The end of King Dollar? The forces at play in de-dollarisation

LONDON, May 25 (Reuters) – Rivalry with China, fallout from Russia’s war in Ukraine and wrangling once again in Washington over the U.S. debt ceiling have put the dollar’s status as the world’s dominant currency under fresh scrutiny. Russia’s sanctions-imposed exile from global financial systems last year also fuelled speculation that non-U.S. allies would diversify away from dollars. Below are some arguments why de-dollarisation will happen – or possibly why it won’t. SLIPPING RESERVE STATUS The dollar share of official FX reserves fell to a 20-year low of 58% in the fourth quarter of 2022, according to International Monetary Fund…