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View all search resultsThe safe-haven US dollar edged higher against major peers on Wednesday as markets continued to assess news of a Russian-made rocket striking NATO-member Poland, and whether it could lead to an escalation of the Ukraine war.
While the RMBLA marks another milestone for China's effort to internationalize its currency, Indonesia would do well to be aware of the pitfalls and moral hazards that such currency arrangements might carry.
The dollar held firm at a 20-year high on Friday and was poised to score its best monthly gain in a decade, while the yen is down almost 7 percent in April and the euro dropped through $1.05 for the first time in five years.
“We have part of our gold and foreign exchange reserves in the Chinese currency, in yuan. And we see what pressure is being exerted by Western countries on China in order to limit mutual trade with China. Of course, there is pressure to limit access to those reserves," Finance Minister Anton Siluanov said.
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