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The US dollar's position as the world's primary reserve currency has endured for over eight decades, weathering numerous economic crises, geopolitical shifts, and challenges from emerging economies. Despite periodic predictions of its decline, the greenback continues to dominate international finance, trade, and central bank reserves. Understanding why this supremacy persists requires examining the complex interplay of historical, economic, and institutional factors that reinforce America's monetary hegemony.Historical foundation and the Bretton Woods LegacyThe dollar's reserve currency status originated from the 1944 Bretton Woods Agreement, which established a new international monetary system...

​​​​ST. PETERSBURGThe US dollar’s monopoly will slowly end as Washington is using it for political purposes, Andrey Kostin, CEO of the Russian VTB Bank, said in a recent statement.Kostin told Anadolu at the St. Petersburg International Economic Forum that sanctions imposed on Russia are illegitimate and the country is used to the treatment by the international community.“Sanctions are certainly bad, but we have to work regardless,” he said. Kostin stated that there has been a pause in sanctions on Russia during US President Donald Trump’s second term in office but...

The euro is the world’s second most-used currency, accounting for 20% of global foreign exchange reserves, compared with 58% for the US dollar.Harbour Asset Management fixed income and currency strategist, Hamish Pepper, said the greenback was losing favour, but only at the margin.“The set-up to this weakness in the US dollar was one where pretty much everybody acknowledged that it was an expensive, or overvalued, currency,” Pepper said.AdvertisementAdvertise with NZME.“It’s been supported by this exceptional US economy, so that was the story.“All of a sudden we’ve had a couple of...

Chinese tech giants Huawei Technologies and ByteDance are planning major investments in Brazil’s cloud infrastructure and artificial intelligence sectors, moves likely to deepen US concerns over Beijing’s expanding digital reach in Latin America.The Brazilian newspaper Folha de S. Paulo reported on Monday that Huawei is set to announce a deal with Dataprev – a state-run technology company that manages the country’s social data systems – to use its data centres. Huawei is also in talks with Edge UOL, a cloud services arm of Grupo UOL PagSeguro, which also owns Folha.Executives...

The dollar has sunk to its lowest in three years as rapidly changing US trade policy unsettles markets and expectations build for Federal Reserve rate cuts, fuelling outflows from the world’s biggest economy.While the dollar was higher on Friday, lifted by safe haven flows as Israel launched a strike on Iran, it was still set for its biggest weekly drop in a month.It is also down almost 10% against a basket of major currencies this year, leaving other countries grappling with unanticipated FX moves that are having a knock-on impact...

Supranext launches complementary currencies in the US to revive local economies and empower small businesses through a stable, three-tiered system of crypto, paper, and coin-based tools. Rome, Italy, June 12, 2025 (GLOBE NEWSWIRE) -- Supranext, a next-generation hybrid financial operator, announces the launch of its three-tiered complementary currency system, comprising a crypto-based token, physical paper vouchers, and metallic coins. The system aims to function alongside national currencies, offering a new form of liquidity to underserved regions and businesses. Supranext"Our goal is to infuse vitality into the parts of the US...

    The former governor of Nigeria’s Anambra State and his wife shifted ownership of some of their US property holdings beginning in 2022, a few months after he was arrested on suspicion of misappropriating public funds. The case continues and the former governor has denied charges against him, which include embezzlement and money laundering. Willie Obiano served as governor of Anambra from 2014 to 2022, and was arrested immediately after leaving office, as he was about to board a flight from Lagos to Houston. After his arrest, Mr Obiano...

BENGALURU, June 3 (Reuters) - U.S. home prices will rise steadily over coming years on an expected further decline in mortgage rates, according to property experts in a Reuters survey who expressed a near-unanimous view President Donald Trump's tariffs would hinder affordable home construction.The same analysts had said three months ago that affordability and turnover in the market would improve, an upbeat outlook hinging on expectations the Federal Reserve will resume cutting interest rates after staying on the sidelines all year. Sign up here.That optimism has since been tempered with...

Emerging market currencies rose, as President Donald Trump’s move to extend a deadline for aggressive tariffs on the European Union bolstered risk appetite.JPMorgan’s Emerging Market Currency Index edged higher, on track to kick off its eighth consecutive week of gains, which would mark its best run since at least 2010. Meanwhile, MSCI’s gauge of EM currency returns climbed as much as 0.4% to match its all-time high. Enthusiasm for the greenback has faded this year due to Washington’s unpredictable trade policy and concerns about the deficit, with developing-nation currencies some...