BITCOIN

India’s oil and gas minister says de-dollarization is a long way away. The official emphasized his desire to conduct all transactions in rupees, expressing his wish for the Indian currency to become “the lead currency in the world.” Indian Official on De-Dollarization India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri stated in an interview with CNBC on the sidelines of the B20 Summit in New Delhi on Friday that de-dollarization is a long way off. Puri explained that he expects the U.S. dollar to maintain its dominance in global trade. Commenting on factors that could dethrone the USD as the world’s reserve currency, he opined: I don’t know what kind of change [the dollar needs to] be affected but I don’t see it … It’s not so easy. The minister further shared that he does not see the Indian rupee challenging the U.S. dollar as a major global currency, even though it is being used in some oil transactions alongside the Chinese yuan and the Russian ruble. Nonetheles

The U.S. dollar’s dominance in global payments has strengthened, according to data compiled by global financial messaging service SWIFT. The share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July. In addition, the share of the transactions involving the Chinese yuan has increased. SWIFT Data Indicates US Dollar Dominance The dominance of the U.S. dollar in international payments has reached a record high, according to the latest transaction data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), the leading global financial messaging service. SWIFT’s messaging platform, products, and services connect more than 11,000 banking and securities organizations, market infrastructures, and corporate customers in more than 200 countries and territories. The data shows that the share of SWIFT FX transactions involving the U.S. dollar rose to a record 46% in July, compared to slightly more than one-third a decade ago, Bloomberg report

Economist Peter Schiff has warned about an impending “full-blown financial crisis” that he expects to hit the U.S. economy before the Federal Reserve reaches its inflation target. He further predicted that the financial crisis will force the Fed to raise its inflation target. Peter Schiff’s Latest Warnings Gold bug and economist Peter Schiff warned of an impending U.S. financial crisis in a series of posts on the X social media platform this week. Commenting on Federal Reserve Chairman Jerome Powell’s speech at the central bank’s Jackson Hole symposium regarding inflation on Friday, Schiff wrote: “During his Jackson Hole speech, Powell admitted that the Fed still has a long way to go to achieve its 2% inflation target.” The gold bug exclaimed: That’s a gross understatement, as a full-blown financial crisis will ensue long before the target is hit, forcing the Fed to raise the target above 2%. In a follow-up post, the economist wrote: How can Powell give a speech about inflatio

Shiba inu was one of Saturday’s notable gainers, as price rebounded from recent lows to start the weekend. Today’s rebound comes as the global crypto market cap moved into the green earlier in the session. XRP was also higher on Saturday. Shiba Inu (SHIB) Shiba inu (SHIB) moved away from a recent support point to start the weekend, as bulls opted to buy a recent dip in price. Following a low of $0.000008016 on Friday, SHIB/USD rose to an intraday peak of $0.00000822 on Saturday. As a result, shiba inu moved away from the aforementioned price floor around the $0.00000790 zone. The bounce comes as the relative strength index (RSI) also avoided a support of its own at 39.00, and has now jumped to a reading of 43.27. A ceiling of 47.00 now awaits traders in the event that bullish momentum intensifies during the weekend. XRP Additionally, XRP was also in the green, rebounding from recent losses of its own. XRP /USD rose to a high of $0.5298 to start the weekend, less than 24 hou

Russian Foreign Minister Sergey Lavrov has declared that the actions of the BRICS bloc, integrated by Brazil, Russia, India, China, and South Africa, are focused on reducing dependency on the economic system managed by the U.S. and its Western allies. He denied a possible unified currency for all BRICS countries at this juncture. Russian Foreign Minister Lavrov: ‘No One Is Talking About a Single Currency Now’ Russian Foreign Minister Sergey Lavrov stated one of the objectives of the BRICS bloc was to achieve independence from the Western-controlled economic and payment system in its internal trade settlements and transactions. At the BRICS summit recently held in Johannesburg, Lavrov explained that this would be one way of escaping the hegemony of the U.S. as the issuer of the dollar. Quoted by the state-owned Russian news outlet TASS, Lavrov stated : All attention is now focused on finding ways to ensure our mutual trade, mutual economic projects and investments in such a way so