When they begin in late March, Pakistan will pay for its energy imports from Russia in “currency of friendly nations,” a senior Russian energy ministry official said on Friday, according to Reuters. The declaration was made during the ninth meeting of the Pakistan-Russia Intergovernmental Commission, which was co-chaired by Russian Energy Minister Nikolay Shulginov and […]
The principal shareholder and co-founder of the Hong Kong-registered virtual currency exchange Bitzlato Ltd. was detained, according to US officials, on Wednesday for allegedly handling $700 million in illegal money. Russian native Anatoly Legkodymov, who resides in China, was detained on Tuesday in Miami on suspicion of running an unregistered money exchange company that “in […]
The country’s finance minister said on Tuesday that Saudi Arabia may examine trading in currencies other than the US dollar, one of the strongest indications yet that the oil-rich kingdom is open to diversifying away from the currency. Whether it is in the US dollar, the euro, or the Saudi riyal, addressing how we pay […]
According to a leading private bank in the nation, the Indian rupee, becoming Asia’s poorest performer in 2022, is projected to continue losing money in the following fiscal year. The rupee would remain weak in the next fiscal year due to “a much higher current account deficit,” according to Neeraj Gambhir, group executive for treasury, […]
The currency had its worst decline since the Central Bank of Egypt devalued the pound in late October in an attempt to seal the IMF agreement, falling 6% to 26.4 to the US dollar. Wednesday’s decline coincides with the blocking of billions of dollars’ worth of shipments at Egyptian ports due to local banks’ inability […]
The National Wealth Fund (NWF) of Russia will continue to have a limited percentage of assets denominated in currencies from “unfriendly” nations, according to a statement released by the Russian Finance Ministry on Friday. According to the announcement, as part of the NWF’s newly authorised regulatory asset structure, the proportion of the Chinese yuan will […]
The rupee saw violent swings throughout the year, often hitting its record low against the US dollar, only to finish the year with a significant fall of 22%, marking the worst 12-month period since the global financial crisis of 2008. The rupee has fallen in 18 of the 22 years since the year 2000, with […]