Russia, India, Africa Advance Bold Plans to Sideline US Dollar
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Russia, India, and several African nations are accelerating dedollarization, embracing national currencies in trade to enhance economic independence and reduce reliance on…
African Payment System Gets Banker’s Endorsement, but Viability Questions Linger
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The Pan-African Payments and Settlements System aims to formalize $50 billion in informal trade and save the continent $5 billion in processing…
Beyond the Dollar: Russia’s Path to Economic Independence Emerges
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Russia is reshaping global finance, pivoting from the dollar to local currencies as more nations rally for alternatives to U.S. dominance in…
Nigeria Unveils Amnesty Program to Recover Illegally Held Dollars Amid Forex Crisis
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The Nigerian government has announced a nine-month program allowing individuals to deposit U.S. dollars held outside the formal banking system without facing…
Does US Dollar Need to Collapse for Bitcoin to Hit $200K? Bitwise Says No
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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…
Zimbabwe Injects $50 Million to Bolster Devalued Currency
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The Reserve Bank of Zimbabwe (RBZ) has injected an additional $50 million into the market to support the foreign exchange system. However,…
Inflation, Dollar Shortage Fuel Stablecoin Use in Sub-Saharan Africa
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Stablecoins are surging in popularity across Sub-Saharan Africa, accounting for 43% of crypto transactions compared to bitcoin’s 18.1%. This trend is driven…
UBS Warns of Further US Dollar Decline, Advises Investors to Reduce USD holdings
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Financial giant UBS expects the U.S. dollar to continue to depreciate, advising investors to reevaluate their portfolios. The bank predicts a medium-term…
Ghana Launches Gold Coin Priced in Local Currency
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Ghana’s central bank launched a gold coin to boost domestic savings and manage liquidity. The coins are available in October and priced…
BRICS Beats Dollar Dependence: National Currency Settlements Exceed USD Payments
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The BRICS bloc might have already overcome its dollar-dependence problem, as the volume of settlements in the national currencies of its member…