Chinese President Xi Jinping and his Russian counterpart Vladimir Putin on Friday discussed ditching dollar-denominated trade and a new deal to increase Russian gas exports to China.

Iran and Russia plan to ditch the US dollar in bilateral trade, says Ebrahim Rezaei, Chairman of the Iran-Russia parliamentary friendship group.

The US dollar has remained the world’s top currency when it comes to trade, but its standing is increasingly coming under threat.

The greenback lost part of its value against the Iranian rial after South Koreans headed to Vienna.

Bullish investors left the dollar near a one-week low and lifted riskier currencies such as the Australian dollar and British pound on Thursday, as fears about the fallout from Omicron were sidelined.

Iran’s currency rial hits a two-year low amid growing speculation about nuclear deal revival talks.

Major currencies rebound as US dollar falls amid uncertainties over new coronavirus variant.

The euro dropped on Wednesday after a poll showed German business morale worsened in November, according to the Ifo institute.

The Iranian rial recoups part of losses causing gold to fall despite surge reported in global markets.

Oil prices rose on Monday, recovering from a seven-day losing streak with support from a weaker dollar, although concern about surging cases of the Delta coronavirus variant led to cautious trading.