BRICS makes a $260 billion trade transaction using local currencies
This year, the BRICS nations, including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, and the United Arab Emirates, are pushing even harder to ditch the US dollar in global trade. They’re all in on boosting their own currencies. This big move is meant to pump up their economies and give them more control […]
Japanese Yen Hits 34-Year Low Against US Dollar
On Monday, the yen experienced a notable surge against the dollar, attributed to efforts by Japanese officials to bolster a currency that had been performing poorly, reaching its lowest point in more than 30 years. The dollar dramatically dropped to 155.01 yen from an earlier high of 160.245. According to banking sources, Japanese banks were […]
India continues to be shady, gets into currency manipulation
Ah boy. India faces allegations for the third time this year of intentionally selling off US dollars to prevent a drop in its currency value, according to a recent report by Reuters. This manipulation led to a dramatic swing in the Indian rupee, which hit a record low of 83.61 against the dollar this week, […]
Dollar gets back on top: Overtakes yen, yuan, and rupee
The US dollar is on a rampage this week, showing who’s boss in the currency exchange game. It’s been a tough time for some major Asian currencies that once posed a threat to the dollar’s dominance as the global reserve currency. Now, these currencies are taking a nosedive. Just this month, the dollar flexed its […]
China’s yuan overtakes United States’ dollar in global markets
The tussle over global currency dominance has ramped up, with the Chinese yuan charging ahead of the US dollar. The yuan is making significant strides, especially in central and offshore financial dealings within Russia, hinting it might soon outshine the US dollar. Yuan Gains Ground in Russia According to a Reuters report, the yuan has […]
Mexico’s peso continues to outperform US’s dollar
The Mexican peso is turning heads and wallets alike as it climbs the ladder of global currencies, leaving the US dollar grappling with its depreciating charm. Recent trends showcase the peso’s rapid appreciation against a backdrop where the US dollar has been losing ground, marking a shift in economic dynamics that could redefine financial power […]
Dollar is having so much fun right now – And the catalyst?
The dollar has been tearing up the charts, notching its most impressive weekly performance since the jarring days of 2022. A fresh batch of U.S. inflation data has sent waves across global financial markets, starting a rally that has investors rethinking their strategies. Just this week, the insufferable U.S. currency has surged 1.7% against a […]
Mexican peso surges as US dollar dips
The stage is set, and the players are in motion, the Mexican peso is on an absolute tear, leaving the US dollar to lick its wounds in the corner. This is a full-on bull charge with the peso flexing its muscles at an impressive rate. As of the latest tally, this Latin currency powerhouse is […]
Zimbabwe turns to gold in efforts to permanently ditch US dollar
Buckle up, because Zimbabwe’s going for a wild ride down Gold Lane, ditching the US dollar like it’s out of fashion. Under President Emmerson Mnangagwa’s regime, this southern African gem is shaking up its monetary system yet again. This time, they’re pulling a bold move by introducing a new gold-backed currency. The Birth of the […]
Half of U.S. now in recession as dollar’s depreciation persists
Times are tough, and it’s not just the talk of the town—it’s what’s happening on the ground. The U.S. finds itself caught in a relentless grip of economic slowdowns and financial setbacks, a scenario echoed loudly by Game of Trades on X. This platform, known for its cutting-edge financial insights, just dropped a bombshell of […]
Nigeria set to ditch dollar for local currency in oil trade
Nigeria is taking a risk that might change its economic trajectory in an international context where the US dollar is generally considered the de facto dominant currency. Despite suffering a defeat at the 15th BRICS conference in Johannesburg, the African giant is still looking to strengthen its own currency, the Naira, and increase its financial […]
FOREX dollar soars to a 2-month high as traders abandon rate cut predictions
The foreign exchange market, commonly known as FOREX, experienced a significant development as the US Dollar surged to a two-month high against major currencies. This upward movement was attributed to the Federal Reserve’s diminishing expectation of aggressive rate cuts. Traders, grappling with the market dynamics, recalibrated their bets, leading to a boost in the Dollar’s […]
BRICS & Bitcoin: The duo set to dethrone the dollar in 2024 – Morgan Stanley
Two powerful forces, BRICS and Bitcoin, are emerging as potential game-changers that could reshape the international monetary system. The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, represents a formidable coalition of major emerging economies that have joined forces to challenge the existing economic order. On the other hand, Bitcoin, the pioneering crypto, […]
Yuan trades lower than US dollar in two decades
