dedollarization – Page 3

Central Banks Reduce US Dollar Holdings, Plan to Increase Chinese Yuan Exposure, Study Shows

July 11, 2023

A study by a $1.5 trillion asset management firm has revealed that central banks are reducing their U.S. dollar holdings while seeking to increase Chinese yuan holdings. “Central banks are diversifying currency holdings, stirred by geopolitical uncertainties and attractive opportunities in emerging markets,” the study shows. ’Central Banks Are Diversifying Currency Holdings’ Invesco, an asset…
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Bolivia’s President Calls on South American Countries to Ditch US Dollar, Bolster Alliances With China and BRICS

July 6, 2023

Bolivia’s President Luis Alberto Arce Catacora (Lucho Arce) has urged members and associated states of the Mercosur trade bloc to de-dollarize and establish stronger strategic alliances with international organizations, including the BRICS group. “We are experiencing a crucial moment of transition towards a multipolar world that guarantees a balance of powers and respects the principle…
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Xi Jinping, Vladimir Putin Push for Increased Settlements in National Currencies

July 5, 2023

Chinese President Xi Jinping and Russian President Vladimir Putin have pushed for the increased use of national currencies in mutual settlements as more countries shift away from the U.S. dollar. “I consider it essential to increase the share of settlements in national currencies” within the Shanghai Cooperation Organisation, said Xi at Tuesday’s SCO summit. Meanwhile,…
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Chatgpt Accounts Found on Darknet, North Korean Analyst on Dollar Dominance, BCH Hashrate Rises With Price, and More — Week in Review

July 2, 2023

It’s been an action-packed week in the world of finance and crypto, and moving into July, there’s a lot to cover to get up to speed: compromised Chatgpt accounts being sold on darknet markets, Bitcoin Cash’s hashrate shooting upward with the BCH price, a North Korean analyst weighing in on threats to U.S. dollar dominance,…
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Yuan Usage Soars in Argentina: Over 500 Companies Request to Pay for Imports in Chinese Currency, Report

June 27, 2023

Over 500 companies in Argentina have reportedly requested to pay for imports using Chinese yuan as the U.S. dollar shortage worsens. “The central bank doesn’t have dollars so it needs the emergency aid China is offering,” a trade economist in Buenos Aires explained. Chinese Yuan Usage Hits Record High in Argentina The Argentine customs agency…
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US Treasury Secretary Defends Dollar Dominance as Emerging Markets Push to De-Dollarize

June 25, 2023

U.S. Treasury Secretary Janet Yellen has defended the dominance of the U.S. dollar amid rising efforts by emerging countries to de-dollarize. Brazilian President Luiz Inácio Lula da Silva, in particular, is set to raise the issue of de-dollarization at the next BRICS meeting. “There is a very good reason why the dollar is used widely…
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Brazil to Push De-Dollarization Agenda at BRICS Meeting

June 24, 2023

Brazilian President Luiz Inácio Lula da Silva has revealed his intention to raise the issue of de-dollarization at the next BRICS meeting. “Why Brazil and Argentina would trade in dollars. Why don’t we do it in our own currencies? Why can’t Brazil and China trade in their currencies? The question of why I need to…
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Federal Reserve Chair Discusses De-Dollarization Threat, Risk of US Dollar Losing Reserve Currency Status

June 23, 2023

Federal Reserve Chairman Jerome Powell has discussed the threat of de-dollarization and the risk of the U.S. dollar losing its world’s reserve currency status. He believes that the USD hegemony is a consequence of America’s economic dominance. Fed Chair Powell on Threat of De-Dollarization, USD Losing Reserve Currency Status Federal Reserve Chairman Jerome Powell addressed…
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JPMorgan CEO Jamie Dimon Urges Against Challenging US Dollar’s Reserve Currency Status

June 8, 2023

JPMorgan Chase CEO Jamie Dimon has urged against challenging the U.S. dollar’s reserve currency status amid the ongoing de-dollarization trend globally. “The United States is the fundamental foundation of the global economy. The U.S. dollar is the fundamental reserve currency,” Dimon said, emphasizing: “We shouldn’t be challenging that.” JPMorgan CEO Jamie Dimon on De-Dollarization and…
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‘Weaponization Project of the Dollar’: Asian Countries Talk De-Dollarization; Jim Rogers Says USD’s Time ‘Coming to an End,’ and More — Week in Review

May 28, 2023

The future fate of the U.S. dollar continues to dominate financial news, as investor Jim Rogers says the USD’s time is “coming to an end,” and nine Asian countries have been discussing de-dollarization measures in Iran. In other news, an expert has predicted that the price of gold will skyrocket due to economic conditions, and…
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