US responsible for de-dollarization, says IMF
1 year, 6 months ago

US responsible for de-dollarization, says IMF

Firstpost  

Washington’s policies and actions have compelled most countries across the world to seek alternatives to US dollar, said International Monetary Fund’s executive director for Russia, Aleksei Mozhin. ‘Process of de-dollarization has begun’ “It’s clear that it will not happen at once, but the process has begun,” Mozhin said, anticipating a steady decline in the dominance of dollar. “I think our foreign policy has something to do with that … We’ve pushed all of our adversaries farther and farther away from us and closer and closer together,” Paul said. ‘Wrong for dollar to be widely used globally’ Mozhin further claimed that the US government has been using dollar “for the purposes of national interests” and “the economic and financial obligations of one country,” which is “wrong” for the currency to be widely used globally.

Dollar Mozhin  countries  widely  yuan  used  process  responsible  dominance  imf  mozhin  dedollarization  dollar  wrong

History of this topic

‘Let yuan fall’: China’s new mantra to counter Trump tariff as Xi battles to revive economy
4 weeks, 2 days ago

‘Let yuan fall’: China’s new mantra to counter Trump tariff as Xi battles to revive economy

Firstpost  

China is considering allowing its currency yuan to weaken in 2025 as the country braces for higher US trade tariffs as Donald Trump returns to the White House on January 20, 2025 As per analysts, the yuan may fall to 7.37 per dollar by the end of 2025, though a key factor will be how much Donald Trump raises tariffs …

Could Trump as president accelerate de-dollarisation?
4 weeks, 2 days ago

Could Trump as president accelerate de-dollarisation?

Hindustan Times  

De-dollarisation, or the ongoing efforts by many countries to reduce dependence on the United States dollar, is not a new phenomenon. However, despite its positives — highest volume of underlying physical trade, increasing trading and settlement volumes, large number of bilateral treaties, and, a remarkably large bond market — there are major countervailing negatives, primarily that the currency is not …

De-dollarization debate: The US-led West should rethink its dollar diplomacy
1 month ago

De-dollarization debate: The US-led West should rethink its dollar diplomacy

Live Mint  

Amid the recent maelstrom of political news was an important development for the future of technology-enabled public money. Conceived in 2022 as a clearing-house for central-bank digital currencies, mBridge had anchored the BIS’s own work towards a global interbank settlement system to connect CBDCs beyond the control of any single government. It was intermediated private money that exported Western rules …

Trump vows to defend U.S. dollar hegemony, but is it under threat?
1 month, 1 week ago

Trump vows to defend U.S. dollar hegemony, but is it under threat?

Raw Story  

U.S. President-elect Donald Trump has threatened retaliation against governments that challenge the US dollar, vowing "100 percent tariffs" on countries that undercut the US currency. "The US dollar remains as dominant as ever as a global funding currency, a payment currency for international transactions, and a reserve currency," said Eswar Prasad, a professor of international trade policy at Cornell University …

Grand Strategy: The temptation to de-dollarise
1 month, 1 week ago

Grand Strategy: The temptation to de-dollarise

Hindustan Times  

President-elect Donald Trump’s warning to the BRICS nations including India—demanding a commitment not to create a new BRICS currency or alternatives to the US dollar—is both provocative and a harbinger of challenges ahead. In a way, Indian responses to various de-dollarisation attempts - which could theoretically pave the way for a more multipolar world departing from the current US-led status …

Why is Donald Trump threatening Brics members against de-dollarisation?
Top News
1 month, 1 week ago

Why is Donald Trump threatening Brics members against de-dollarisation?

