Page 13 - De Dollarization News Today

Cuban President Miguel Diaz-Canel has asked developing countries to dump the US dollar as it would set them free from Washingtons sanctions, blackmail, aggression, and slander

The US dollars hegemony, which is based on the currencys dominant role in fundraising and international commerce, is unlikely to be challenged by the proposed petroyuan or a common currency for the BRICS grouping. However, blockchain technology may be able to eliminate the need for the dollar as a middleman in illiquid currency corridors, reducing transaction costs by up to $120bn a year. While the coordination and trust required to create a multicurrency central bank digital currency network ma...

According to a survey by the World Gold Council, 62% of central banks expect gold will have a greater share of total reserves in coming years.

China doesn't want de-dollarization. Yuan overtaking the dollar comes with its own set of problems — like Beijing's unwillingness to open its capital accounts, or running a deficit.

Jim Rogers, the cofounder of George Soros' Quantum Fund, warns that excessive borrowing has paved the way for a worse bear market than in 2008.

At a time when over 85 per cent of global trade is still being transacted in US dollars and President Biden is playing ping-pong with his nation’s China policy, New Delhi cannot afford to take more risks that it can do without until there is greater clarity

"De-dollarization is not a voluntary choice by countries anymore," Iran's first vice president said on Tuesday.

BlackRock's Rick Rieder was commenting on the implications of US treasury bills facing a ratings downgrade, should the country default on its debt.

Sergey Lavrov said that Russia has many allies and like-minded friends who echo Moscow’s stance on reducing the prominence of US dollar

Faced with the dollar shortage affecting Bolivia, the government of Luis Arce is considering expanding its foreign trade through currency exchange with China.