Dollar at 2-month highs as markets weigh rate hikes, Iran diplomacy
The dollar rose to its strongest level in two months on Wednesday on prospects of interest rate hikes in the near term, although easing oil prices could alter the global inflation and monetary policy outlook.
Saudi Arabia exits China-backed payment platform as Africa deepens its yuan payment links
Gulf oil powerhouse Saudi Arabia has exited a China-led digital currency platform designed to facilitate cross-border payments without relying on traditional dollar-based financial networks, even as African banks deepen their links to China’s yuan payment infrastructure.
BRICS abandons common currency push, opts for integrated payment systems to bypass US dollar friction
BRICS has moved away from the idea of creating a single currency to challenge the US dollar, instead focusing on connecting members’ payment systems and expanding the use of local currencies in cross-border trade.
World Bank warns Zimbabwe against rush to make ZiG sole currency
The World Bank cautioned Zimbabwe against rushing to end the use of dollars in the economy as it could trigger capital flight.
Nigerian stocks overtake South Korea to become the world’s best-performing equity market in dollar terms
Nigeria’s stock market has emerged as the world’s best-performing equity market in dollar terms this year, overtaking South Korea as investors reward the country’s improving macroeconomic outlook and ongoing economic reforms.
Trump becomes first sitting president to have signature featured on US paper currency
President Donald Trump posted a new image Friday of a $100 bill bearing his signature, months after the Treasury Department announced that, for the first time, a sitting president’s signature would be featured on US paper currency.
10 African countries with the weakest currencies in June 2026
A weak currency has the potential to pose considerable economic issues for African countries, impacting everything from consumer purchasing power to corporate operations and government budgets.
Yuan makes inroads into Africa’s US$-dominated trade system as China-Africa trade nears $400 billion
The Chinese yuan is steadily gaining ground in Africa’s trade system as the continent’s economic ties with Beijing deepen, challenging the long-standing dominance of the U.S. dollar in select cross-border transactions.
DR Congo bans US dollar cash payments
The central bank of the Democratic Republic of Congo is making one of its boldest attempts yet to curb the dominance of the US dollar, announcing a ban on all cash transactions in foreign currencies starting April 2027.
SA rand, Nigerian naira ranked among global currencies soaring against US dollar
The South African rand and Nigerian naira have been ranked among the global currencies posting strong gains against the U.S. dollar over the past year, reflecting shifting market dynamics and improving domestic conditions.