3 Reasons Why De-Dollarization Is Real, 3 Reasons It May Fail
The number of nations supporting de-dollarization has grown significantly over the past 10 years. Several countries are tired of the US dollar’s role as the main global currency. An increasing number of trade partners have agreed to use local currencies for trade. Many people often refuse to notice the clear signs. There has been a noticeable weakening in the dollar’s reputation in the last decade. Does the world currently have what it takes for a non-US dollar system to work? 3 Reasons Why De-Dollarization Is Real 1. Dip In Foreign Exchange Reserves Source: Watcher.Guru The US dollar has seen a massive dip in its share of global central bank foreign exchange (FX) reserves over the last two decades. According to International Monetary Fund (IMF) data, the US dollar accounted for 71% of global FX reserves. This figure has fallen to 58% in 2024. The decline of the US dollar’s share in global reserves is a strong indicator of the de-dollarization movement Also Read: De-Dollariz...