For the first time in two decades, a seismic shift has occurred in global finance, with China’s Yuan plummeting beneath the might of the US dollar. This development rattles the cages of traditional economic power dynamics, marking a crucial juncture in the ongoing BRICS de-dollarization efforts. The Dedollarization Story So Far The journey away from […]
Russian businesses swap dollars for yuan in record numbers
The tides of international finance are shifting dramatically, with Russia at the helm of a significant change. In a bold move, Russian businesses have increasingly been exchanging their U.S. dollars for Chinese yuan, a trend that not only underscores the growing economic synergy between Russia and China but also highlights the geopolitical undercurrents reshaping global […]
JPMorgan predicts China’s yuan dethroning the US’s dollar
The global financial landscape is on the brink of a monumental shift, with JPMorgan throwing a spotlight on the Chinese Yuan’s potential to unseat the US Dollar from its long-held throne. This prediction isn’t just a casual remark in the world of currencies; it’s akin to forecasting a tectonic shift in the very bedrock of […]
Central banks go for gold in bold move to safeguard dollar
In a world where economic chess is the game, central banks have made a power play, amassing a record-breaking 374.1 tons of gold in 2023. This isn’t just any gold rush; it’s a strategic maneuver to fortify the US Dollar amidst the growing influence of the BRICS alliance and their de-dollarization plans. The message is […]
BRICS plots the ultimate takedown of the US dollar
As we step into the era of geopolitical shifts and economic transformations, the BRICS alliance (Brazil, Russia, India, China, and South Africa) emerges as a formidable force, plotting what could be the ultimate takedown of the US dollar’s global dominance. The year 2024 marks a critical juncture in this journey, with the bloc’s concerted efforts […]
Russia, Iran finally dump the US dollar for good
In a bold move that shakes the foundations of international trade, Russia and Iran have officially turned their backs on the US dollar. This decision, a strategic pivot towards utilizing local currencies in their bilateral trade, marks a significant shift in the global economic landscape. The move not only challenges the dollar’s dominance but also […]
China, Saudi drive BRICS’ push to erase dollar in global economy
The global financial landscape is undergoing a dramatic transformation, with the BRICS alliance – Brazil, Russia, India, China, and South Africa – at the forefront of a daring initiative to challenge the supremacy of the US dollar. The year 2023 has been a landmark period for this bloc, particularly with the inclusion of powerhouse nations […]
The crypto week ahead as BTC sets trade at $45K – Here’s your market guide
Welcome to “The Crypto Week Ahead,” your comprehensive market guide as we navigate the dynamic landscape of the digital currency space. As Bitcoin takes center stage and sets its trading course at $45,000, the crypto markets are poised for another week of intrigue, volatility, and potential opportunities. Crypto markets head into a make-or-break week The […]
UAE officially stops using dollar for oil trades
The global financial landscape is witnessing a seismic shift as the United Arab Emirates (UAE) boldly moves away from the US dollar in its oil trade dealings. This strategic pivot aligns with the broader ambitions of the BRICS economic alliance, of which the UAE is a recent addition. The changeover, involving the transition to local […]
Dollar ditched as investors eye peak interest rates
The recent shift in the financial world is as clear as day: the mighty dollar is losing its charm. Investors, riding the wave of speculation that the US Federal Reserve’s interest rate hike marathon is nearing its finish line, are rapidly offloading their dollar holdings. This isn’t just a hunch; it’s a trend backed by […]
Egypt, India abandon dollar completely
Egypt and India, in a strategic alignment with the BRICS bloc’s de-dollarization efforts, have initiated discussions to eliminate the US dollar from their trade relations. This bold move is a part of a growing trend among BRICS nations to reduce dependence on the US dollar in international trade, and it signifies a significant shift in […]
The dollar is going down in 2024 – 3 reasons why
The prominent bloc group of top nations dedicated to releasing financial independence, BRICS, has been recently quoted noting 3 reasons that might fister de-dollarization endeavors. The group comments that the efforts might be on a fast track till next year. BRICS has been noted to aim its focus on reducing the influential power on global […]
Russia warns of U.S. running out of paper for dollar printing
In a striking statement that has raised eyebrows in the international community, Russia has warned that the United States might soon run out of paper to print dollars needed to service its burgeoning debt. This bold claim comes amidst a flurry of activity in the foreign exchange markets by Russia, a prominent member of the […]
Dollar poised for 3-month high against Yen, cryptos on the rise
According to market data, the US dollar is rising and targeting its best week in the past three months over the yen. On Friday, this revelation came to light after the Federal Reserve Chair and reviews from Federal Officials iced market expectations on the peaking US rates. Cryptocurrencies saw a rise in their market values […]
