India Denies Targeting US Dollar as Dedollarization Reshapes Global Trade

October 8, 2024 Bitcoin.com

India’s External Affairs Minister S. Jaishankar clarified that the country is not targeting the U.S. dollar in its economic policy, despite shifts in global trade and currency usage. Speaking in Washington, he emphasized that India’s trade adjustments are driven by practical concerns related to partners with dollar shortages, not a strategic effort to undermine the […]

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IMF Data Shows Decline in US Dollar Dominance

June 15, 2024 Bitcoin.com

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Recent data from the International Monetary Fund (IMF) points to an ongoing decline in the U.S. dollar’s share of allocated foreign reserves held by central banks and governments. Economists explained that reserve managers are attracted to nontraditional reserve currencies “because they provide diversification and relatively attractive yields, and because they have become increasingly easy to […]

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Putin Says US Dollar Dominance Diminishing as Use of ‘Toxic Currencies’ Declines

June 12, 2024 Bitcoin.com

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Russian President Vladimir Putin claims U.S. economic policies are diminishing the dollar’s global dominance. “Last year the share of payments for Russian exports in the unfriendly states’ so-called toxic currencies was halved,” he revealed, labeling the U.S.’s $1 trillion trade deficit as modern neocolonialism and emphasizing Russia’s shift towards using the ruble and local currencies […]

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Experts Say Dollar Dominance Debate Misses the Point, US Needs Economic Focus

June 11, 2024 Bitcoin.com

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Two experts have explained that the global debate on the future of dollar dominance misses the point because it doesn’t focus on how the dollar’s future will evolve. They warned: “If the U.S. doesn’t keep its house in better order, dollar dominance will be the least of our worries.” Experts Discuss US Dollar’s Dominance Steven […]

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US Dollar’s Importance Declining in International Transactions and as Reserve Currency, Economist Says

May 16, 2023 Bitcoin.com

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A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in international trade and as a reserve currency has been declining. “Other currencies have been getting more important in international transactions and as reserve currencies,” he stressed. Economist Highlights Rising De-Dollarization Trend Canadian economist James Brander shared […]

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Bank of America: Threats to US Dollar’s Dominance Largely Domestic — Not BRICS Currency or Chinese Yuan

May 9, 2023 Bitcoin.com

Bank of America

Bank of America has warned that the key threats to the U.S. dollar’s dominance are largely domestic, as opposed to competition from other currencies, including a BRICS currency. “U.S. fiscal brinkmanship, with risks for government shutdown, or even worse a default, keeps coming up during debt ceiling discussions,” the bank’s analysts stressed. Bank of America […]

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Saudi Arabia Joining BRICS Would Accelerate Chinese Yuan’s Use as Trading Currency, Says Professor

May 6, 2023 Bitcoin.com

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Professor Ashok Swain of Uppsala University’s Department of Peace and Conflict Research says Saudi Arabia joining the BRICS economic bloc “would accelerate the bilateral trading being conducted using the yuan as the trading currency. ” How Saudi Arabia Joining BRICS Could Boost Use of Chinese Yuan Ashok Swain, a professor of peace and conflict research at […]

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Economist Predicts Shift to Tripolar Reserve Currency World — Yuan, Euro to Disrupt US Dollar’s Dominance

April 30, 2023 Bitcoin.com

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Economist Stephen Jen, a former Morgan Stanley managing director, expects a shift “from a unipolar reserve currency world to a multipolar world,” with the Chinese yuan, the euro, and the U.S. dollar forming a “tripolar” reserve currency configuration. ‘A Multipolar World’ Economist Stephen Jen, the CEO of asset management firm Eurizon SLJ, expects multiple currencies […]

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ECB President Lagarde on De-Dollarization: Reserve Currency Status Should No Longer Be Taken for Granted

April 26, 2023 Bitcoin.com

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European Central Bank (ECB) President Christine Lagarde has warned that the U.S. dollar’s reserve currency status “should no longer be taken for granted.” Acknowledging de-dollarization efforts by various countries, she stressed: “New trade patterns may have ramifications for payments and international currency reserves.” ECB’s Christine Lagarde on De-Dollarization and Alternative Currencies The president of the […]

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BRICS De-Dollarization Push, China, and Crypto Threaten US Dollar’s Dominance: Analyst

April 19, 2023 Bitcoin.com

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Fitch Solutions’ global head of country risk has named the rising adoption of cryptocurrencies, the de-dollarization efforts by the BRICS countries, and China’s rising “economic might” as key factors that erode the U.S. dollar’s dominance over time. He cautioned that China will “exert more influence in global financial institutions and trade.” Analyst Explains Why U.S. […]

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