The euro is about to celebrate its 20th birthday, but the countries that use it are still wrestling over how the shared currency should work and how to fix flaws exposed by the debt crisis that marred its second decade.
China should not allow the yuan to fall below seven per dollar or attempts to stabilize the currency will become more costly on the country’s foreign exchange reserves, Sheng Songcheng, an adviser to the People’s Bank of China, said on Saturday.
Iran has launched financial channels with a number of countries to conduct money transactions to confront the US sanctions, Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati announced on Tuesday.
Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei ordered the Central Bank of Iran (CBI) to boost the value of rial, the bank’s governor said on Saturday, after a months-long plunge in the currency due to a faltering economy and US sanctions.
Russia may launch settlements with Iran in national currencies in order to continue bilateral cooperation despite the US sanctions against Tehran, Russian Energy Minister Alexander Novak told Anadolu Agency on Sunday.