Monetary hegemony

South Korea and Japan shared "serious concerns" on the recent weakness of their currencies against the dollar and agreed to take "appropriate actions" to counter extreme volatility, the finance ministry in Seoul said Wednesday.

FRANKFURT - The euro is not a legal tender in the so-called Kosovo as Pristina unilaterally adopted it as the de facto currency in 2002, the European Central Bank (ECB) website says.

It notes that Montenegro, which is also not an EU member, did the same in 2002.

Central bank} digital currencies (CBDCs), expected to become a reality in the next decade, could, in geopolitical terms, be a real game changer, bypassing the reigning dollar and euro payment systems and raising possibilities - but also dangers.

Japan's top currency official said yesterday that Tokyo was "on standby" to intervene after the yen fell to a new year-low against the dollar and plunged against the euro, Bloomberg reported.

The yen dropped below 151 against the dollar overnight after the Bank of Japan further loosened its control of bond yields but stuck with sub-zero short-term interest rates.

The United States of America itself is to blame for the fact that many countries began to give up trade in US dollars, Alexei Mozhin, Russia's representative at the International Monetary Fund, told "RIA Novosti".

FX-protected deposit accounts that were launched some nine months ago have attracted more than 1.3 trillion Turkish Liras of savings, Treasury and Finance Minister Nureddin Nebati has said.

Having more lira assets and deposit accounts with longer maturity are crucial both to investments and loans, Nebati said.

"The war in Ukraine and its consequences are the main reason for the leveling of the euro against the dollar. For the first time since the beginning of the new millennium, we have seen parity between the world's two major reserve currencies". This was stated by the economist and financial analyst Boris Petrov in an interview for BGNES

The currency lost 3% against the US dollar

The foreign currency reserves of the National Bank of Romania clocked in, at the end of August 2021, at 41.616 billion euro, an increase by 6.68 pct over the level of 39.008 billion euro recorded on July 31, 2021, the central bank announced on Wednesday.

Russia has converted its dollar reserve into euros, Chinese yuan and gold