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The US dollar is the most important currency in the markets that controls and dominates the world’s financial sector. Almost all cross-border transactions, trade settlements, and foreign exchange conversions are conducted using the USD. Local currencies are far behind with little to no chance of becoming the global reserve currency. This gives the White House the power to weaponize the currency and control the world’s trade and finances. BRICS has decided to put an end to the US dollar domination by giving local currencies a chance to compete against the greenback. Also Read: BRICS: US Dollar Is Now an Unreliable Currency, Say Analysts Here’s What Will Happen If BRICS Ends US Dollar Reliance Source: realmoney.thestreet.com The BRICS alliance is scheming to replace the US dollar with either a new currency or their local currencies. The bloc is divided in the prospects but is united to achieve the goal by hook or crook. They also confirmed that despite slow progress, the...

The world has now entered into a new financial phase where multipolar currencies are at play at large. This transition is particularly impacting the US dollar, as the constant weaponization of the USD coupled with the local currency narrative catching pace has compelled the banks to diversify their assets. In this wake, will the US dollar be able to handle the surge of new assets that are eyeing its crown with ambitious eyes and intentions? Also Read: Shiba Inu Whale Buys 131 Billion Coins: SHIB Rally Incoming? US Dollar Has A New Competitor Now Source: Freepik.com The consistent rise of de-dollarization drives has always broadcasted a major outlook, streamlining how the world has had enough of dollar supremacy. The countries at large want to diversify, transact in local currencies, and at the same time, want to liberate themselves from the constant dollar weaponization that has led them to find USD alternatives. “A stronger USD would weaken its role as a reserve currency. If acce...

The US dollar has sparked a major rally against a basket of currencies this week. The USD rally was primarily sparked by the Federal Reserve’s decision to cut rates by 25bps, bolstering momentum for the dollar to take charge of. This development has led USD to exude prestige over other currencies, crushing currencies like INR and Canadian dollars in the process. Also Read: Ripple: Here’s What XRP’s Immediate Price Target Is? Canadian Dollar Goes For A Toss Source: PlanetSpark The US dollar has emerged stronger on all fronts as it recently sparked a rally, defeating its global peers in the process. Per the Kobeissi Letter, the US dollar has managed to beat the Canadian dollar for the first time since March 2020, ushering in a wave of change in the recent currency dynamics. For the first time since March 2020, one USD is now worth $1.44 Canadian dollars, as currency dynamics continue to evolve with new elements setting in. “For the first time since March 2020, $1.00 US Dollar is now wort...

The Indian rupee has finally broken out of its dry spell and has regained strength against the US dollar. The rupee has noted a slight price uptick as compared to the US dollar, helping the Indian currency note a higher price pedestal in the last 5 months. Also Read: Crypto Chaos: PNUT Token Owner Sparks Lawsuit Against the Community US Dollar vs. Indian Rupee: What Is Happening? Source: iStock The Indian rupee has finally broken its consistent slump against the US dollar. The INR rose by 17 paise, opening at 84.37 and closing at 84.46 in earlier trading sessions. At the same time, the bond yields also opened at 6.8268% from 6.8710% in earlier sessions as well. The surge noted in INR was primarily sparked by the massive election win that brought the Bharatiya Janata Party-led alliance, the mainstream Indian political regime, and its collaborators to win the majority of seats in the Indian state of Maharashtra in ongoing elections. The BJP-led alliance, touted as the “Mahayuti alliance,...

Elon Musk has commented on Dogecoin (DOGE) inflation, saying that the currency’s flat inflation is a feature, not a bug. The asset has boomed in the past month thanks to Donald Trump’s US election win, as the President-elect says Elon Musk will join his staff. Musk will reportedly head the new Department of Government Efficiency, conveniently coined the “DOGE” department. JUST IN: Elon Musk says he thinks the flat, decreasing inflation of Dogecoin $DOGE is a feature, not a bug. — Watcher.Guru (@WatcherGuru) November 13, 2024 According to Elon Musk, the flat inflation of Dogecoin, which means decreasing percentage inflation, is supposed to appear. Musk responded to a tweet by Billy Markus, the creator of Dogecoin also known as Shibetoshi Nakamoto, where Markus explained how to remove the inflation of dogecoin. Agreeing with Musk that this was ideal for something like DOGE intended as a currency, Markus added Dogecoin will have “predictable inflation wi...

Apr 21, 2024 at 11:51 // Price Author Coin Idol The following altcoins are the best-performing cryptocurrencies, even though their value is falling due to Bitcoin's recent decline. The cryptocurrencies are also trading in their own bull markets. Despite the decline, the altcoins continue to trade in the uptrend regions. Bitget Token The price of Bitget Token (BGB) is in an uptrend and in a bull market. The crypto currency value has risen above the $0.38 support and has resumed its upward movement. The altcoin rose to a high of $1.37 and began a sideways...

On August 3, the HashKey and OSL trading platforms announced that the No.1 and No.7 licenses were officially upgraded to become licensed trading platforms for retail users in Hong Kong. The HashKey trading platform will also cooperate with Standard Chartered Bank and Morgan Stanley Asia ZA BANK to provide users with fiat currency deposit and withdrawal services. In addition, the platform also opens compliant OTC transactions. After the opening of retail trading, what are the highlights in the coming year. 1. Possible Tokens for Retail Trading According to new regulations issued by Hong Kong in March, licensed platform operators wishing to provide virtual assets to retail customers must ensure that the selected virtual assets are qualified major virtual assets and meet the following specific token inclusion criteria: “Qualified major virtual assets” refer to virtual assets included in at least two “accepted indices” launched by at least two independent index providers; licensed platfor...