Special drawing rights

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Targeting the US Dollar’s Hegemony: Russia, China, and BRICS Nations Plan to Craft a New International Reserve Currency

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While inflation data in Europe and the U.S. has risen significantly higher last month, Russia and members of the BRICS countries revealed leaders in the five major emerging economies are in the midst of “creating an international reserve currency.” Analysts believe the BRICS reserve currency is meant to rival the U.S. dollar and the International … Read more

Bitcoin’s Market Cap Is More Valuable Than the IMF’s Special Drawing Rights Reserves

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At its current price per unit, the decentralized cryptocurrency Bitcoin’s market valuation has surpassed the overall value of the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $281 billion). Since the massive global market rout on March 12, bitcoin has risen over 323% since the crypto asset’s $3,600 low in 2020. The price of … Read more

Central Bank Digital Currencies Take Center Stage at IMF Spring Meetings

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Central bank digital currencies (CBDCs) featured prominently when global financial leaders met for this year’s World Bank Group and International Monetary Fund (IMF) joint Spring Meetings in the United States. Faced with emerging disruptive technologies like Bitcoin, their discussions also focused on how money and payments are taking on new forms throughout the world. There … Read more