The Indian rupee plunged to an all-time low on November 4, reaching 84.1150 against the US dollar, as continued foreign investment outflows from Indian stocks overshadowed a weaker dollar that supported other regional currencies according to a report by Reuters.

Rupee hits record low amid equity outflows and US election uncertainty

The People's Bank of China has reported a significant increase in the use of the yuan for cross-border trade, with payments and receipts rising by 21.1 per cent year on year in the first eight months of 2024.

Chinese yuan use rises 21.1% in cross-border trade as Beijing seeks global currency status

Former President Donald Trump has pledged to impose a 100 percent tariff on countries that move away from using the US Dollar in international trade. Speaking at a rally in Wisconsin, Trump said any nation abandoning the Dollar would face severe trade penalties with the United States.

Donald Trump pledges 100% tariff on countries moving away from US Dollar

Trump's Tariff War: A threat to global trade?

Japanese currency yen fell to its lowest level since 1986. This has alerted traders on a possible intervention by the central bank. Japan's Ministry of Finance and Central Bank spent $62 billion in late April and early May to stabilise the currency when it fell below 160.

Japanese yen hits lowest level since 1986

Tether holdings, issuer of the largest stablecoin, is making waves with a new synthetic dollar backed by gold. This comes amid Tether's ambitions to expand beyond USDT stablecoin, a token worth $112.

Crypto giant Tether introduces new digital token backed by gold

The Indian rupee remained practically steady on Wednesday, owing to a possible intervention by the Reserve Bank of India (RBI), which helped the currency escape a record low, according to traders.

RBI intervention helps the Indian Rupee avoid record-low

Now, we look at whether the dollar is losing its global dominance. International Monetary Fund's data reveals that US dollar's dominance as the world's primary reserve currency is slowly eroding. While it remains the most widely held reserve currency, the share has been declining for the past two decades. This trend continues despite recent strength in the dollar itself.

IMF data shows gradual decline in dollar's share of global reserves

IMF data shows the US Dollar is slowly losing its grip as the world’s reserve currency. It’s still the most held reserve currency but has been declining for 20 years.

Dollar dominance fading? IMF data reveals falling share of US currency in global reserves

Watch the top headlines of the hour: - Israeli tanks seen on Gazan side of Rafah - Jordan King asks Biden to stop Rafah 'massacre' - India's top court hears Kejriwal's bail plea - Indian rupee rises against US dollar - Israel delegation to discuss Hamas proposal - India votes in Phase 3 today

India's top court hears Kejriwal's bail plea | Indian rupee rises against US dollar

The Japanese Yen is experiencing a sustained decline against the US Dollar, reaching a 34-year low. This depreciation is driven by the expectation that the Bank of Japan will maintain its ultra-loose monetary policy. While a weaker yen can benefit Japanese exports, it also pushes up import costs, leading to concerns about inflation and rising living expenses.

Japan aims to control Yen's slide amid market turmoil

The US dollar surged to three-month highs on Tuesday, propelled by robust inflation data that exceeded economists' expectations for January. According to Reuters, the Consumer Price Index (CPI) reported a 0.

US dollar hits 3-month high on strong inflation data, surpasses 150 yen mark

WION's Business Desk brings you this daily round up of global stories from the world of business and economy. US dollar hits 3-month high on strong inflation data, surpasses 150 yen mark The US dollar surged to three-month highs on Tuesday, propelled by robust inflation data that exceeded economists' expectations for January.

WION Business Wrap | US dollar’s 3-month high, Nvidia’s rising market value and more

As we head into 2024, the dynamics of geopolitics are at the core of global markets. So far, America has imposed sanctions against countries to cut them off from the global payment systems and dollars.

Is the dollar's status as a global reserve currency at risk?

Russia and China have completely abandoned the use of Western currencies, including US Dollar, in their bilateral trade, said Russian Prime Minister Mikhail Mishustin on Tuesday (Dec 19).

Russia, China completely abandon US dollar in bilateral trade, says Russian PM

JPMorgan analysts anticipate that the 2024 US presidential election, likely featuring President Joe Biden and former President Donald Trump, will elevate the dollar's status, driven by the potential for an intensified trade war.

2024 election to propel US dollar amid, predicts JPMorgan. Here's why

The worldwide effort to reduce the dollar's dominance has taken a setback, with the dollar's participation in global payments reaching a new high. An international movement led by China and Russia against the dollar's global dominance has suffered a blow, with the greenback’s percentage of global payments reaching a new high.

De-dollarisation efforts falter as US dollar's share in global trade reaches record high

Argentina's economic crisis and South American nation's continued reliance on the US dollar has resulted into an opportunity for Chinese Yuan that Bejing didn't see coming.

Argentina chooses Chinese Yuan over US dollar amid economic crisis

Reports from Egypt suggest that the country may pay for imports from India in rupees. Egyptian supply minister Ali Moselhy told Reuters that the country is looking to pay for imports from India, China and Russia in their local currencies instead of the US Dollar.

Egypt may start paying for Indian imports in rupees

Here, we bring you the news that is trending across WION's social media platforms - Ten ASEAN nations are on the verge of de-dollarisation agreeing to promote their own native currencies.

De-Dollarisation: 10 ASEAN countries agree to ditch the US Dollar

The Pakistan rupee on Tuesday hit a new record low of 287.9 rupees against the US dollar. There's no let up from the economic crisis as the country battles record-high inflation and falling foreign reserves.

Pakistan Central Bank hikes interest rates to record 21%

As a Delhi resident and economic journalist in the 1990s, I got to know first-hand what I call the Dollar Paradox. On the one hand, India was recovering from a severe balance of payments crisis in 1990/91.

The US dollar is shaky, but let us not dream of an alt-currency in a hurry

The Pakistani rupee fell to a historic low on Thursday at 255.43 rupees to a dollar. The latest fall of 24.11 Pakistani rupees came as Islamabad lifted the exchange cap to unlock a bailout from the International Monetary Fund (IMF).

Pakistani rupee slumps 9.6% to historic low against US dollar as nation seeks IMF bailout

The dollar gained against the yen, the euro and the pound on Monday after data showed that US services industry activity unexpectedly picked up in November, prompting speculation the Federal Reserve may lift interest rates more than recently projected.

Dollar gains broadly as upbeat US data muddles Fed rate hike views

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