The US dollar is soaring, surging high as the greenback resumed rallying soon after Trump was crowned as the 47th president of the United States. Trump has vowed to eliminate de-dollarization drives, promising to inflate the greenback against major currencies. His statement, however, may prove lucrative for the US. Still, it may cost other nations,…
When the rupee falls against the US dollar, the Reserve Bank of India (RBI) ‘s first instinct is to protect the currency. The RBI took potential measures to safeguard the rupee by selling millions of US dollars in the currency markets. The central bank’s intervention helped slow the downfall but failed to lift the currency…
The US dollar has reigned as the world’s most dominant currency for a staggering eight years now. The asset has played a vital role in global trade, investment, and reserves. The US dollar’s ascent and prominence come from its stability and trustworthiness as a medium for several economic activities. For instance, the US dollar accounts…
The DXY index, which tracks the performance of the US dollar, showed that the currency reached 107.06 last week. It hit an all-time high days after Donald Trump reclaimed the presidency against his Democratic rival, Kamala Harris. However, the currency dipped to a weekly low on Wednesday and is trading at the 106.65 mark. Also…
The president-elect of the United States, Donald Trump, has vowed to end de-dollarization. Trump has shared his grand plans on how he may impose tariffs on nations, making it harder for them to ditch the US dollar. At the same time, Trump may also streamline policies that may fuel the surge of greenback, which, in…
De-dollarization presents a serious threat to the U.S. economy. If the dollar loses its top currency status, the effects would be dramatic. The U.S. dollar reserve status weakening would make borrowing costs soar. Companies would struggle to get capital. U.S. business costs would rise sharply. The stock market could see a significant value drain. These…
The US Dollar has been dominating the space for a long time now. But this supremacy has been challenged by several nations across the globe. But what will countries employ if the dollar is diminished? This is where de-dollarization comes into play. A rising number of nations are attempting to lessen the influence of the…
The BRICS alliance was hellbent on kick-starting the de-dollarization agenda until the 16th summit in Russia’s Kazan region. Things have now taken a U-turn as the bloc members are slowly backtracking on the initiative. The US dollar was seen as the main villain of the global economy where local currencies were kept at its mercy….
The downfall of the U.S. dollar has begun as the BRICS bloc is looking to diminish its global stature. The alliance has taken several initiatives to bring the USD down from the world’s reserve and replace it with local currencies. The anger against the American establishment is growing and emerging economies are paving the way…
Global financial markets face major shifts as 2024 progresses forward. De-dollarization efforts take center stage as China executes a significant $2 billion sovereign bond sale through Saudi Arabia. This strategic move tests US dollar strength and signals fundamental changes in international markets, marking a new chapter in global finance. Also Read: Luckiest Man on Earth:…
The US elections, with Trump being crowned the next US president, have a multitude of repercussions for the global economy. From the domain of stocks and crypto to global politics, Trump’s meticulously planned economic strategies are affecting global economic infrastructure and impacting the currency dominions of major nations. As Trump ascends to his new role,…
Zambia’s central bank governor, Denny Kalyalya, is sounding the alarm about the strengthening U.S. dollar’s impact on Zambia’s economy. A stronger dollar, fueled by Donald Trump’s election victory, could lead to decreased capital flows, increased inflation, and reduced access to cheaper financing, the central bank argues. This is particularly concerning for Zambia, which is still…
The US political arena is undergoing a transformative change. With Trump taking over the White House, the US anatomical structure is in the queue for a revamp, the kind that prioritizes the glorious American legacy above all. Trump’s recent comments about protecting American integrity by curbing the calls for de-dollarization are set to play a…
The US dollar index has risen to its highest since July, sitting at 105 at press time. The valuation uptick strengthening the dollar index is the result of the euphoric election win that crowned Donald Trump as the 47th US president. Trump has made rather bold statements during his electoral campaigns concerning the dollar and…
Three BRICS members Russia, India, and China kick-started the de-dollarization agenda by settling a portion of their trade in local currencies and not the US dollar. The three countries have been partially successful in their quest as several oil deals were traded in local currencies. Even Saudi Arabia joined the bandwagon by purchasing Russian oil…
Russia, India, and several African nations are accelerating dedollarization, embracing national currencies in trade to enhance economic independence and reduce reliance on the U.S. dollar. Global Trade Gets a Shake-Up as Powers Pivot from the US Dollar Russia, India, and numerous African nations are advancing their use of national currencies in trade, a strategy that…
