EMerging Equity
Global Payments
Chinese Yuan Emerges As World’s Fourth Most-Used Payments Currency
China’s yuan has emerged to become the fourth most-used currency in the world for cross-border payments in August, according to a report published by global transaction services organization SWIFT (The Society for Worldwide Interbank Financial Telecommunication). For the first time ever, the yuan has moved ahead of the Japanese yen, and rose to its highest ranking ever, despite devaluations from its Central Bank. There was … Continue reading
Russia Looks To Introduce First National Virtual Currency By 2016
Russia’s QIWI payment system is looking to become the first national crypto-currency as it looks to roll out the “bit-ruble” and enter the $3.8 billion virtual currency market by 2016, according to Russian news agency RT. QIWI, the Moscow-based payments firm, is looking to launch the new crypto-currency by 2016, however it will need several millions of dollars in … Continue reading
BRICs Summit In Ufa To Unite Members For Development, Security
“The upcoming BRICs and the Shanghai Cooperation Organization (SCO) summits would unite countries for development, peace and security of the region and world, visiting Chinese Foreign Minister Wang Yi said here [Moscow] Wednesday,” Xinhuanet reports. During the meeting in Moscow with Sergei Lavrov, Russian FM, Mr Wang expressed his full support for the two summits … Continue reading
Russia Proposes BRICs Alternative To SWIFT Global Payment System
Russia is proposing an alternate to the SWIFT global interbank payment system for the BRICs (Brazil, Russia, India, China, South Africa) grouping of emerging market nations in a move which would further ramp up de-dollarization efforts and threaten the U.S. dollar’s global hegemony. The Central Bank of Russia (CBR) has called for a discussion with its peers on establishing … Continue reading
Chinese Yuan’s Inclusion To IMF’s SDR Basket Could Draw $1 Trillion
Around $1 trillion in global currency reserves will switch into Chinese assets should the International Monetary Fund (IMF) endorse the yuan as a reserve currency and include it in its Special Drawing Rights (SDR) basket this year, according to Standard Chartered, Bloomberg reports. “SDR inclusion in 2015 would likely have a significant market impact, driving an immediate sharp … Continue reading
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