Page 10 - De Dollarization News Today

The greenback is unlikely to cede its global status for decades to come, if ever — but printing too many dollars may cause big problems, Buffett said.

The dollar is "very expensive in historical terms, suggesting that a narrative of secular dollar decline is not prevalent in the market."

India and Indonesia sign deal to use their local currencies in bilateral trade, ditching the US dollar.

There is an accelerating trend towards global de-dollarization. Whats behind the phenomenon and when did it start?

Russia recently announced the possibility of the gold market’s new bullish momentum with the introduction of a new trading currency backed by gold. This compounds the de-dollarization trend unfolding in the global economy, which included the prevalent historic pace of purchasing precious metals by central banks worldwide since the middle of 2022 to diversify their reserve […]

Russia's trade with Southeast Asia fell by 4.4% in 2022 amid sweeping sanctions against Moscow over its invasion of Ukraine.

A 2019 report from the London School of Economics warned that weaponization of the dollar can trigger a "complete reversal of global economic integration" and geopolitical shifts that destroy the WTO system.

The dollar's dominance is determined by economic factors and not geopolitcal risk, Carla Norrlöf of the Atlantic Council wrote in Project Syndicate.

Recently, the Russian embassy in Kenya said the BRICS group of countries are working on a common currency backed by gold in a bid to dedollarize.

The de-dollarization movement has gathered steam this year, but don't expect any other currency to supplant the greenback anytime soon.