The era of de-dollarization is ending, with new analogies coming up, supporting the age of dollar dominance or “Re-Dollarization.” As contrary beliefs propagate how the US dollar has been weaponized, eroding its prestige globally, the factual dataset tells a different story. Amid the de-dollarization woes gnawing at the dollar, the factual data states how the…
The US dollar is soaring in the currency markets and is strengthening in the charts in November. The DXY index, which measures the performance of the USD, shows that the currency has climbed above the 105 mark. The USD hit a high of 105.06 and spiked 0.006% in the indices. The Indian rupee hit a…
As the bloc continues to make groundbreaking statements regarding its direction, the BRICS bloc has officially rejected a single currency plan amid its recent backtracking on the US dollar. Indeed, the alliance has announced that it is no longer developing an alternative trade currency that has been discussed by the group for much of the…
The BRICS alliance is looking to send the US dollar packing and usher into a new financial era where local currencies reign supreme. The White House pressing sanctions on emerging economies is what led the alliance to gang up against the USD. Securing their native economies is the first and foremost important choice and they…
Leading investment bank JP Morgan has warned that the new BRICS payment system could weaken the US dollar’s global hegemony. The bloc is working towards the formation of a new payment system called ‘BRICS Pay’ where a basket of currencies will be used to settle cross-border transactions. The yet-to-be-launched payment mechanism will not incorporate the…
Donald Trump’s return to the White House may lead to the euro trading at par with the U.S. dollar. Diverging Interest Rate Policies Donald Trump‘s recently confirmed return to the White House is likely to result in the European Union’s currency, the euro, trading at par with the U.S. dollar by year-end, according to predictions…
In a shocking twist for the BRICS alliance, Russian President Vladimir Putin has said that they will not ditch the US dollar. In a sit-down interview Thursday, Putin confirmed that Russia is not abandoning the dollar, it is “simply refusing to use the dollar as a settlement tool.” JUST IN: 🇷🇺🇺🇸 President Putin says Russia…
Following the highly anticipated 2024 Summit that took place in October, the BRICS alliance has said that the US dollar has signed its own ‘death warrant’ as a global reserve currency. Indeed, one alliance official recently discussed the currency and its deteriorating standing on a global scale. The bloc has sought to continue challenging the…
The US dollar has dominated global banking as the primary reserve currency for a staggering 80 years. But now, the supremacy of the dollar was being challenged. BRICS, which stands for Brazil, Russia, India, China, and South Africa, has been actively working to change the global financial system and lessen its need for the US…
Russia is reshaping global finance, pivoting from the dollar to local currencies as more nations rally for alternatives to U.S. dominance in global transactions. A New Currency Frontier? Russia’s Strategy Signals Global Shift Kremlin spokesman Dmitry Peskov emphasized on Wednesday that Russia is not attempting to undermine the U.S. dollar, but instead is committed to…
BRICS member Brazil, along with two other countries has forged a new path for cross-border payments with CBDC innovations. The Central Banks of the three countries have officially partnered to create a digital currency for trade among each other. The move will pave the way for a new financial infrastructure without the need for the…
Amid the ongoing challenge of the West by BRICS currencies, Donald Trump’s victory in the 2024 presidential election has certainly changed things for the de-dollarization outlook. The outcome led to a surge for the greenback, with the currency having its best day in eight years. The bloc has long stood opposed to the US dollar,…
Gold prices dipped after the US dollar surged in value following a Trump victory on Wednesday. The US dollar and gold prices are similar to a see-saw in the economy as one rises when the other falls. Now that the US dollar hit 104.94 in the DXY index, gold prices dipped nearly 40 points and…
The U.S. dollar experienced the biggest rally after Donald Trump won the US presidency, defeating his Democratic opponent, Kamala Harris. The DXY index, which tracks the greenback’s performance, shows the currency trading at the 104.96 mark on Wednesday. That’s a dramatic rise from a low of 103.42, which it traded yesterday minutes before the closing…
Following the highly anticipated BRICS 2024 Summit, the economic alliance has given an update on its development payment system while reiterating its focus on challenging the US dollar in 2025. The bloc had long been rumored to debut notable de-dollarization efforts this year. However, the bloc has failed to debut the long-awaited BRICS Pay platform…
De-dollarization moves beyond funds, and also money as BRICS countries are pushing for economic de-westernization. French economist Jacques Sapir presented this economic shift at the latest BRICS meeting in Kazan. These changes affect the global finance in a few important ways. BRICS is now in control of 33% of world’s money, while G7 has 29%….