Firstpost  

Donald Trump has demanded that Brics members promise not to create a new currency or support another currency to replace the United States dollar as the world’s reserve currency. Trump has demanded that Brics member nations promise not to create a new currency or support another currency to replace the United States dollar. “We require a commitment from these countries …

“Find another sucker”: Trump threatens 100% tariff on countries that resist U.S. dollar
1 month, 1 week ago

“Find another sucker”: Trump threatens 100% tariff on countries that resist U.S. dollar

Salon  

President-elect Donald Trump's tariff threats continued on Saturday with a pledge to enact 100% tariffs on a bloc of nine countries if they shift away from the U.S. dollar in international trade. “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar,” Trump …

Donald Trump seeks ‘commitment’ from BRICS on using US Dollar or else ‘should expect to say goodbye to…’
1 month, 1 week ago

Donald Trump seeks ‘commitment’ from BRICS on using US Dollar or else ‘should expect to say goodbye to…’

Hindustan Times  

US President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency as an alternative to using the US dollar and repeated threats to levy a 100% tariff. “The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch …

US Treasury finds no currency manipulation in final Biden-era foreign exchange report
1 month, 3 weeks ago

US Treasury finds no currency manipulation in final Biden-era foreign exchange report

Hindustan Times  

* US Treasury finds no currency manipulation in final Biden-era foreign exchange report Treasury issues last currency manipulation report of Biden era * Trump administration will take over policing in 2025 By David Lawder WASHINGTON, - No major U.S. trading partner manipulated its currency in the year to June 30, the Treasury Department said on Thursday in the Biden administration's …

Global Shift: Multilateralism as the Key to De-Dollarization
2 months, 2 weeks ago

Global Shift: Multilateralism as the Key to De-Dollarization

Live Mint  

The article discusses the debate surrounding de-dollarization and the potential benefits and challenges associated with it. It highlights the importance of a multipolar global monetary system and the need for international dialogue and coordination to address concerns of the developing world. The article suggests measures such as encouraging the use of other major currencies alongside the dollar, promoting the internationalization …

Sanctions will result in reduction of dollar's influence
5 months, 1 week ago

Sanctions will result in reduction of dollar's influence

China Daily  

MA XUEJING/CHINA DAILY Editor's note: The world has undergone many changes and shocks in recent years. Confidence in the dollar has recently declined due to the illegal freezing and subsequent confiscation of Russian assets by the G7 countries, disrupting the stability of the current global financial system. During the same period, the other BRICS countries decreased their holdings of US …

Sanctions will result in reduction of dollar's influence
5 months, 1 week ago

Sanctions will result in reduction of dollar's influence

China Daily  

MA XUEJING/CHINA DAILY Editor's note: The world has undergone many changes and shocks in recent years. Confidence in the dollar has recently declined due to the illegal freezing and subsequent confiscation of Russian assets by the G7 countries, disrupting the stability of the current global financial system. During the same period, the other BRICS countries decreased their holdings of US …

Demise of dollar's FX reserve omnipotence greatly exaggerated: McGeever
7 months ago

Demise of dollar's FX reserve omnipotence greatly exaggerated: McGeever

Hindustan Times  

By Jamie McGeever Demise of dollar's FX reserve omnipotence greatly exaggerated: McGeever ORLANDO, Florida, - After two decades of the dollar's share of global foreign exchange reserves gradually eroding to less than 60%, economic, financial and geopolitical stars are aligning to halt that trend in the next few years and possibly even reverse it. But according to the OMFIF's 'Global …

Trump trade advisers plot dollar devaluation
8 months, 3 weeks ago

Trump trade advisers plot dollar devaluation

Politico  

“Currency revaluation is likely to be a priority for some members of a potential second Trump administration, mainly because of the viewpoint that contributes to the trade deficit,” said one former Trump administration official, adding that Lighthizer and his team are the primary advocates for the approach. Lighthizer “frequently” brought up currency devaluation during Trump’s first term, said one former …

The World’s Dollar Addiction Is Hard to Kick
1 year, 3 months ago

The World’s Dollar Addiction Is Hard to Kick

Live Mint  

Many central banks and governments around the world want to kick their dollar addiction. Since Russia’s invasion of Ukraine, which dealt another blow to the established order, dollar reserves have fallen 2.9%, despite a jump in the currency’s value. Argentina, which has been left without dollars following hefty payments to the IMF, has resorted to swapping yuan with the People’s …

