The US dollar will continue to exist in the global trade, said the official | Photo Credit: SUKREE SUKPLANG BRICS nations will work on increasing their understanding of the importance of having an alternative mechanism to do trade in national currencies to protect against geopolitical vulnerabilities, but the process is not the same as de-dollarisation, a senior MEA official has said “The dollar (US) will continue to exist in the global trade. It’s the most dominant currency. I don’t think there’s a competition there. It’s just that countries will look for...
A new survey of central banks suggests growing skepticism about the future of the US dollar and its role in the global economy. Analysts from the Official Monetary and Financial Institutions Forum (OMFIF) – an independent think tank organization concerned with central banking, economic policy and public investment – say there is a global shift away from the dollar and into other currencies, primarily the euro and the renminbi. In the 2025 edition of its Global Public Investor report, which surveys 75 central banks around the world, OMFIF says there...