July 23, 2024
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Blockchain News

VTB Bank CEO Predicts Weakening US Dollar as Chinese Yuan Gains Momentum

According to the CEO of Russia’s VTB Bank, Andrey Kostin, the US dollar’s status as the dominant global currency is at risk due to the rising influence of the Chinese yuan. Kostin suggests that the actions taken by the United States and its allies to restrict Russia’s access to gold and foreign exchange reserves are

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Central Banks Anticipated to Ramp Up Gold Reserves Amid Dollar Uncertainty, Says UBS

UBS, the prominent banking giant, foresees a substantial surge in demand for gold by central banks worldwide. In their latest report, UBS predicts that central banks will amass 700 metric tons of gold, equivalent to $48.74 billion, this year. Inflation concerns and geopolitical uncertainties drive this shift. Central Banks’ Gold Accumulation Continues : According to

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