Page 8 - De Dollarization News Today

The Reserve Bank of India is pushing for non-dollar trade with the United Arab Emirates, sources told Reuters.

Debt-ceiling standoffs and "growing weaponization" could undermine the currency, Benn Steil has warned.

"The recent decline and volatility in the Chinese Yuan, the Russian Ruble, and to a lesser extent the Argentine Peso, will only add further challenges to the idea of de-dollarization," an analyst told Insider.

If the dollar should lose its privileged place, what could replace it?

The John Hopkins University professor echoed Argentina's presidential candidate, who also called for ditching the peso to rein in inflation.

Last month saw the US dollar index falling below its important 100 level, amid reports about the greenback being on the “verge of decisive breakdown.”

The dollar could come under threat if the government doesn't "keep some discipline," the Blackstone CEO said after Fitch's downgrade.

The crippling sanctions imposed by the US on countries such as Iran and Russia have prompted them to look for ways to ditch the greenback that US uses as a “stick” against others, says an Indian journalist.

"Much is riding on how Washington uses the power that comes with the world's dominant currency."

China wants the yuan to play a more prominent global role but doesn't necessarily want it to be the world's dominant reserve currency right now.