SCO & BRICS latest news and insights
By Davide Montagner
Amid deepening global geopolitical tensions, the recent currency swap agreement between Saudi Arabia and China is the latest in a series of initiatives that seek to put pressure on the dollar’s central role within international trade.
Last month, the People’s Bank of China (P...
By Rhod Mackenzie
In recent years, the world has faced various shocks such as pandemics, military conflicts, and sanctions. These events have led to changes in the financial system, which China is capitalising on by promoting the yuan as an alternative to traditional payment units.
Russia also...
By Rhod Mackenzie
In the last monthe of autumn , the Chinese currency ranked fourth in global payments, reaching a record 4.61%, according to the SWIFT Financial System. The growth rate of the yuan's share speaks for itself: it has almost doubled compared to last year's 2.37%. Additionally, in Oct...
By Rhod Mackenzie
During a meeting with the Chinese Premier Li Qiang on December 19, Russian Prime Minister Mikhail Mishustin stated that the use of national currencies for payment of goods and services between Russia and China has increased. What is the the potential trade turnover between the tw...
By Rhod Mackenzie
In December 2023, analysts are concluding their assessments of the past year. One clear outcome they all agree upon by the majority is the achievement of the Chinese currency.
The Financial Times reports that the yuan has demonstrated significant triumph in 2023. This is rather...
By Rhod Mackenzie
The proportion of payments made in rubles for exports from the Russian Federation to Europe has set a new record, as revealed by by a report from the Central Bank. In September 2023, over half - 54% - of payments were made in the national currency according to statistics from the...
