The Russian ruble has undergone an astonishing recovery, surging to levels not seen in almost two years, after losing over half of its value in March owing to Western sanctions. Sergey Kopylov, a junior partner at consultancy firm BSC and a lead researcher at Plekhanov Russian University of Economics, unravels the mystery of the rising ruble.
Thus far, the most severe consequence of Russia's military operation has been the exclusion of Russian banks from the global financial system. But the tide seems to be turning with petrodollar's status threatened as first shipment of Russian coal paid in Yuan is on its way to China.
A joint project between the Central Bank of Canada and the Massachusetts Institute of Technology will be researching the possibility of an entirely digital Canadian dollar, it was announced yesterday.
According to geopolitical researcher Brian Berletic, US Treasury Secretary Janet Yellen recently declared that the dollar has no major rivals in the globe, but that assertion could be "wishful thinking" on Washington's behalf. On the contrary, US sanctions on Russia could speed up dedollarisation and help the rise of Yuan.
"The payment settlement method should not be confined to a small number of people and emerging economies should diversify their forex reserves out of US dollars," says an Indian economist who has been watching the developing situation around the globe with a keen eye.
Michael Burry, the quirky hedge-fund manager made famous in The Big Short movie (played by Christian Bale), complains that no one is paying attention to crypto’s leverage. For months, he has been suggesting that bitcoin is on the precipice of collapse.
Malaysian cops seized and destroyed 1,069 bitcoin mining rigs by crushing them with a steamroller — after the miners allegedly siphoned off almost $2 million worth of electricity to power the energy-intensive machines.
Based on a tip by the CIA, Indian authorities have caught a Pakistani agent smuggling fake Indian currency notes via Dubai and Bangkok. The new notes in circulation were printed in 2016 after India's War on Cash. However, GreatGameIndia...
MUMBAI: A man who arrived on a flight from Dubai on Sunday morning was arrested for carrying fake Rs 2,000 notes with a face value of almost Rs 24 lakh. The notes were of high quality, incorporating seven of...