Report: Indian Traders Using Asian Currencies to Buy Russian Coal

Indian traders have reportedly been settling payments for Russian coal in currencies other than the U.S. dollar — including the Chinese yuan, the Hong Kong dollar, the United Arab Emirates (U.A.E.) dirham, and the euro — in an effort to skirt Western sanctions imposed on Moscow in recent months in response to its latest war with Ukraine, Reuters reported on Wednesday.

HAI'AN, CHINA - MAY 15 2022: A clerk counts renminbi banknotes at a bank outlet in Hai'an in east China's Jiangsu province Sunday, May 15, 2022. The International Monetary Fund (IMF) has decided to increase the weight of the Renminbi in the basket from 10.92% to 12.28% in the recent …

China Claims Russia Increasingly Interested in Trade in Yuan

Russian companies have increasingly turned to China and India to sell products originally intended for U.S.-allied markets in recent months due to Western sanctions against Moscow, China’s state-run Global Times reported on Tuesday, noting that these alternative transactions are often settled in local currencies.

100 Chinese Yuan. close up

Report: Chinese Currency Soars on Hopes of Joe Biden Victory

The Financial Times (FT) reported on Friday that China’s currency, the renminbi, had its biggest rally in 15 years, driven by increased foreign demand and “rising expectations that a Joe Biden victory in next month’s U.S. presidential election could help reset relations between the two superpowers.”

china money 100 bank note background, business and finance concept

Bashar Assad Makes Syrian Currency Debut on 2,000-Pound Bill

The Syrian Central Bank has debuted a new, higher denomination bill featuring dictator Bashar al-Assad, the first time Assad has appeared on the nation’s currency. Such an appearance may imply renewed confidence in his stability as a leader, as the Islamic State rapidly loses territory in its “capital,” Raqqa.

In this photo released by the Syrian official news agency SANA, a man displays a new bank note of 2,000 Syrian Lira, ($3.9), during a press conference for the Central Bank Governor Duraid Durgham in Damascus, Syria, Sunday, July 2, 2017. The notes are the first time the face of …