[ad_1] © Reuters. In the wake of the ongoing Ukraine war and subsequent sanctions, Russia’s adoption of the could potentially undermine long-term dollar dominance, according to Beata Javorcik, Chief Economist at the European Bank for Reconstruction and Development (EBRD). This shift is primarily attributed to the diversification of invoicing currencies. The statement was made on
[ad_1] © Reuters. The US dollar’s dominance is being threatened by an increasing shift towards yuan-based transactions between Russia and China, as per a recent academic paper co-authored by EBRD’s Chief Economist Javorcik. This development is primarily due to the aftermath of Western sanctions that have driven a commerce surge between the two nations. According
[ad_1] © Reuters. FILE PHOTO: An employee counts U.S. dollar notes at a money changer in Jakarta January 27, 2010. REUTERS/Beawiharta/File Photo LONDON (Reuters) – The dollar is unlikely to lose its status as the global reserve currency anytime soon, even as the expansion of the BRICS group of developing nations signals another challenge to
[ad_1] © Reuters. FILE PHOTO: An informal currency trader holds U.S. Dollar bills on a street, in La Paz, Bolivia March 6, 2023. REUTERS/ Claudia Morales/File Photo LA PAZ (Reuters) – Bolivia’s government is determined to curb dependence on the U.S. dollar for foreign trade, instead turning to the , officials said, as Latin American
