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Amidst the speculation about 100-basis-point interest hike due to the staggering inflation, US dollar reached its highest peak against yen. Next month at the policy meet, the Fed may announce the hike as predicted by many strategists. US dollar went up to 147.67 yen, an unexpected rise since August 1990, when it had recorded the highest peak at 147.66 yen. However, it quickly came down to 147.2 yen in a volatile session.  Last month, Japan's currency had fallen to 145.9 per dollar, which forced the country to intervene by spending nearly US$ 20 billion for the first time in 20 years. It is being speculated by traders that yen might decline even lower than 160.20 per dollar, which was recorded in April 1990. As per the labor department, the US consumer price index (CPI) has gone up 0.4% in September as against 0.1% rise in August.  Dollar also gained against euro and Swiss franc.  इस कहानी को हिंदी में पढ़ें Watch video: 

This week China's Yuan has outperformed US dollar at Moscow Stock Exchange as per the group's data. Monday, It became the most traded foreign currency at the exchange with the Yuan-Ruble transactions amounting to 64,900 as against 29, 500 US dollar-Ruble.  Western sanctions could be one of the major factors in pushing Russia so close to China.  Russia's share in total global Yuan payments stands at over 4%. Moscow is the third largest market for offshore Yuan transactions after Hongkong and the UK. However, the currency is far behind US dollar in other major economies in terms of global payments.  Wester sanctions forced Russia to dedollarize its economy and transact more in Yuan. Now Russia' s transaction pertaining to its gas supply to China would be 50% Yuan and rest in Ruble. इस कहानी को हिंदी में पढ़ें   Watch video: