Page 3 - De Dollarization News Today

Russia does not need to think about how to restore its relations with Europe, but rather think about how not to depend on Europes economic decisions, Russian Foreign Minister Sergey Lavrov said on Monday.

Strengthening the national currency is one of the key pillars of de-dollarization because when the national currency is strengthened.

The United States and Europe are losing their influence as pillars of the global economy to countries in the Asia-Pacific region, Bolivian President Luis Arce said.

To meet maturity payments on its $44 billion debt deal with the IMF, Argentina has previously tapped its currency swap line with China.

Western companies exiting Russia must sell assets in rubles or else face delays and perhaps losses to transfer dollars or euros abroad.

China has begun to conduct cross-border crude oil settlements in digital yuan. The China National Petroleum Corporation (CNPC) has recently bought 1 million barrels of crude oil using the nations digital currency, according to the Chinese press.

China's holdings of US bonds have hit a 14-year low - but that doesn't necessarily mean Beijing is deliberately shifting away from dollar assets, according to Lloyds Banking Group strategists.

On Argentina's forex black market, the dollar recently topped 1,000 pesos for the first time. The unofficial exchange rate is up almost 60,000% since 2002.

Traders are shorting the Israeli currency, which has fallen nearly 5% against the US dollar since Hamas forces attacked on October 7.

Egypt issued three-year panda bonds worth 3.5 billion yuan, or about $479 million, marking another shift from global reliance on the US dollar.