All articles tagged with #international transactions
Originally Published 3 months ago — by Bureau of Economic Analysis (BEA) (.gov)
In Q2 2025, the US current-account deficit narrowed significantly to $251.3 billion, mainly due to a decrease in imports and an increase in exports of goods and services, reflecting a positive shift in trade balance and increased foreign investment in US assets.
Originally Published 2 years ago — by CNBC
Indian Oil and Gas Minister Hardeep Singh Puri expressed his personal desire to transact everything in Indian rupees, but acknowledged that de-dollarization, or moving away from the U.S. dollar for trade settlements, is still a distant goal. While some oil trades have been settled in currencies like the Chinese yuan or Indian rupee, Puri believes that the U.S. dollar will remain the dominant currency for international oil transactions. He noted that the Indian rupee's prominence in the global market is a long journey, given the size of India's economy and its external sector. The BRICS summit discussed the possibility of a common currency, but Puri emphasized that existing trading and payment arrangements have been in place for a long time.