The latest swell of dedollarization really gained steam after the U.S. levied harsh financial sanctions against Russia for invading Ukraine. Russia, its allies and economic partners have gone as far as discussing creating a brand new currency to combat dollar dominance.
Advertisement
As the current world reserve currency, the U.S. dollar is at the center of the vast majority of global transactions.
But those sanctions have in turn spurred renewed desires by some nations to move away from the U.S. dollar.
Join the conversation as a VIP Member