The Central Banks of Iran and Russia are seeking to create a gold-backed stablecoin for use in foreign transactions, in a gambit to further cut trade ties with the U.S. dollar. rather than fiat currencies like the dollar. According to a recent report by Russia's news agency Vedomosti, both countries--sanctioned by various Western nations on import and export restrictions--would be working on a ...
Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez have reportedly said the two countries aim for greater economic integration that includes the development of a common currency.
Bitcoin traded higher this morning, with the cryptocurrency prices trading above the $18,800 level on Friday. Ethereum, also traded higher, surging past the key $1,400 mark on Friday. Aptos was the top gainer over the prior 24 hours, while Fei USD turned out to be the biggest loser.
Allianz chief economic adviser and noted economist Mohamed El-Erian believes the retreating dollar indicates how the markets are reassessing the Federal Reserve's policy vis-a-vis other advanced economies. What Happened: The dollar index fell significantly this week following the release of the employment data that showed December payrolls rose more than expected.
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