
Dollar supremacy undermined as petrodollar ally joins Shanghai Cohort
How China is using diplomacy to dethrone the USD and establish Renminbi as global currency
How China is using diplomacy to dethrone the USD and establish Renminbi as global currency
Central Banks globally have accumulated gold reserves this year at a pace not seen since 1967.
The year proved to be a roller-coaster, not only from the geo-political perspective but also from the point of view of asset management and economics.
The rupee opened at 82.68 against the US dollar at the interbank foreign exchange.
Other currencies such as the British pound, the Japanese yen and the Euro have weakened more than the Indian rupee against the U.S. dollar, says the Centre
Analysts expect rupee to further decline this week, just short of the 80 per dollar mark, amid strong dollar, recession and FII outflows.
RBI on Monday put in place an additional arrangement for invoicing, payment, and settlement of exports and imports in the Indian rupee.
Analysts are apprehensive that the rupee might slip towards 78 levels if the macroeconomic difficulties persist.
The rupee opened at 77.17 against the US dollar at the interbank foreign exchange.
An IMF research report shows a strong negative correlation between the reserve issuer's public debt and reserve shares.