Dollar’s Resurgence Is a Headache for the Rest of the World
1 year, 3 months ago

Dollar’s Resurgence Is a Headache for the Rest of the World

Live Mint  

The dollar bounced back with a vengeance in the third quarter, threatening global central bankers’ tricky task of bringing down inflation while protecting fragile economic growth. “The markets have consistently tried to price in rosy scenarios which were associated with a weaker dollar and they continue to be surprised that the reality isn’t quite as rosy,” said Maurice Obstfeld, former …

Familiar source of global financial problems
1 year, 3 months ago

Familiar source of global financial problems

China Daily  

A worker counts Chinese currency renminbi at a bank in Linyi, East China's Shandong province. To ease the inflationary pressure, the Federal Reserve began a radical interest rate hike cycle in March 2022, which caused serious negative spillover effects on the world economy. For a long time, the US has used its dollar hegemony in the international monetary system to …

America's political dysfunction, conflict with China pushing dedollarisation: JP Morgan
1 year, 5 months ago

America's political dysfunction, conflict with China pushing dedollarisation: JP Morgan

Firstpost  

Recent years have witnessed acceleration in trend towards de-dollarization with countries looking out for alternatives to reduce their reliance on the dollar For long, the dollar has been the world’s reserve currency, but its dominance is now under threat as more countries are joining the growing list of nations that want to shun the US currency and trade in their …

Is the dollar getting dethroned? Not quite
1 year, 7 months ago

Is the dollar getting dethroned? Not quite

Hindustan Times  

There are some keywords that are periodically tossed around to indicate a looming crisis. Two, the yuan as a reserve currency – or the so-called yuannabe narrative – will not save the world which is still not ready to hand over the keys to a communist dictatorship. In fact, as the US moves towards another debt ceiling hike drama in …

De-Dollarisation Trend: Why It Matters And What Investors Should Know?
1 year, 8 months ago

De-Dollarisation Trend: Why It Matters And What Investors Should Know?

News 18  

Argentina on Wednesday April 26, announced that it will pay in yuan for Chinese imports instead of the US dollar. As the world debates the merits and demerits of de-dollarisation, let us look at what the term means, and its possible impacts on the world economy. De-dollarisation basically means reducing the dependence on the US dollar as a medium of …

Are we seeing a de-throning of the dollar?
1 year, 8 months ago

Are we seeing a de-throning of the dollar?

Hindustan Times  

Since early 2023, the international currency discussion has gained enormous traction. Further, in January 2023, several countries in South East Asia also deliberated over how to circumvent the US currency dominance; meanwhile, the dollar continues to gain strength. However, since the US dollar exchange rates have reached the highest in 20 years amongst the kitty of currencies, this rapid rise …

World shifts away from using the dollar
1 year, 8 months ago

World shifts away from using the dollar

China Daily  

A ship carrying soybeans from Brazil arrives at a port in Haikou, Hainan province, in July. GUO CHENG/XINHUA Yuan used increasingly in preference to US currency for trade settlements Economies across the world are exploring the use of convenient currencies other than the United States dollar for trading. Analysts believe that China and other countries are gradually reducing their dependence …

Why de-dollarization is inevitable
1 year, 8 months ago

Why de-dollarization is inevitable

China Daily  

In 1023, a thousand years ago, the Song Dynasty changed the history of money by introducing paper money, jiaozi, as legal tender and a means of exchange. A full millennium later, China is again set to transform the history of money, first, by spearheading the transition from paper money to the era of digital currency, leading the world in mobile …

Can Chinese yuan drub US dollar to become the most dominant currency?
1 year, 9 months ago

Can Chinese yuan drub US dollar to become the most dominant currency?

Firstpost  

The rising influence of China’s currency yuan has prompted questions about whether it can oust the US dollar as the world’s dominant currency. Yuan topples US dollar in Russia Russia turned to China’s currency amid Western sanctions following Moscow’s invasion of Ukraine last February. However, the US dollar still commanded Brazil’s total foreign reserves last year, with 80.42 per cent …

Will Russia sanctions dethrone ‘King Dollar’?
1 year, 10 months ago

Will Russia sanctions dethrone ‘King Dollar’?

