The dollar will remain king for the next ten years
by Dominic DeWitt
Posted in to •
3 Read less
Posted in to •
3 Read less
According to a survey of central banks, the dollar will maintain its position as the world’s dominant reserve currency over the next decade.
Why is this important?
Russia, China, Saudi Arabia, India, Malaysia, Brazil, South Africa … have announced in recent weeks that mutual trade transactions will – at least in part – not be paid in dollars, but in Chinese yuan or Indian rupees. The de-dollarization of world trade may have been underway in theory for some time, but in practice the dollar has nothing to fearin the news. survey conducted Official Monetary and Financial Institutions Foruma think tank for UK central banks, notes that central banks managing nearly $5 trillion in assets expect the dollar’s share as part of global reserves to decline very gradually.
- Currently, the dollar accounts for 58 percent of total reserves. This percentage is expected to drop to 54% within 10 years
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