As per a recent report, the process of de-dollarization has received a further boost with the Asian Clearing Union (ACU), a payment arrangement between several central banks, planning to announce the rollout of a SWIFT alternative in June 2023. The ACU consists of India, Maldives, Bangladesh, Bhutan, Myanmar, Nepal, Pakistan, Sri Lanka, and is currently

In an ominous episode of “history on repeat”, Zimbabwe is hiking interest rates further and will begin selling foreign currency at market-determined rates as it strives to protect its slumping domestic currency. The Zimbabwean currency (ZWL) was re-launched in 2019 following a turbulent period of dollarisation. The former Zimbabwean dollar (with the currency symbol ZWD,