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The U.S. dollar is likely to remain the world’s dominant reserve currency due to the absence of credible challengers. Morgan Stanley suggests that the Chinese yuan, often considered a potential…
Russia will start to purchase Chinese yuan for its international reserves as soon as this month, according to reports from Russian economists. While analysts state that the purchases will be…
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…
The economy minister of Argentina, Sergio Massa, announced that starting this month, payments for imports coming from China will be settled using the Chinese yuan. The agreement, which will allow…
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 struck a bilateral deal with…
A bank in Russia has issued the country’s first blockchain-based bank guarantee denominated in Chinese currency. The financial institution underscored the advantages of using a digital form of the document…
Following Russian president Vladimir Putin’s statements at the end of June that indicated members of the BRICS nations have formalized plans to create a new “international reserve currency,” Russia is…