Browsing Tag
Chinese Yuan
216 posts
China & Egypt Agree To Settle in Local Currency, Move Away From US Dollar
China and Egypt have officially agreed to settle cross-border transactions in local currencies and move away from the…
The US Dollar Appeared in 89.2% of All Currency Trades in 2025
The use of the US dollar for cross-border transactions is on the rise, despite developing countries advancing de-dollarization…
China Expands De-Dollarization to Europe, Allows Deutsche Bank To Clear Yuan Payments
For the first time, China has granted a European financial entity, Deutsche Bank, the authority to directly clear…
De-Dollarization Hits a Wall
China was the first to kick-start the de-dollarization agenda by leveraging the US sanctions on Russia in February…
Libya Turns to China’s Payment System to Cut US Dollar Dependence
Libya is taking China’s assistance to cut its US dollar dependence and is rewiring trade deals with the…
Chinese Yuan Makes Inroads in Africa’s US Dollar-Dominated Trade
The Chinese yuan is steadily gaining ground in Africa, with the currency penetrating trade and commerce, which were…
Goldman Sachs Says Chinese Yuan Will Strengthen Against the US Dollar
Leading global bank Goldman Sachs wrote in a note to clients that the Chinese yuan is at least…
Crude Oil Payments in Chinese Yuan Triples, Aides De-Dollarization
After the US, Israel, and Iran war broke out in late February, the procurement of crude oil came…
BRICS Accelerates Dollar Exit, Yuan Settlements Jumps To $214 Billion
Developing countries are accelerating the de-dollarization agenda by exiting the US dollar from trade and transactions. BRICS members…
BRICS New Development Bank Touts Chinese Yuan For Global South Funding
The BRICS New Development Bank (NDB) is touting the Chinese yuan for funding across the Global South. China’s…