Bookmarking Crypto Insights
Auto Added by WPeMatico
Zimbabwe’s central bank, the Reserve Bank of Zimbabwe (RBZ), has injected over US$50 million into the interbank foreign exchange market to stabilize the economy. This move comes as the parallel market exchange rate is significantly higher than the official rate, causing economic instability. The RBZ aims to increase foreign currency supply, reduce pressure on banks, … Read more
Analysts have commented on the U.S. dollar trend following President Joe Biden’s decision not to seek re-election, noting a slight decline in the dollar against a basket of currencies. Bank of America’s head of global foreign exchange research mentioned: “There is a growing consensus that the dollar will be stronger if Trump wins due to … Read more
Digital investment products are witnessing solid buying, but it may take a stronger trigger to propel Bitcoin to a new all-time high. Go to Source
An International Monetary Fund representative has cautioned that Zambia’s proposed dedollarization initiative may inadvertently undermine efforts to contain inflation. The representative expressed concern that the prevailing economic conditions in Zambia are not conducive for the country to proceed with the de-dollarization proposals. Zambia Not Ideally Placed to Dedollarize The International Monetary Fund (IMF)’s Zambian representative, … Read more
Tanzania’s Ministry of Tourism and Natural Resources has mandated that all fees in the tourism sector must be paid in local currency, aligning with a government directive for local transactions to use the country’s shillings. This requirement applies to Tourism Business Licence fees, filming permits, and visiting fees. Previously dollar-denominated payments will now be converted … Read more
Bitcoin and altcoin traders set their sight on new all-time highs now that BTC price is back above $63,000. Go to Source
Iran and Russia have taken a significant step towards economic cooperation by involving their academic institutions in efforts to dedollarize their economies. The presidents of Iran’s Imam Hossein University and Russia’s Plekhanov University of Economics signed a memorandum of cooperation last week to collaborate on initiatives aimed at reducing reliance on the U.S. dollar in … Read more
Billionaire Jack Dorsey foresees a future where bitcoin could supplant the U.S. dollar as the dominant global currency. He envisions a scenario where bitcoin’s value could soar to $1 million by 2030. Highlighting the cryptocurrency’s decentralized nature, Dorsey underscores its potential to democratize financial systems and reduce reliance on traditional banking institutions. Jack Dorsey Anticipates … Read more
Economist Jim Rickards has shared insights on the U.S. dollar’s decline, driven by sanctions and mounting debt, and the potential rise in gold’s value as nations seek alternatives like the BRICS currency. He warns that internal mismanagement is the greatest threat to the dollar’s stability, stating to the U.S. government: “You’re taking confidence for granted. … Read more
The Central Bank of Nigeria warned local financial institutions against rejecting older or lower-denomination U.S. dollar banknotes. The apex bank said it will take strong action against financial institutions that refuse to accept mutilated or overcirculated local currency banknotes. Older U.S. Dollar Banknotes Still Legal Tender The Central Bank of Nigeria (CBN) has informed registered … Read more
