humphrey urged the bloc to adopt a united front, adding how it needs the collective strength of nations to tackle escalating global tensions. Also Read: Ripple: When Will XRP Claim $10 Price Level? A…
The US dollar’s dominance has been repeatedly threatened. While BRICS nations have been trying to roll out a currency of their own, ASEAN countries have also been seen ditching the dollar. The countries that make up the Association of Southeast Asian Nations or ASEAN want to encourage commerce in local currencies rather than the dollar….
The US presidential campaigns are inching towards their final stage, and their political undercurrents are shaping world economics. Former US president Donald Trump has already announced a trade war, adding that he may impose tariffs on countries moving away from the US dollar. If Trump is elected, his move could significantly bolster trade tensions with…
The US dollar is volatile, with market fluctuations putting pressure on its valuation and positioning. At the same time, the development is paving the way for other currencies, notably the ASEAN and several Asian currencies, to surge, sparking record-high rallies in their wake. But why are these currencies surging against the US dollar? Also Read:…
The ASEAN bloc is currently one of the most prosperous networks of nations, noting a rapid surge in their trade metrics with each passing day. The bloc is brimming with new developments, inviting high foreign interest and investment. Also Read: Cardano: Will ADA Rise Or Fall By The End Of Sept’ 2024? The Bloc’s Intra-Trade…
Donald Trump is a force to be reckoned with in the current US presidential campaign. The former US president’s strong and bold opinions have overtaken the world. In particular, Trump’s stance on the US dollar has been grabbing mainstream attention lately. His latest comments on adopting a tariff strategy to bolster the US dollar may…
The falling value of the Naira, Nigeria’s currency, has prompted the Central Bank of Nigeria to intervene. The intervention above has prompted CBN to resume US dollar sales in Naira to money changers in the hope of stabilizing the falling fortunes of their regional currency. Also Read: Top 3 Cryptocurrencies Under 50 Cents For The…
Leading financial markets worldwide are currently bracing for one of the year’s most anticipated events. The Federal Reserve has announced its decision to cut rates this September, an event that usually comes with heavy global repercussions. While the market braces for heavy dollar devaluation, certain ASEAN currencies may amp up, making the most out of…
ASEAN is currently emerging as a global trade beacon. The bloc is expanding its trade relations with China, with new data indicating a blooming trade relationship. In the past seven months, nearly $500 billion worth of trade has been conducted between ASEAN and China, a metric that continues to surge higher with each passing day….
Leading ASEAN nations Indonesia and Malaysia are currently enjoying new currency dynamics against the US dollar. As the DXY index hit new lows post-Fed Chair’s Jerome Powell speech last week, Ringgit and Rupiah emerged as scions, eclipsing the US dollar with their stellar statistics. Also Read: Global Gold Net Purchases Breach 480 Tonnes: Why Is…
Southeast Asia is increasingly becoming a central financial hub, harbouring great power and prestige. The ASEAN regions are increasingly becoming more successful, inviting foreign influx, and at the same time, have expedited efforts to end their reliance on the US dollar. This has been done while adhering to the multipolar currency narrative and pioneering the…
India is stretching its arm towards ASEAN nations, embracing the collective bloc by forging strategic collaborations. Indian Prime Minister Narendra Modi is scheduled to embark on an ASEAN tour soon, which outlines how valuable the southeast is to India regarding mutual trade and commercial proceedings. Also Read: Investors Pivot To ASEAN Amid Weak US Data…
The de-dollarization drive is currently taking over the world. The greenback is now witnessing a surge in its enemies as new foes emerge to derail its value. The US dollar is currently at a precarious threshold, with ASEAN countries expediting efforts to topple it. These countries are working on their own currency system, one that…