top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

31 Mar 2022

IMF Issues Warning about Russia Sanctions Rattling Dollar’s Dominance

The Index Today

The International Monetary Fund (IMF) has warned that the fiscal penalties levied on Russia in response to its invasion of Ukraine last month can lead to the eventual erosion of the U.S. dollar’s status as the reserve currency, resulting in a destabilized monetary system.

According to Reuters, Gita Gopinath, the First Deputy Managing Director of the IMF, told The Financial Times, "The dollar would remain the major global currency even in that landscape but fragmentation at a smaller level is certainly quite possible." Gopinath also revealed that some countries are already contemplating switching their preferred trade currency.

Since it invaded Ukraine in late February, Russia has received a string of sanctions and bans from the U.S. and its allies. Gopinath contends that when other currencies become more prominent in global trade as a result, it could lead to greater heterogeneity in central banks-held reserve assets.

©Photo: Money; Getty Images

Clay pottery with table linens
bottom of page