Which nations are dumping the US dollar?


Source: firstpost.com firstpost.com

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The king of currency, the dollar, is on shaky ground. In this past one year, there’s a growing trend of countries sidestepping the US dollar and choosing to use their own local currencies for bilateral trade. The de-dollarisation process – moving away from trading in the dollar and instead choosing local currency – has received a boost after the Russia-Ukraine war and as Washington’s tensions with Beijing rise even further. In South America, China’s yuan has made greater inroads. After Brazil agreed to trade with China in the local currency, Argentina, on Wednesday, too agreed to the same. The South...