Al Jazeera  

A flood of nations is trying to cut dependance on the dollar, fearing ‘weaponisation’ by the US. Now, another war is setting the stage for many countries to explore a move away from the dollar for trade, raising questions over the currency’s future dominance. The financial world’s ‘nuclear option’ The US-led sanctions freezing Russia’s ability to use half of its …

US dollar fast losing out to the Chinese yuan, says 'Doctor Doom' Nouriel Roubini
1 year, 11 months ago

US dollar fast losing out to the Chinese yuan, says 'Doctor Doom' Nouriel Roubini

Firstpost  

Nouriel Roubini said even though there is no currency yet which is capable of knocking the US dollar off its pedestal, but the greenback is rapidly losing its competitive advantage to the Chinese yuan New York: The US dollar is quickly losing its competitive edge and its status as the world’s main reserve currency is in jeopardy, said economist Nouriel …

Dollar’s rise spells trouble for global economies
2 years, 3 months ago

Dollar’s rise spells trouble for global economies

Live Mint  

The U.S. dollar is experiencing a once-in-a-generation rally. “It’s not going to be contained.” A stronger dollar makes the debts that emerging-market governments and companies have taken out in U.S. dollars more expensive to pay back. “Whether the ECB turns more hawkish, whether there’s some improvement on the economic outlook, whatever happens, it’s generally offset by further dollar strength,” he …

Russia's de-dollarization drive more than symbolic
2 years, 10 months ago

Russia's de-dollarization drive more than symbolic

China Daily  

The Ukraine crisis is showing little sign of being resolved. Unhappy with the US dollar's domination of the global economy despite the declining US economy, Russia has implemented de-dollarization policies to safeguard its monetary sovereignty, offset the impact of the financial sanctions by the US and the EU, and make the international financial order more dynamic. As such, the rivalry …

Will the US Dollar’s Dominance Last?
2 years, 11 months ago

Will the US Dollar’s Dominance Last?

The Diplomat  

When it comes to embracing the digital currency revolution, the United States is beginning to fall behind China and a number of other countries. For the U.S. Federal Reserve to be especially cautious about delving into central bank digital currencies is hardly surprising, and the Fed has every reason to be careful, given the U.S. dollar’s international standing as a …

Is US dollar’s reign as world’s reserve currency is under threat?
4 years, 5 months ago

Is US dollar’s reign as world’s reserve currency is under threat?

Live Mint  

The dollar’s rise to become the dominant currency started after World War I, but it was only definitively confirmed by the Bretton Woods accord reached in 1944. Wider use of SDRs as a reserve currency would reduce developing economies’ need for foreign exchange reserves as “self-insurance.” SDRs became a go-to reserve asset when the dollar fell 34% vs. the yen …

China is saving stimulus for trade war winter as yuan weakens
5 years, 4 months ago

China is saving stimulus for trade war winter as yuan weakens

Live Mint  

Chinese policy makers are holding back from rolling out the big guns of monetary stimulus, keeping options in reserve as the trade standoff with the U.S. risks morphing into a global currency war. Officials are sticking to a cautious monetary strategy even after tensions with the U.S. worsened, with President Donald Trump’s accusations of Beijing’s currency manipulation adding sensitivity to …

Explained: Why has the U.S. accused China of deliberately weakening the yuan?
5 years, 5 months ago

Explained: Why has the U.S. accused China of deliberately weakening the yuan?

