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China has bought 181 of 800 tonnes of gold purchased globally this year. The move underscores dedollarization, as countries wean off the greenback.
The US dollar has been the world’s dominant reserve currency since World War II and is widely used to conduct international trade. A recent push by some world leaders to find alternatives has sparked false claims about changes to monetary policy in several African countries. A post on X, formerly Twitter, claims Tanzania will no longer stockpile the US dollar as a reserve currency following an announcement that it is purchasing gold to bolster its foreign reserves. However, AFP Fact Check found
Asian currencies are especially exposed to outflows as benchmark rates in the region are generally lower than their emerging peers, resulting in a wider differential with the US.
India Business News: The country's foreign exchange reserves stood at $584.7 billion, the lowest in more than five months, after a decline of $2.2 billion in the week ende
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