We delve into the high-stakes world of global oil trade, where Russia faces a formidable challenge in one of its most lucrative routes. The decades-long dominance of the U.S. Dollar in international oil transactions is now under scrutiny due to political hurdles and the complexities of currency conversion. India, asserting its position as a major buyer, insisted on paying for oil in rupees. This demand collided with informal guidance from the russian central bank, signalling non-acceptance of the currency. The consequence? Nearly derailing trading activities.

India's currency clash threatens major Russian oil routes

Bitcoin (BTC) is a cryptocurrency that acts as money and a form of payment. It was invented in 2008 by an unknown entity under the name Satoshi Nakamoto.

Bitcoin enters its sweet sixteen

The South African rand endured a significant setback on Thursday, sliding to a four-month low, as concerns over the currency's vulnerability mounted. Investors eagerly await cues from upcoming U.

South African rand tumbles to 4-month low amidst anticipation of US jobs data

Less than a year after the euro stood on par with the US dollar, concerns of the common currency sliding back to that level are once again surfacing in market discussions, Bloomberg reported.

Euro faces pressure as parity concerns resurface amid surging US yields

Australian coins will soon have the image of King Charles III, more than a year after the death of Queen Elizabeth II. On Thursday, the chief executive of the Royal Australian Mint, Leigh Gordon, announced that the Australian dollar coin will be the first to have an image of the new British monarch, who also happens to be Australia's head of state.

Australian coins with image of King Charles III to come in circulation by Christmas this year

After the naira devaluation earlier this year, the Nigerian central bank ordered the country's lenders to put any profits from the fall in the currency into reserves to protect against potential losses.

Nigerian banks under pressure amid currency devaluation

India's central bank is nudging local banks to ask their clients to settle trade between the United Arab Emirates and India using the Dirham (AED) or Indian rupee (INR) to reduce US-dollar-based transactions, according to sources cited by Reuters.

India central bank nudges banks to settle UAE trades in Rupee, Dirham

South Asia's local currencies have had a roller coaster ride for the last couple of years. This story gives a report about the Indian rupee, Pakistani rupee, Sri Lankan rupee and Bangladeshi taka.

South Asia's currency rollercoaster: Pakistan's rupee in freefall

Russia may partially reintroduce capital controls to prevent the rouble from falling to levels not seen since the start of the Ukrainian conflict, according to a Bloomberg report.

Russia discusses return to capital controls to stem rouble slump: Report  

India is likely to look at key partners in Latin America and Africa to establish bilateral agreements to carry out trade deals using local currencies, after the United Arab Emirates (UAE) and Indonesia.

Brazil, South Africa may be next for India’s bilateral currency settlement plan: Report 

India and the UAE have signed a currency agreement allowing the use of the rupee and dirham for cross-border trade. The move marks a significant milestone and could pave the way for more bilateral currency agreements signalling the potential internationalisation of the Indian rupee. The decision reflects a broader trend of emerging economies seeking to reduce reliance on the US dollar, questioning its supremacy as the world's default currency.

India-UAE trade pact: Step towards de-dollarisation?

Sri Lanka has notified the Indian rupee as a designated currency, Indian External Affairs Ministry Spokesperson Arindam Bagchi said on Thursday (July 20). "In terms of trading in our national currencies, Sri Lanka has already notified India Rupee as designated foreign currency in their system," Bachi said during a weekly media interaction in New Delhi.

Sri Lanka notifies Indian rupee as designated foreign currency, enabling trade

Nigeria's currency, the Naira, has reached a historic low following the recent dollar auction conducted by the central bank, Bloomberg reported on Wednesday. The auction conducted by the central bank saw dollars sold at a naira rate nearly 30 percent weaker than the tightly controlled official market rate.

Naira Hits All-Time Low Amidst Grim World Bank Report on Nigeria's Economy

The World's undisputed king of currency is facing a fresh set of challenges. The US dollar has always dominated global trade while being the world's reserve currency. Nations around the world are, however, sceptical about US Dollar. They want to reduce this dependency on single foreign currency. Taking an initiative, BRICS nations are trying to attract hangers-on by whipping up talk of a rival currency.

Is BRICS raging against the US Dollar an exercise in futility?

Treasury Secretary Janet Yellen on Monday said the US won’t be able to pay all its bills by early June, and as soon as June 1, if Congress doesn’t raise the debt ceiling.

Treasury Secretary says US won’t be able to pay all bills by June without increase in debt ceiling

Indian banks exchange Rs 2,000 notes ahead of Demonetisation 2.0

West Bengal Chief Minister Mamata Banerjee on Friday hit out at the BJP-led Central government after the Reserve Bank of India (RBI) notified to withdraw Rs 2,000 denomination banknotes from circulation and termed it "billion dollar dhoka" urging people not forgive those responsible for such a move.

'A billion-dollar dhoka': Mamata Banerjee takes jibe at centre after RBI withdraws ₹2,000 note

The US Fed has raised borrowing rates to 5.25% since March 2022, a level not seen in at least 16 years. Markets have reacted sharply to the monetary tightening. But the big question among investors is: when is this tightening going to stop? What's the outlook for the rest of 2023 and beyond?

Fed's Monetary Policy Outlook for 2023: Will Fed raise borrowing rates or Pause?

The Reserve Bank of India removed 2,000 rupee notes from circulation on Friday. Until September 30, 2023, the central bank has invited banks to offer 2,000 note deposit and exchange services.

India: Reserve Bank of India to withdraw ₹2000 notes from circulation

South Africa's currency, the rand, has plummeted to an all-time low, causing widespread concern among investors and experts. Reuters reported that the rand dropped by as much as 2.

South African Rand hits rock bottom, takes a dive amid multiple turmoils

Cryptocurrency exchange Bittrex INC filed for bankruptcy protection three weeks after the US securities and exchange commission accused it of operating an unregistered securities exchange.

Crypto Chaos: Bittrex files for bankruptcy

Law enforcement agencies from around the globe arrested 288 people suspected of buying or selling drugs on the dark web. In a pair of press releases posted on Tuesday, the US Department of Justice and Europol said the joint effort also resulted in the shutdown of the dark web marketplace, Monopoly Market.

US: International dark web marketplace bust leads to 288 arrests

The Reserve Bank of India (RBI) has given permission to banks from 18 countries to open Special Vostro Rupee Accounts (SVRA) and use Indian rupees to settle payments.

RBI allows banks from 18 countries to trade in rupees. What does it mean?

Amid the ongoing global geopolitical tensions, countries are moving away from Dollar. Several nations have banded together to de-dollarise the global trade. Watch this video for all details.

Is the Indian Rupee challenging the Dollar's dominance in global trade?

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