Central Banks Dumping the US Dollar as De-Dollarization accelerates

Although the US dollar is still a king among world currencies its influence has come under serious challenge. De-dollarization has already been in action for quite some time now as the global geopolitical space is divided into two camps, one who supports US currency as a global reserve tool and other ones are those that have turned their backs on the greenback.

Countries like China, Russia, Iran, India, and Turkey among others have taken steps towards ending the US dollar monopoly.

Its share in global central bank reserve is also taking a hit as it slumped to the lowest level since 2013 while Chinese yuan share has risen significantly. Also, De-dollarization is turning out to be beneficial for gold as countries and central banks around the world are hoarding gold to offset the dominance of the US dollar.
See the full report in this article: https://bitcoinexchangeguide.com/de-dollarization-accelerating-as-central-banks-dumping-the-us-dollar/

Sign In or Register to comment.