Russian officials warn of major changes ahead. De-dollarization grows stronger as Dmitry Medvedev and Sergey Lavrov raise alarms about US dollar stability. They point to risks in financial stability and changes in global trade. BRICS countries are now pushing for new payment systems. The threat of a US dollar collapse affects markets worldwide. Also Read:…
A billionaire businessman from Israel, Idan Ofer has inked a major deal with the Chinese shipbuilding firm Jiangnan Shipyard. The Eastern Pacific Shipping, a firm owned by Ofer. which is headquartered in Singapore made a landmark agreement with China’s Jiangnan Shipyard for six ultra-large ethane carriers. Eastern Pacific Shipping has ordered 150,000 cubic meter (CMB)…
A U.S. dollar collapse would trigger catastrophic global upheaval, warns Dmitry Medvedev, describing a looming “explosion” with grave consequences for the entire world economy. Medvedev Warns of Grave Global Havoc if US Dollar Bubble Bursts Dmitry Medvedev, Deputy Chairman of the Russian Security Council, has cautioned that the “dollar bubble” could eventually rupture, potentially triggering…
The Mexican peso has plunged to a new yearly low against the US dollar in the currency markets this week. The USD/MXN pair shows the currency nosediving 1.50% boosting the greenback’s prospects in the forex markets. The peso is now trading at 20.04 and is attracting bullish sentiments in the charts. Also Read: De-Dollarization: 20…
The financial markets are watching Gold, Bitcoin, and US dollar movements closely before the November 5 presidential election. October’s employment report showed only 12,000 new jobs instead of the expected 106,000, and the unemployment rate stayed at 4.1%. These mixed signals have caused sharp price movements across key assets. Also Read: 750 Convenience Stores in…
Several nations have been focusing on de-dollarization, or reducing the US Dollar’s dominance, over the past couple of years. The BRICS and ASEAN, in particular, have doubled down on efforts to disrupt the dollar. From exploring the possibility of introducing a new currency to pushing trade in local currencies, BRICS and ASEAN countries have taken…
Leading investment bank JP Morgan has analyzed the future of the US dollar amid the BRICS global de-dollarization frenzy. Developing countries are looking to strengthen their native economies by using local currencies for all trade and transactions. This is adding pressure on the USD as it could lose in the supply and demand mechanism in…
The Nigerian government has announced a nine-month program allowing individuals to deposit U.S. dollars held outside the formal banking system without facing penalties or scrutiny. Finance Minister Wale Edun said his ministry will first issue guidelines for the program, followed promptly by additional guidelines from the Central Bank of Nigeria. Participating individuals will need to…
The highly anticipated BRICS Summit 2024, which took place earlier this month, has seemingly set a 36-nation commitment to challenging the US dollar’s global dominance. Indeed, the bloc saw the gathering reinforce its collective vision to challenge the international status quo. Although the gathering failed to see the arrival of a BRICS Pay platform or…
BRICS is spreading the de-dollarization initiative around the world, but the majority of countries are rejecting the idea by increasingly using the US dollar for trade settlements. While countries that are like-minded to BRICS are considering de-dollarization, the majority of nations don’t align with the initiative. Also Read: BRICS: U.S. Dollar Crisis Could Begin in…
Countries worldwide are moving away from the U.S. dollar. This de-dollarization comes as the U.S. economy struggles with serious internal problems. These issues now threaten the dollar’s global trade position more than any foreign competition. Former Federal Reserve and Treasury economists say America’s policies are the main risk to its currency’s power. Also Read: META…
A new alliance is looking up to the de-dollarization ideals of BRICS and is ready to use the upcoming unified payment system instead of the US dollar for cross-border transactions. This puts the US dollar at risk as several developing countries are planning to cut ties with the reserve currency. Also Read: BRICS: U.S. Dollar…
Leading economic groups now challenge US dollar dominance by creating their payment networks. De-dollarization is being led by BRICS, ASEAN, the Shanghai Cooperation Organization (SCO), and the Commonwealth of Independent States (CIS) as they build comprehensive new systems for trading in local currencies. These groups work to reshape the global financial system through coordinated efforts…
The Nigerian naira recently hit a new low against the U.S. dollar, ranking among the three worst-performing currencies globally. Dollar Liquidity Dries up The Nigerian naira, which has already lost over 70% of its value in 2024, recently dropped to a record low of NGN1,670.65 per U.S. dollar on the official foreign exchange market on…
Bitwise’s chief investment officer predicts bitcoin could reach $200,000 without a U.S. dollar collapse, outlining a path for the cryptocurrency to surge toward unprecedented highs. Bitcoin’s Path to $200K: No Dollar Collapse Required The chief investment officer of asset management firm Bitwise, Matt Hougan, addressed bitcoin’s potential to reach a $200,000 valuation without a collapse…
The Treasury Department sign fell sharply as Treasury Secretary Janet Yellen faced a tough question about the U.S. dollar’s reserve currency status being at risk. Treasury Sign Drops — Yellen Steadies Herself and Defends US Dollar’s Reserve Currency Status U.S. Treasury Secretary Janet Yellen discussed key elements of the U.S. economic strategy last week at…
Leading U.S. economist and gold proponent Peter Schiff has warned that the dollar crisis could begin as soon as 2025. The USD is already in a precarious position as developing countries are ending dependency on the currency. This strengthens the BRICS agenda of de-dollarization that could further weaken the U.S. dollar. It’s only a matter…
The global calls for de-dollarization have found a new footing this year. Alliances like BRICS and ASEAN have left no stone unturned to promote local currency usage and, simultaneously, echo calls for de-dollarization to push the US dollar into a corner. The currency has had a rough time lately, with ballooning US debt numbers and…