De-Dollarization

The weakness of the US dollar isn't arriving as a one-off shocker. Instead, it's showing up as a structural drift, akin to a glacier movement downhill, with an occasional headline when a bigger piece of ice breaks and rolls off. Although the dollar still remains central in the foreign trade, it's...

The U.S. Dollar Index Spot fell below a key support level on Friday, indicating a further downside risk for the currency amid the ongoing de-dollarization theme and dampening American exceptionalism. Here’s what the technical analysis of the index shows. What Happened: According to the...

Russia and India have announced a partnership to advance digital economy initiatives as part of BRICS international expansion efforts.  What Happened: "Both nations are united by a common goal of building the most modern infrastructure, creating a safe and comfortable urban...

In a significant shift, China’s yuan has surpassed the U.S. dollar as the most traded foreign currency in Russia. This development is a part of the ongoing trend of de-dollarization, reflecting a global move away from the dollar. What Happened: The Renminbi accounted for 42% of all foreign...

Steve Eisman, the star investor portrayed by Steve Carell in “The Big Short,” slapped down talk of the dollar losing reserve currency status.  What happened: In a CNBC interview, Eisman dismissed the idea of the growing U.S. sovereign debt being a problem for the dollar: ...

Former U.S. State Department official Thomas Hill warned that the expansion of the BRICS consortium could potentially speed up the global de-dollarization process, posing a significant concern for the U.S.. What Happened: The inclusion of new members in BRICS (Brazil, Russia, India, China, South...

China and Saudi Arabia have agreed on a currency swap deal worth approximately $7 billion. This agreement signifies another move in the worldwide trend of de-dollarization, as nations shift from the US dollar. The three-year deal allows for a maximum of 50 billion yuan or 26 billion riyals,...

The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, has extended membership invitations to six more countries, in a bid to challenge the dollar’s supremacy and offer an alternative to the dominant Western world order. However, this can...

Nicholas Merten, the host of the popular YouTube channel DataDash, delved deep into the current state of Bitcoin and its potential trajectory, highlighting the failure of several bullish narratives that many believed would propel Bitcoin (CRYPTO: BTC) to new all-time highs. Merten pointed out...

The potential de-dollarization of the global economy presents a risk for the US, as it could lose a crucial tool utilized in managing past economic crises, as per a note by JP Morgan, Business Insider reported. Strategists stated that de-dollarization isn’t likely to result in emerging...

This week, the global economic landscape witnessed significant developments. From the BRICS summit’s discussions on de-dollarization to China’s measures to shield its economy, the world’s financial systems are in flux. Let’s delve into the top stories that made headlines....

The BRICS coalition of Brazil, Russia, India, China, and South Africa has concluded its latest summit in South Africa, adding six nations to its fold but without introducing a new currency to challenge the US dollar. Instead, members held contradictory views about de-dollarization, ...

The pro-Libertarian presidential frontrunner of Argentina Javier Milei wants to do away with the peso for “dollarization.” But economist Paul Krugman has a different take. Milei believes dollarization is essential to tackle the 113% inflation rate. Economist Emilio Ocampo, an adviser to...

Although the greenback should maintain its long-term dominance in the foreseeable future, the global economy is seeing signs of de-dollarization, strategists at JPMorgan said according to a report. Meera Chandan and Octavia Popescu, strategists at JPMorgan, said while overall dollar usage is within...

Billionaire venture capitalist Chamath Palihapitiya reportedly said, in April, that the whole discussion about de-dollarization on social media is a huge “nothingburger” and highlighted the fact that China’s yuan — being talked about as an alternative — is pegged...