Talk of a joint BRICS currency feeds into ‘decline of the dollar’ rhetoric. But it is the economic bloc’s focus on innovation that will reshape the international system.
Despite China’s economic power, the yuan lags as a major global currency. Here’s why current US interest rates and sanctions on Russia may change that.
Central banks are now taking digital currencies seriously, and the EU is exploring the idea. While an “e-euro” could increase monetary security and stability, the venture is not without risks.
British shoppers won’t have seen any difference to the value of their pounds yet, but everything from baked beans to bargain holidays could be affected down the line.
Most countries manipulate their currencies – at least a little – but at the moment that’s not the real reason they are undervalued relative to the dollar.
While the euro’s survival for two decades is evidence of its success, it was born with fundamental problems that have weakened it, leading to near-constant crisis.
Europe is experiencing a wave of optimism that its seven-year Greek drama may be finally coming to a close. Only one way to do that: Share Greece’s pain.