Search Results for: BRICS nations BRICS currency

Brazil and China Deepen Trade Integration to Move Away From US Dollar, as First Yuan-Based Settlement Is Processed

by

Brazil and China have reached a milestone in their economic integration, as the first bilateral settlement in Chinese yuan was completed ahead of the visit of President Luis Inacio “Lula” da Silva to China. The settlement, which was processed by the…

Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency

by

According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries…

French President Emmanuel Macron States Europe Must Reduce Its Dependence on the US Dollar to Avoid Becoming ‘Vassals’

by

Emmanuel Macron, president of France, clarified his position on the future of Europe and its relations with China and the U.S. in the short term. Returning from his visit to Beijing, Macron believes that Europe should avoid getting caught up in…

Robert Kiyosaki Says ‘America Is Dying’ — Warns of Hyperinflation, Death of US Dollar

by

Rich Dad Poor Dad author Robert Kiyosaki has issued a warning about the potential demise of the U.S. dollar and the looming threat of hyperinflation. He has expressed concern that the USD may lose its value and “become toilet paper.” Further,…

Saudi Arabia Strengthens Bond With China by Joining SCO Bloc as Dialogue Partner

by

China’s relationship with Saudi Arabia is growing as the country’s Cabinet has agreed to join the Shanghai Cooperation Organization (SCO). The diplomatic move made by the kingdom began with a memorandum of understanding in September, and at the end of March,…

India to Facilitate International Settlements in Rupees to Reduce Dependence on the US Dollar

by

The government of India has announced that it will facilitate the settlement of international transactions using its national currency, the rupee. As part of its foreign trading policy framework implemented on April 1, the country introduced this measure to facilitate payments…

Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now

by

On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was…

BRICS Nations Working on Creating New Currency to Be Discussed at Next Leaders Summit: Report

by

The BRICS nations are reportedly working on developing a new form of currency, which is expected to be discussed at the next BRICS leaders’ summit, according to a top Russian official. “The transition to settlements in national currencies is the first…

Putin, Xi Vow to Use Yuan as Russia and China Move to Settlements in National Currencies

by

As part of the talks that Russian president Vladimir Putin and Chinese president Xi Jinping are currently conducting in Russia, Russia has vowed to move to use the Chinese yuan as a settlement currency with countries in Asia, Africa, and Latam….

BRICS Nations ‘Coalescing Against the Dollar,’ Major Banks Predict More Fed Hikes, Bitcoin Records Large Blocks as Ordinals Gain Currency

by

In spite of turbulence in traditional global finance, with BRICS nations said to be pushing for de-dollarization and major banks like Bank of America and Goldman Sachs predicting further interest rate hikes from the U.S. Federal Reserve, creativity in crypto has…