De-dollarisation: The eroding dominance of the US Dollar

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The US dollar has long been the world's reserve currency, but its dominance is under threat. In recent years, there has been an accelerating trend towards de-dollarization as countries seek to reduce their reliance on the dollar. The dominance of the US dollar in international trade and finance has faced increasing challenges, leading to discussions about the future of global economic dynamics and the potential consequences for various stakeholders. This trend, known as de-dollarization, refers to the process by which countries aim to reduce their reliance on the US dollar as the dominant global currency. Reasons Behind De-dollarization 1] The...