Post
Topic
Board Economics
Re: Ditching US doller
by
Lucius
on 27/12/2023, 15:56:08 UTC
~snip~

Maybe it's a local thing, but I see that you wrote "doller" several times instead of "dollar".

As for the fact that some countries want to reject or have already rejected the US dollar, that is a matter of their personal choice - and as far as I know, even before the war in Ukraine, the largest Russian company switched its oil trading from the US dollar to the euro. Today, that trading can be in rubles or rials or in some third currency if the countries so agree.

The US dollar is still the world's reserve currency, but just today I read that Saudi Arabia and China have concluded some kind of agreement where they are also moving in the direction of trading in their national currencies. I am not surprised at all, because it is not realistic to expect that countries like Russia or Iran or even China do not try to be less dependent on the US dollar.

History has shown that nothing lasts forever, neither empires nor currencies.