SCO & BRICS latest news and insights
By Sergey Manukov
Over the past few months, the Chinese Ministry of Finance has been aggressively selling US government bonds. As a result of this sale, as of the end of June, China had “only” $835 billion left, according to Business Insider. Of course, this is a lot, but not for China. The last t...
By Tao Mingyang
The yuan retained its position as the fifth most-used currency for global payments in July, with a share of 3.06 percent, according to the Society for Worldwide Interbank Financial Telecommunications (SWIFT) - the second time the currency exceeded the 3 percent benchmark.
The yua...
By Anna Koroleva
The Brazilian Finance Minister Fernando Addad said that Brazil has offered Argentina to use the yuan as a guarantee instrument in bilateral trade. Thus, TASS reports, the Chinese currency can replace for these two countries the American one, which is still used. The state bank Ban...
