European Central Bank chief Mario Draghi said Tuesday (18 June) that the institution “doesn’t target the exchange rate”, shrugging off an allegation of currency manipulation from US President Donald Trump. “We have our remit. We have our mandate. Our mandate...
A report by the Bank of Russia published late on Wednesday (9 January) reveals that the country dumped $101 in US holdings from its reserves, shifting into euros and yuan last spring amid a new round of US sanctions.
The European Commission presented on Wednesday (5 December) a strategy to strengthen the international role of the euro days after member states continued to drag their feet to complete the economic and monetary union.
Russian oil producer Surgutneftegaz is pushing buyers to agree to pay for oil in euros instead of dollars if the need arises, apparently as insurance against possible tougher US sanctions, traders who deal with the firm told Reuters.
European Commission President Jean-Claude Juncker is expected to propose today a bigger role for euro in international markets and more efficient decision-making in EU foreign policy in his state of the union speech, European diplomats said.