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Currencies

What is a BRICS currency and is the U.S. dollar in trouble?

Delegates walk past the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. GIANLUIGI GUERCIA/Pool via REUTERS Acquire Licensing RightsJOHANNESBURG, Aug 23 (Reuters) - Brazil's President called on Wednesday for the BRICS nations to create a common currency for trade and investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations.Luiz Inacio Lula da Silva made the proposal at a BRICS summit in Johannesburg.Officials and economists have pointed out the...
Currencies

Bitcoin drops to new two-month low as world markets sell off

A representation of cryptocurrency Bitcoin is placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsLONDON, Aug 18 (Reuters) - Top cryptocurrency bitcoin hit a fresh two-month low on Friday, breaking out of its recent tight range as a wave of risk averse sentiment swept through world markets.On Thursday, bitcoin fell 7.2% in its biggest one-day drop since November 2022 when top exchange FTX collapsed.It then slipped to a two-month low of $26,172 during Asian trading hours on Friday, its lowest since...
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