The Chinese yuan is now China’s most used currency for cross-border settlements. According to official data from the State Administration of Foreign Exchange, the Chinese
Read more
Brazil and China Deepen Trade Integration to Move Away From US Dollar, as First Yuan-Based Settlement Is Processed
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
Read more
Hong Kong’s Largest Virtual Bank Offers Crypto Conversion Services
ZA Bank, Hong Kong’s biggest virtual-only lender, intends to expand its business into the region’s growing digital assets sector. The banking platform will offer crypto-to-fiat
Read more
Analysts Weigh In on BRICS Currency as Tool to Face US Dollar-Based Sanctions
Analysts have begun considering using a future BRICS currency to sidestep U.S. sanctions and the dollar’s influence in international markets. While the rise of the
Read more
Russian Central Bank Attributes Recent Ruble Depreciation to Lower Forex Sales by Exporters
The Russian central bank has attributed the ruble’s latest plunge against the U.S. dollar to the temporary reduction “in sales of foreign currency earnings by
Read more
China Makes Advances in Ditching the US Dollar for Settlements — Inks Deal With Brazil and Completes First Yuan LNG Purchase
China has been advancing its goal of positioning the yuan as an alternative to the U.S. dollar for settling international payments. The Chinese government recently
Read more