Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries China, Malaysia to discuss Asian Monetary Fund to reduce dependence on US dollar By: FOX Business April 04, 2023 at 21:54 PM EDT Malaysia and China are open to creating an Asian Monetary Fund to reduce U.S. dollar dependency. Malaysia is reviving a decades-old proposal to create an Asian Monetary Fund to reduce dependence on the U.S. dollar, with China being open to talks about the matter. Malaysian Prime Minister Anwar Ibrahim proposed the fund last week, Bloomberg reported."When I had a meeting with President Xi Jinping, he immediately said, ‘I refer to Anwar’s proposal on the Asian Monetary Fund’, and he welcomed discussions," Anwar, who also serves as the country's finance minister, told the Malaysian parliament on Tuesday.CHINA'S NEW TECH WEAPON: DRAGGING ITS FEET ON GLOBAL MERGER APPROVALS"There is no reason for Malaysia to continue depending on the dollar," he added.Anwar said he shelved forming an Asian Monetary Fund during his first stint as finance minister in the 1990s. At the time, the idea failed to gain traction as the U.S. dollar was still seen as strong, he said.The dollar index reached a record-high in September 2022 as other Asian currencies hit multi-decade lows, the news report said.Recently, China and Brazil struck a deal to ditch the U.S. dollar in favor of their own currencies in trade transactions. CLICK HERE TO READ MORE ON FOX BUSINESSChina is Brazil’s largest trading partner, accounting for more than a fifth of all imports, followed by the United States, according to the latest figures. China is also Brazil’s largest export market, accounting for more than a third of all exports. Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
China, Malaysia to discuss Asian Monetary Fund to reduce dependence on US dollar By: FOX Business April 04, 2023 at 21:54 PM EDT Malaysia and China are open to creating an Asian Monetary Fund to reduce U.S. dollar dependency. Malaysia is reviving a decades-old proposal to create an Asian Monetary Fund to reduce dependence on the U.S. dollar, with China being open to talks about the matter. Malaysian Prime Minister Anwar Ibrahim proposed the fund last week, Bloomberg reported."When I had a meeting with President Xi Jinping, he immediately said, ‘I refer to Anwar’s proposal on the Asian Monetary Fund’, and he welcomed discussions," Anwar, who also serves as the country's finance minister, told the Malaysian parliament on Tuesday.CHINA'S NEW TECH WEAPON: DRAGGING ITS FEET ON GLOBAL MERGER APPROVALS"There is no reason for Malaysia to continue depending on the dollar," he added.Anwar said he shelved forming an Asian Monetary Fund during his first stint as finance minister in the 1990s. At the time, the idea failed to gain traction as the U.S. dollar was still seen as strong, he said.The dollar index reached a record-high in September 2022 as other Asian currencies hit multi-decade lows, the news report said.Recently, China and Brazil struck a deal to ditch the U.S. dollar in favor of their own currencies in trade transactions. CLICK HERE TO READ MORE ON FOX BUSINESSChina is Brazil’s largest trading partner, accounting for more than a fifth of all imports, followed by the United States, according to the latest figures. China is also Brazil’s largest export market, accounting for more than a third of all exports.