Cryptocurrency Market

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Finance

brics-to-promote-national-currencies-before-issuing-common-one

BRICS to Promote National Currencies Before Issuing Common One

The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National Fiats of […]

BRICS to Promote National Currencies Before Issuing Common One Read More »

‘evil-crypto’-can-be-used-in-foreign-trade,-russia’s-deputy-finance-minister-says

‘Evil Crypto’ Can Be Used in Foreign Trade, Russia’s Deputy Finance Minister Says

Cryptocurrency may be bad for investors but it can be useful in international settlements, according to a top government official in Moscow. Russian authorities intend to set up a special committee that would issue permits to operators employing crypto in foreign trade transactions, he indicated. Russia Plans to ‘Experiment’ With Cross-Border Crypto Payments Amid Sanctions

‘Evil Crypto’ Can Be Used in Foreign Trade, Russia’s Deputy Finance Minister Says Read More »

no-rate-hikes-in-russia,-central-bank-keeps-interest-rate-level-again

No Rate Hikes in Russia, Central Bank Keeps Interest Rate Level Again

Bank of Russia decided to maintain the interest rate at 7.5% amid moderate inflation, estimated at 2.5% on an annual basis in April, although this may change later this year. The monetary authority improved its forecast for the Russian economy and now expects growth entirely in positive figures, up to 2.0% for 2023. Bank of

No Rate Hikes in Russia, Central Bank Keeps Interest Rate Level Again Read More »

almost-50-russian-banks-accept-yuan-deposits-amid-low-demand-for-dollar-accounts

Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts

A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro Accounts Expected to Drop Further, Requests for Yuan

Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts Read More »

systemic-swiss-banks-not-ready-for-crisis,-regulator-says

Systemic Swiss Banks Not Ready for Crisis, Regulator Says

Switzerland’s financial regulator is not satisfied with the emergency plans of two of the Alpine nation’s five major banks. The assessment refers to a period prior to the rescue of Credit Suisse by UBS when the authority viewed the troubled giant’s preparedness in positive terms. 2 Swiss Banks Unable to Implement Recovery Plans, Finma Finds

Systemic Swiss Banks Not Ready for Crisis, Regulator Says Read More »

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‘Not the Right Time to Stop’ Rate Hikes, ECB Chief Economist Says

Current indicators suggest the European Central Bank (ECB) should raise the interest rate in May, the monetary authority’s chief economist said. Future increases will depend on the economic data but this is still not the right time to stop, according to Philip Lane who believes the bank has to bring inflation back to the 2%

‘Not the Right Time to Stop’ Rate Hikes, ECB Chief Economist Says Read More »

brics-currencies-to-have-no-alternative,-former-russian-president-medvedev-says

BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says

Fiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a whole, the Russian politician said. Ruble, Yuan, Other BRICS Currencies to Take Over

BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says Read More »

google-trends-shows-surge-in-how-to-buy-gold-and-bitcoin-searches-amidst-us-banking-upheaval

Google Trends Shows Surge in How to Buy Gold and Bitcoin Searches Amidst US Banking Upheaval

In the midst of the banking upheaval in the United States, Google Trends has revealed a notable surge in searches related to the acquisition of gold, with the search query reaching a perfect score of 100 during the first week of April 2023. Similarly, the search term “how to buy bitcoin” reached the same score

Google Trends Shows Surge in How to Buy Gold and Bitcoin Searches Amidst US Banking Upheaval Read More »

russia-to-work-with-digital-currencies-of-other-nations

Russia to Work With Digital Currencies of Other Nations

The platform developed for the digital ruble will be able to operate with different state-issued digital currencies, the Bank of Russia said. Mechanisms for interaction with digital coins minted by the central banks of other countries are already under development, the monetary authority unveiled. Digital Ruble Platform to Support Integration With Other CBDCs, Bank of

Russia to Work With Digital Currencies of Other Nations Read More »

treasury-secretary-yellen-says-us-government-will-take-‘any-steps-necessary’-to-preserve-its-financial-dominance

Treasury Secretary Yellen Says US Government Will Take ‘Any Steps Necessary’ to Preserve Its Financial Dominance

According to U.S. Treasury Secretary Janet Yellen, the United States government is prepared to take the steps necessary to ensure its financial system remains the world’s strongest and safest. Yellen said that the U.S. government will not hesitate to punish Chinese companies that violate its Russian sanctions policy. U.S. Ready to Shore up Its Financial

Treasury Secretary Yellen Says US Government Will Take ‘Any Steps Necessary’ to Preserve Its Financial Dominance Read More »