BRICS doesn’t need a new currency to defeat USD
As the BRICS nations coalesce around the ambition of reshaping the financial world order, the whisper of a new currency intended to challenge the U.S. dollar has been echoing in the corridors of global finance. This move by BRICS, which includes Brazil, Russia, India, China, and South Africa, embodies a defiance against the long-standing dollar […]
African countries ponder abandoning USD permanently
The recent developments in global finance have sparked a potent dialogue within the African continent, spearheaded by Kenyan President William Ruto, who has vehemently advocated for a paradigm shift in the economic dealings of African nations. A clarion call to abandon the long-standing reliance on the U.S. dollar in favor of local currencies is gaining […]
BRICS considers realistic dollar replacement strategies
Within the ambit of global finance, the BRICS consortium is charting a new course, one that might see the dominance of the US dollar wane. The perennial reign of the dollar, solidified by the Bretton Woods accord, now faces scrutiny as the BRICS nations ponder alternatives. The bloc’s quest to decentralize global economic power from […]
Argentina shifts from dollar to yuan for IMF settlement
Argentina, forging a bold path as the newest BRICS member, has embarked on a groundbreaking financial maneuver by settling a substantial International Monetary Fund (IMF) payment with the Chinese Yuan. This pivot away from the traditional stronghold of the US dollar speaks volumes of the financial duress faced by the nation—dwindling dollar reserves have compelled […]
India accused of US dollar-rupee trade manipulation
India stands accused of a bold move in the global financial arena. Reports suggest that the nation, a key BRICS member, dumped a colossal amount of US dollars in the market. The underlying objective? To prevent the Rupee, India’s native currency, from plummeting to an unfavorable position. This audacious play is causing quite a stir […]
BRICS vs. dollar: The power play that awaits sanction lifting
The ever-evolving global financial dynamics consistently face new challenges, reshuffling power equations across the world. One such colossal tectonic shift seems to be underway, as the BRICS nations — Brazil, Russia, India, China, and South Africa — take a staunch stance against the U.S. dollar. The recent U.S. sanctions on Russia and Iran, two prominent […]
Inside Indonesia’s startling plan to ditch USD soon
The global financial landscape is shifting, and Indonesia is riding the crest of this tidal wave. As nations grapple with economic strategies to remain afloat, a move away from the long-revered U.S. dollar seems to be gaining traction. Indonesia, the Southeast Asian archipelago, has taken an audacious step in this direction, potentially reshaping its financial […]
Dollar soars to 6-month apex before central bank shakeup
The financial world is in for a rollercoaster ride as the dollar climbs, threatening other major currencies with its newfound dominance. There’s a storm brewing on the horizon, and as we delve deeper into the world of finance and exchange, we discover a compelling narrative of economic maneuvers, currency fluctuations, and an impending central bank […]
BRICS’ India makes strong moves to ditch dollar
When it comes to international economic power plays, one can never underestimate the steps nations take to maintain their sovereignty and growth. The BRICS nations, an alliance of Brazil, Russia, India, China, and South Africa, have long been viewed as an economic counterweight to the West’s dominance. But in recent times, it’s India’s brazen stance […]
Dollarization will be the downfall of Argentina
When discussing global economies, Argentina’s choice to fully dollarize stands out as a stark example of misguided ambition. It’s a dicey gamble, one that many financial experts are wary of, given the country’s tumultuous economic past and the lessons of history. Argentinian presidential hopeful, Javier Milei, fervently believes that dollarization is the balm for the […]
Vladimir Putin condemns the weaponization of the US dollar
In the recent Russia-Africa Summit held in Saint Petersburg, Russian President Vladimir Putin and Dilma Rousseff, President of the New Development Bank (NDB), engaged in discussions about the challenges faced by the bank in the current international arena. Vladimir Putin expressed concerns over the weaponization of the dollar and its impact on the global economy, […]
Circle CEO warns Congress about threats to the dollar
Circle CEO Jeremy Allaire, has sounded the alarm about the United States dollar’s position as a global reserve currency. In a two-minute video released by Circle on July 13, Allaire directed his message to lawmakers, emphasizing the urgent need for Congress to regulate stablecoins. Circle CEO wants urgent regulation of stablecoins The call for action […]
Iraqi government cracks down on Dollar usage in bold move to empower national currency
As a sovereign move to bolster its national economy, the Iraqi government has banned US dollar transactions to encourage using the national currency, the Iraqi dinar. This development, a sharp response to the expanding black market exchange rates, comes amid a rapidly growing chasm between the official and black-market exchange rates, which has stirred public […]
