Written by Dominic DeVitte
Published on to do •
3 Read less
Published on to do •
3 Read less
According to a survey of central banks, the dollar will retain its position as the world’s dominant reserve currency for the next decade.
Why is this important?
Russia, China, Saudi Arabia, India, Malaysia, Brazil, South Africa… in recent weeks mutual trade transactions will – at least partially – not be paid in dollars, but in Chinese yuan or Indian rupees. The devaluation of global trade may have been going on for some time in theory, but in practice the greenback has nothing to fear.In the message. Conducted a survey Official Monetary and Financial Institutions ForumThe United Kingdom-based think tank Central Banks, which manages roughly $5 trillion in assets, expects the dollar’s share of global reserves to decline more gradually.
- Currently, the dollar represents 58 percent of total reserves. This is expected to drop to 54 percent in 10 years
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