Commodity Trade Mantra

Posts Tagged ‘Petroyuan’

BRICS Bank Officially Launches As Sun Sets On US Hegemony

On Tuesday, ahead of this year’s summit in Ulfa, the BRICS countries officially launched the new bank along with the reserve currency pool. Brazil, Russia, India, China and South Africa (BRICS) will also look to begin settling more trade in national currencies. The Chinese yuan as the leading currency can be used in settlements among BRICS member states.

The Rise of the Petroyuan and the Slow Erosion of Dollar Hegemony

For the last 40 years, a pillar of dollar primacy has been the greenback’s dominant role in international energy markets. Today, China is leveraging its rise as an economic power & as the most important incremental market for hydrocarbon exporters in the Persian Gulf & the former Soviet Union to circumscribe dollar dominance in global energy.

follow us

markets snapshot


Market Quotes are powered by Investing.com India

live commodity prices


Commodities are powered by Investing.com India

our latest tweets

follow us on facebook