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De-Dollarization Threatens US Dollar’s Reserve Currency Status
De-Dollarization Threatens US Dollar’s Reserve Currency Status
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The de-dollarization movement, spearheaded by major developing economies, is challenging the US dollar’s dominance as the global reserve currency. Countries including India, China, the UAE, and Brazil are increasingly settling cross-border trades in local currencies—a strategic shift aimed at bolstering domestic GDP and reducing reliance on the dollar.
Despite these efforts, no single alternative currency has emerged to displace the dollar’s hegemony. The initiative reflects a broader push for financial sovereignty among emerging markets, with implications for forex markets and global trade dynamics.
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