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Russia getting rid of US dollar matter of national security – Putin

By ethan / October 18, 2018

Sanctions are forcing Russia to find alternative settlement currencies to the US dollar to ensure the security of the country’s economy, according to President Vladimir Putin. Read more “We are moving to the de-dollarization of the economy. We are doing so not because we want to undermine the dollar, but because we want to ensure […]

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Russia & China preparing to ditch dollar for national currencies in trade – top official

By ethan / October 18, 2018

Russia’s Ministry of Economic Development said on Thursday that Moscow and Beijing are working on an inter-governmental agreement to boost the use of the ruble and yuan in mutual trade settlements. “The document is currently being prepared, the process is not easy,” said Deputy Minister of Russia’s Economic Development Sergey Gorkov, as quoted by TASS. […]

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Expect US dollar to plunge 40% against euro, forex analyst predicts

By ethan / October 17, 2018

The US dollar could severely depreciate against the euro by 2024, says forex analyst Ulf Lindahl, chief executive officer of A.G. Bisset Associates. He says the greenback is entering the cycle of losses. Read more Since the 1970s, the US currency has been repeating a 15-year cycle of losses and gains, and the greenback has […]

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Dollar monopoly slips as China & Japan dump US Treasuries

By ethan / October 17, 2018

China and Japan – the two main holders of the US Treasury securities – have trimmed their ownership of notes and bonds in August, according to the latest figures from the US Treasury Department, released on Tuesday. China’s holdings of US sovereign debt dropped to $ 1.165 trillion in August, from $ 1.171 trillion in […]

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Russia hammering out secret plan to rid economy of US dollar

By ethan / October 15, 2018

The Russian government is working on the details of a de-dollarization plan announced earlier in October. The program’s key point is to make it more profitable for key Russian exporters to use rubles instead of dollars. Read more Exporters will likely get perks like taxation benefits including quicker VAT returns and other stimulus to ditch […]

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Cutting out the US dollar: Russia & UK may switch to settlements in national currencies

By ethan / October 15, 2018

Russian and British companies could switch to settlements in rubles and pounds, abandoning US currency transactions, in case of political and economic necessity, said Boris Abramov, Russian trade representative in the UK. He told RIA Novosti that Russian firms doing business with Britain could switch to settlements in pound sterling at any moment, if necessary. […]

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Russia wants to ditch US dollar in trade with European partners

By ethan / October 8, 2018

The Russian Ministry of Finance said on Monday it may shift to the use of local currencies with European trade partners. The move will be part of the so-called de-dollarization of the Russian economy. “As we can see the main opportunity which can be realized in the short and medium term is the transition to […]

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How Russia plans to disentangle its economy from US dollar

By ethan / October 6, 2018

The Russian Finance Ministry has announced a plan to wean the country of dollar dependence. It is expected to be a long and painful process. RT has asked analysts to explain how this could be done. According to the plan published this week, Russia seeks to de-dollarize the economy by 2024. The program is long […]

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