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Asian Clearing Union to launch banking system to rival SWIFT
May 25, 2023 01:02Members of the Asian Clearing Union (ACU), a regional banking bloc that seeks easier clearing of payments between its member states, have agreed to launch a system that will rival the SWIFT international payment network.
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Iran urges trade with India in own currencies
May 01, 2023 10:48Secretary of Iran’s Supreme National Security Council Ali Shamkhani called for plans to conduct trade transactions with India using the two countries’ own currencies, namely rial and rupee.
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Argentina to pay for Chinese imports in yuan instead of dollars
Apr 27, 2023 03:37The global trend of substituting the US dollar with local currencies in trade transactions is speeding up as more countries are ditching the greenback.
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Iran reports 11.3% rise in manufacturing activity in Dec quarter
Apr 27, 2023 01:52Central Bank of Iran (CBI) figures show manufacturing activity in the country rose by 11.3% in the quarter to December 21 last year compared to the same period in 2021.
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Demise of dollar: India, Bangladesh join hands to ditch US currency in cross-border trade
Apr 24, 2023 07:48India has finally joined hands with Bangladesh to do cross-border trade in their own currencies, the Indian rupee (INR) and the Bangladeshi taka (BDT), making Bangladesh the nineteenth country to ditch the US dollar.
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Iran’s petrochemical sector gets $2.5 billion foreign investment offer
Apr 24, 2023 07:28Iran has received an offer for $2.5 billion of investment in its petrochemical sector from a foreign country, Chief Executive of the National Petrochemical Company (NPC) Morteza Shahmirzaei says.
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Brazil's Lula raps US dollar, IMF amid bolstering China ties
Apr 14, 2023 05:22Brazil’s president has blasted the monstrous role of the US dollar in the global economy during a formal visit to China after the two nations forged a recent pact to replace the dollar with their own currencies in trade deals.
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Iraq to pay debts to Iran within 3-5 months: Official
Apr 12, 2023 03:21The chairman of the Iran-Iraq Joint Chamber of Commerce said the debt Iraq owes to Iran for import of energy will be paid within the next three to five months.
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Macron says Europe must cut reliance on US dollar, seek ‘strategic autonomy’
Apr 10, 2023 11:20French President Emmanuel Macron has called on European countries to lower their dependence on the US dollar and resist pressure to become vassal states of Washington or get dragged into the China-US conflict over Taiwan.
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India pushing for trade in local Currency
Apr 10, 2023 09:46In a bid to ditch the US dollar and evade illegal US sanctions, New Delhi is taking drastic measures to boost its own currency in international trade.