Tag: US Dollar

Global Economy Could Split Between US Dollar, Other Currencies: IMF Deputy Chief

March 23, 2022
Business & EconomyeconomyEuropeForexGita GopinathIMF - International Monetary FundInternationalMarketsRussia-Ukraine WarUS DollarWorld
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The Russia–Ukraine War could trigger a fragmentation in global payment systems, deputy head of the International Monetary Fund (IMF) Gita Gopinath said during a March 22 virtual discussion, indicating a possible global shift away from the U.S. dollar. “What we are seeing around the world is increasing fragmentation of payment systems that probably will further…

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Beijing Wants to Make the Yuan International, Without Releasing Capital Controls

March 22, 2022
ChinaChina Business & EconomyOpinionThinking About ChinaUS Dollaryuan
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News Analysis Beijing wants the yuan to be truly global, but this will be impossible unless the Chinese Communist Party (CCP) releases its capital controls and allows the currency value to be set by the markets. Even then, the dollar will most likely continue to be the world’s currency. Over the past two months, the…

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Will Saudi Arabia Ditch the US Dollar in Favour of the Yuan?

March 21, 2022
Chinese YuanOpinionUS DollarViewpoints
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Commentary There are numerous articles mentioning that Saudi Arabia may use the yuan, China’s domestic currency, for its oil exports. How much does Saudi Arabia export to China? According to the OEC, the kingdom’s main exports are to China ($45.8 billion), India ($25.1 billion), Japan ($24.5 billion), South Korea ($19.5 billion), and the United States…

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Japanese Yen Jumps While Dollar Dives on Pessimistic Vaccine Outlook

November 30, 2021
Business & EconomyCOVID-19 VaccinesMarketsOmicronUS Dollaryen
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The Japanese yen jumped toward 113 against the U.S. dollar on Tuesday while the greenback slid against its rivals after Moderna CEO Stephane Bancel said COVID-19 vaccines are unlikely to be as effective against the Omicron variant of the CCP virus as they have been with other types. In an interview published on Tuesday, Bancel said he predicts…

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China’s Currency Weapon a Boon for US

November 29, 2021
AnalysisCCPChinaChina Business & EconomyChinese YuanOpinionThinking About ChinaUS DollarUS-China relations
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News Analysis If China “dumped” all of its U.S. debt and U.S. Treasury bills in a single day, it would lose a lot of money, decrease its ability to purchase raw materials, and benefit the U.S. Fed that would buy up the Treasury bills at a discount. There are five international currencies that central banks…

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Prototype of 1st US Dollar Coins Auctioned for $840,000

April 24, 2021
prototypeUSUS DollarUS News
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A piece of copper that was struck by the U.S. Mint in Philadelphia in 1794 and was a prototype for the fledgling nation’s money was auctioned off for $840,000, considerably more than expected, an official said. Heritage auctions spokesman Eric Bradley said the “No Stars Flowing Hair Dollar” opened at $312,000 when it was put…

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