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America's political dysfunction, conflict with China pushing dedollarisation: JP Morgan
Umang Sharma •Recent years have witnessed acceleration in trend towards de-dollarization with countries looking out for alternatives to reduce their reliance on the dollar
Egypt drubs dollar in trade with BRICS nations
Umang Sharma •Egypt now seeks to use local currencies to pay for its imports from India, China, and Russia – key members of the BRICS
Even America's biggest bank says de-dollarisation is a trend here to persist
Umang Sharma •The dollar's share of foreign exchange reserves has dropped significantly after the West froze Russia's $330 billion in reserves last year for its invasion of Ukraine
De-dollarization picks up steam: Iraq joins China, Brazil to dump US dollar
Umang Sharma •Over the past few days, senior political leaders, in most parts of West Asia, have been persistently making statements, suggesting the dollar's dominance in the region may fade
US debt ceiling crisis: What a default could mean for America, the world
Fp Explainers •A US default looms large as Republicans and Democrats spar over raising the government’s spending limits. It has forced Joe Biden to cancel his upcoming trip to Australia, resulting in the Quad Summit with leaders from India, Australia and Japan being called off
Argentina dumps US dollar for Chinese yuan: How nations are jumping on the de-dollarisation bandwagon
Fp Explainers •Argentina has joined Brazil to be the latest south-American nation to dump the dollar and trade in the Chinese yuan. Nations across the world, including India, are indulging in de-dollarisation – a push back against the American currency’s hegemony across the world
Dollar’s dominance at risk, says US Treasury Secretary Janet Yellen
Umang Sharma •Several countries have now given up settling cross-border trade in US dollar and are using their local currencies
Can Chinese yuan drub US dollar to become the most dominant currency?
Fp Explainers •The Chinese yuan has left the US dollar behind to emerge as the most-traded currency in Russia. Malaysia and Beijing are ready to hold talks to reduce reliance on the greenback. But, can the Chinese currency end the global dominance of the US dollar?
Dumping the Dollar: Will a new BRICS currency replace the US currency for trade?
Fp Explainers •The BRICS collective, comprising Brazil, Russia, India, China and South Africa, is working on a common currency in an attempt to ditch the US dollar and push back against America’s dominance. The move comes as Moscow and Beijing call for de-dollarisation in the face of Western sanctions
Lebanese pound hits historic low of 100,000 to dollar, say foreign exchange dealers
•The Lebanese pound, officially pegged at 15,000 to the dollar, was trading at 100,000 against the greenback, dealers said -- a dizzying plunge from 1,507 before the economic crisis hit in 2019