The Eclipse of Petrodollar and the Acceleration of De-dollarisation
===============
#6b727f09 ver:0.19
The petrodollar system is facing challenges as de-dollarisation gains momentum. Central banks are increasing gold purchases and local-currency settlement is becoming more common, signaling a shift away from petrodollars. Factors contributing to this shift include the rise of the Global South, China's role as a major importer of Saudi oil, and the risks associated with relying on the US dollar. Digitalization of financial systems has facilitated the use of local currencies for cross-border trade. The acceleration of de-dollarisation is evident in the increasing usage of the renminbi in cross-border payments. US policies have been a driving force behind this trend. Russian President Putin has criticized the US's use of the dollar as a foreign policy tool. Despite these developments, some believe the US dollar's dominance as the world's reserve currency will remain. Nepal stands to benefit from de-dollarisation by achieving more stable economic conditions. #Petrodollar #DeDollarisation #GlobalEconomy...
#newstr #Petrodollar #Dedollarisation #GlobalEconomy #ReserveCurrency #CentralBanks #GoldPurchases #LocalcurrencySettlement #CrossborderTrade #Digitalization #Renminbi
https://here.news/story/6b727f09?ver=0.19
Vladimir Putin Criticizes the U.S. Dollar and BRICS Efforts in De-Dollarization /
npub1de…f0a5c
2024-07-03 06:03:34
Author Public Key
npub1dehn0te39y87vefwq8kn0rfxcff747kuyhnkrlm7aaajpqd9m22slf0a5cPublished at
2024-07-03 06:03:34Event JSON
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"content": "The Eclipse of Petrodollar and the Acceleration of De-dollarisation\n===============\t\n#6b727f09 ver:0.19\n\nThe petrodollar system is facing challenges as de-dollarisation gains momentum. Central banks are increasing gold purchases and local-currency settlement is becoming more common, signaling a shift away from petrodollars. Factors contributing to this shift include the rise of the Global South, China's role as a major importer of Saudi oil, and the risks associated with relying on the US dollar. Digitalization of financial systems has facilitated the use of local currencies for cross-border trade. The acceleration of de-dollarisation is evident in the increasing usage of the renminbi in cross-border payments. US policies have been a driving force behind this trend. Russian President Putin has criticized the US's use of the dollar as a foreign policy tool. Despite these developments, some believe the US dollar's dominance as the world's reserve currency will remain. Nepal stands to benefit from de-dollarisation by achieving more stable economic conditions. #Petrodollar #DeDollarisation #GlobalEconomy...\n\n#newstr #Petrodollar #Dedollarisation #GlobalEconomy #ReserveCurrency #CentralBanks #GoldPurchases #LocalcurrencySettlement #CrossborderTrade #Digitalization #Renminbi \n\n https://here.news/story/6b727f09?ver=0.19",
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