The Hindu  

The story so far: On Monday, the United States designated China as a “currency manipulator”. The move came immediately after the People’s Bank of China, the Chinese central bank, let the yuan weaken past the psychologically significant CNY7 to the dollar mark. The present devaluation of the currency has gained significance in light of the ongoing trade war between the …

IMF warns increasing US tariffs could cut China growth sharply
5 years, 5 months ago

IMF warns increasing US tariffs could cut China growth sharply

Live Mint  

China's economy already is slowing amid the trade conflict with the United States, but if Washington were to ramp up tariffs even further it could cut Chinese growth sharply, the IMF warned Friday. The annual review of China's economy — known as the Article IV report — was completed before President Donald Trump announced plans to impose 10 percent punitive …

Trump’s unrelenting global trade wars have sealed our financial fate
5 years, 5 months ago

Trump’s unrelenting global trade wars have sealed our financial fate

The Independent  

I keep a 1 yuan coin on my keyboard. The Chinese authorities’ response has been to allow the renminbi to drift lower – “manipulating” it, in US terms. Indeed, the yield on long-dated German government bonds has turned negative, meaning that you, the “depositor”, will actually get marginally less back in cash terms in three decades than you have lent …

Amid trade war, US designates China as a ‘currency manipulator’
5 years, 5 months ago

Amid trade war, US designates China as a ‘currency manipulator’

Hindustan Times  

The United States on Monday formally named China a currency manipulator, accusing Beijing of weakening the yuan as the two countries’ trade war escalates. The move came as China earlier on Monday allowed its currency to fall to its weakest levels against the dollar in almost a decade, prompting irate Twitter outbursts from US President Donald Trump and sending global …

US-China trade war intensifies: Donald Trump administration designates Beijing a currency manipulator
5 years, 5 months ago

US-China trade war intensifies: Donald Trump administration designates Beijing a currency manipulator

Firstpost  

The Trump administration’s dramatic move against China hastened the risk aversion seen in global markets this week Tokyo: Global stocks extended their already substantial losses and the offshore yuan hit an all-time low on Tuesday after Washington designated Beijing a currency manipulator in a rapid escalation of the US-China trade war. “Following the latest development in the US-China trade war, …

Calling out China over its currency is an empty threat
5 years, 5 months ago

Calling out China over its currency is an empty threat

CNN  

Hong Kong CNN Business — The United States just formally labeled China a “currency manipulator.” The move is largely symbolic, but it does show that the trade spat between the world’s two largest economies is likely to get much worse before it gets better. The People’s Bank of China knew that “going through 7 would be an irritant in trade …

Trump administration labels China a currency manipulator
5 years, 5 months ago

Trump administration labels China a currency manipulator

CNN  

Washington D.C. CNN Business — The Trump administration on Monday designated China a “currency manipulator,” after the country’s central bank allowed its currency to weaken amid the ongoing trade dispute. Not anymore!” The People’s Bank of China allowed its currency to fall below 7 yuan to the American dollar, which is considered to be a psychologically important marker, for the …

Yuan fall: The United States and China may be headed for a currency war
5 years, 5 months ago

Yuan fall: The United States and China may be headed for a currency war

CNN  

London CNN Business — China may have just fired the opening shot of a currency war with the United States. The Chinese central bank said the move mostly reflected market concern about “trade protectionism and new tariffs on China.” President Donald Trump escalated the trade war last week by announcing that the United States would tax just about every Chinese …

US-China trade deal leaves currencies as next fighting ground
5 years, 10 months ago

US-China trade deal leaves currencies as next fighting ground

Live Mint  

Hong Kong: The US and China are edging closer to resolving differences on currencies that have bogged down economic talks for nearly two decades. With both nations inching towards a trade deal that’s expected to include a provision for China to hold the yuan stable, US President Donald Trump is shifting his gaze to the dollar’s strength. China’s yuan surged …

Instability forcing Russia away from dollar settlements: Putin
6 years, 1 month ago

Instability forcing Russia away from dollar settlements: Putin

The Quint  

Moscow, Nov 29 Instability in US dollar-based settlements is forcing many economies, including Russia, to cut the share of such settlements with other countries and look for alternative currencies, Russian President Vladimir Putin said Wednesday. "We are not aiming to move away from the dollar, the dollar runs away from us," Putin said at an annual investment forum "Russia Calling", …

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