Currency news

 Saudi Crown Prince Mohammed bin Salman pledged on Saturday that Saudi Arabia, the world's largest oil exporter, will reach net zero emissions by 2060, ten years after the United States. Prince Mohammed said the kingdom would more than double its annual target to cut carbon emissions to nearly 280 million tons. Prince Mohammed and Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, said that OPEC member Saudi Arabia will address climate change while ensuring the stability of the oil market, stressing the continued importance of hydrocarbons. The Crown Prince and the Minister of Energy were speaking during the activities of the Green Saudi Initiative, which comes ahead of the twenty-sixth United Nations conference on climate change in Glasgow between October 31 and November 12, during which it is hoped that an agreement will be reached on greater reduction in emissions to confront the rise in temperature. Earth. The United States, the world's second-largest emitter of...

 Yahya Khoja, advisor to the Saudi Ministry of Energy, said on Sunday at the Green Youth Summit that the ministry is forming an artificial intelligence team with a budget of several billion riyals.

 After the largest cryptocurrency climbed to an all-time high, bitcoin prices hit a downward wave of correction. Analysts believe that it is still too early to talk about a bear market, as hopes that Bitcoin will break new peak levels are still present and strongly, amid expectations of reaching new peak levels that may reach 300 thousand dollars. Elon Musk is the world's first trillionaire Scenario 135 thousand dollars “He has been watching the $64,000 area as a critical level for a market breakout and market failure, so there is a corrective move,” Michael Van de Bobby, one of the most popular Bitcoin investors, puts it. Michael van de Poppe added: "Overall, $56,000-59K is a good location to buy bitcoin." Meanwhile, the “worst case scenario” for October predicted by Van de Poppe requires a monthly BTC/USD close of $63,000, for BTC to reach a high of $135,000. Another analyst who sees the outlook still bullish, sees popular Twitter analyst TechDev, that 2021 is still in ...

 Recently, Tesla CEO Elon Musk tweeted that he would become the world's first Dogecoin trillionaire in a recent tweet. Elon Musk's net worth exceeded $249 billion, according to the Bloomberg Billionaire Tracking Index. Meaning that what a businessman owns is now worth more than New Zealand's GDP and is now close to exceeding Portugal's GDP. His wealth increased thanks to the renewed movement of Tesla shares, as the shares of the pioneering electronic car maker reached an all-time high of $910 in recent days. Morgan Stanley predicts that Elon Musk is on his way to becoming the world's first trillionaire thanks to SpaceX. In July, Musk revealed that he personally owns Bitcoin, Dogecoin and Ethereum. The signal from “Mask” for the “Dogecoin” currency did not contribute to its rise as usual, but remained stable at the level of $0.24.

 On Friday morning, the People's Bank of China set the yuan's exchange rate against the US dollar at 6.4032 yuan per dollar. At the same time, expectations were for the Chinese yuan to stabilize against the dollar at 6.4030 yuan per dollar. It should be noted that the Bank of China influences the price of the US dollar USD by linking the value of its currency - the yuan - to the currency of the dollar USD, as the bank uses a fixed exchange rate policy, which differs from the free exchange rate used by the United States and many other countries, while leaving Margin of movement for the currency of China to move in a narrow range. The Bank of China manages the value of the yuan by keeping it fixed against a basket of currencies of countries that are China's partners. The basket is measured at USD, given that the United States is China's largest trading partner.

 The US dollar fell against its rivals on Friday and is heading for a second consecutive week of decline as news that debt-laden real estate firm China Evergrande (HK:3333) has avoided defaulting on risky assets, worries about a beleaguered real estate developer whose financial liabilities stand at 2% of its China's GDP is causing investors to flock to safe haven currencies such as the US dollar and government debt. Fears of economic contagion saw other sectors of indebted developers hit by a credit rating downgrade, but days before the deadline that would have plunged the beleaguered developer into a formal default and send shockwaves through global markets, the company had freed up funds to pay interest on Bonds in US dollars. In a statement, MUFG strategists said: "While this is good news in terms of avoiding an imminent official default over the weekend, uncertainty is set to remain elevated until there is more clarity on the position of Evergrande and that of other proper...