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Russia, China Prepare To Dump Dollar, Agree To Bilateral Trade In National Currencies

Russia, China Prepare To Dump Dollar, Agree To Bilateral Trade In National Currencies Just one month after conducting joint military exercises, Russia and China are set to sign an agreement which would boost the use of their national currencies in bilateral and international trade in an attempt to mmove away from the current dollar-denominated financial system, […]

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Are Petrocurrencies Heading For Extinction?

Are Petrocurrencies Heading For Extinction? Petrocurrencies are breaking away from their traditional tight link to oil prices, but all it would take for this link to return is for prices to fall bellow their current range. This seems to be the general consensus among bankers interviewed by Bloomberg’s Natasha Doff and Anna Andrianova. The change […]

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S&P Cuts Russia To Junk, Ruble Plunges To 6-Week Lows – Full Text

S&P Cuts Russia To Junk, Ruble Plunges To 6-Week Lows – Full Text With the Ruble having plunged 3 handles today alone, it appears perhaps more than a few could see this coming… RUSSIAN FEDERATION RATINGS CUT TO JUNK BY S&P RUSSIAN FEDERATION CUT TO BB+ FROM BBB- BY S&P; OUTLOOK NEG Putting it below […]

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China To Launch Yuan Swap Trading With Russian Rubles On Monday | Zero Hedge

China To Launch Yuan Swap Trading With Russian Rubles On Monday | Zero Hedge. The world was slow to wake up to the new reality in which China is now the de facto IMF sovereign backstop, as Zero Hedge described two weeks ago in “China Prepares To Bailout Russia” when we noted that a PBOC swap-line was […]

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Surprise! Guess which currency has stronger fundamentals— the dollar or… ruble?

Surprise! Guess which currency has stronger fundamentals— the dollar or… ruble?. Last night, the Russian central bank announced a shock decision to hike up its key interest rate from 10.5% to 17%, effective immediately. Incredible. On Monday alone the ruble declined more than 9% against the dollar, and almost 50% in 2014. It looks like […]

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Ruble Freefall: And the Ugliest Currencies Are? | Wolf Street

Ruble Freefall: And the Ugliest Currencies Are? | Wolf Street. The 35% plunge of the price of oil since June and the sanction spiral imposed on Russia are wreaking havoc on the ruble. Oil and gas revenues are crucial to the finances of the Russian government and to the oil-and-gas dominated economy. So the ruble […]

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