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De-dollarization: Zimbabwe Central bank to launch gold-backed digital currency for transactions & settlement
Umang Sharma •Through gold-backed digital token, Zimbabwe's central bank aims to provide a stable means of payment and a store of values for its citizens
Indonesia follows BRICS' lead, ditches dollar for local currency
Umang Sharma •BRICS nations have been ramping up de-dollarization efforts to use local currencies in settling international trade and reduce dependence on the US dollar
Dollar Dumped: How the first China-UAE gas deal in yuan is a big blow to US
Fp Explainers •Around 65,000 tonnes of LNG imported from the UAE was exchanged for yuan in the trade between China’s national oil company CNOOC and France's TotalEnergies. Some say countries like UAE are reacting to a global power imbalance, but others question whether this will be replicated on a larger scale
Dollar Decoupled: Donald Trump warns US currency 'crashing, will no longer be the world standard'
Umang Sharma •Donald Trump, frontrunner in the race for the 2024 Republican nomination, has been outrightly critical about the state of the economy of America
Dollar falls again as receding fears of banking crisis slow demand for safe haven assets
•The dollar fell as low as 130.51 yen, and was last off 0.29 per cent at 131.2 as the Japanese currency rose
Dollar eases as traders weigh Federal Reserve's rate path, yen rises
•The Fed on Wednesday raised interest rates by 25 basis points, as expected, but took a cautious stance on the outlook because of banking sector turmoil even as Fed Chair Jerome Powell kept the door open on further rate increases if necessary
Indian rupee could be the new dollar, says ‘Doctor Doom’ Nouriel Roubini
Umang Sharma •Nicknamed as 'Doctor Doom' by Wall Street, Nouriel Roubini said overall there will be a process of de-dollarization over time
US dollar fast losing out to the Chinese yuan, says 'Doctor Doom' Nouriel Roubini
Umang Sharma •Nouriel Roubini said even though there is no currency yet which is capable of knocking the US dollar off its pedestal, but the greenback is rapidly losing its competitive advantage to the Chinese yuan
Rupee gains 12 paise to 81.76 against US dollar ahead of Union Budget
•The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 102.08
Budget 2023: Rupee poised to inch up on fall in US yields; budget, Fed outcome eyed
•The rupee is expected at around 81.75-81.80 per US dollar at open, compared with 81.92 in the previous session. The local currency posted its worst decline in about two months on Tuesday, briefly falling below the 82 level