The US dollar tumbled to a three-year low on Monday as market jitters mounted over US President Donald Trump’s tariff war and his escalating disagreement with Federal Reserve Chair Jerome Powell. The ICE US dollar index – which tracks the greenback against a basket of major currencies – slid more …
Read More »Ruble surges as comeback against dollar continues
The Russian ruble gained ground against major currencies on Monday, edging above 94 rubles to the US dollar for the first time since September 13, trading data from the Moscow Exchange (MOEX) showed. The ruble also rose against the European single currency, trading at 99.9 rubles to the euro as …
Read More »Trust in dollar gone – Putin
Traditional reserve currencies like the US dollar and the euro have lost their credibility as a basis for international settlements, Russian President Vladimir Putin said on Wednesday. “Western countries have undermined the foundations of the global economic system. There is a loss of confidence in the dollar, the euro and …
Read More »Russia and India no longer need US dollar – BRICS president
Russia and India don’t need the US dollar in trade, having turned to national currencies to conduct mutual settlements, BRICS International Forum President Purnima Anand told reporters on Wednesday. “We have implemented the mechanism of mutual settlements in rubles and rupees, and there is no need for our countries to …
Read More »Euro slips below dollar
The euro fell below parity with the US dollar for the second time in just over a month on Monday as investor fears of a Eurozone recession mount. The single currency slid to as low as $0.9935, before paring some losses. That’s one of the lowest levels in two decades …
Read More »Euro, dollar are ‘toxic candy wrappers’ – Russia
The globe’s top reserve currencies, the US dollar and euro, have become “toxic” for Russia, Finance Minister Anton Siluanov said on Friday. “The American and European currencies are toxic for us. What should we do with them?” he asked while speaking to students at a university in Moscow. “What do …
Read More »Ruble smashes four-year high against US dollar
The Russian ruble reached a four-year high on the US dollar and a seven-year high against the Euro on Friday. The ruble is being propelled by capital controls, the new ruble-based gas payment scheme and looming corporate tax dues, which are pushing up domestic demand for the currency. Reaching 57.67 …
Read More »Russia urges allies to dump dollar and euro in trade
Russia should increase settlements in national currencies with partner countries, Denis Manturov, head of the Russian Ministry of Industry and Trade, said at the plenary session of the Innoprom international exhibition in Uzbekistan on Monday. He was addressing countries within the Eurasian Economic Union (EAEU), BRICS and the Shanghai Cooperation …
Read More »Russia limited sanctions damage by ditching dollar – central bank
Bank of Russia Governor Elvira Nabiullina says Russia holds enough yuan and gold in its reserves to limit the impact of Western sanctions – even after Washington and its allies froze half the country’s holdings in dollars and other currencies. The regulator cut the share of dollars in reserves to …
Read More »US dollar at risk of losing dominance, Wall Street bank warns
The US dollar is dealing with some of the same challenges that the British pound faced in the early 1900s, before it went into decline, Goldman Sachs said in a research note released on Thursday. The Wall Street bank warns that the greenback could lose its global dominance. According to …
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