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The de-dollarization wave is now gaining rapid momentum, with central banks exploring ways to diversify their holdings beyond the US dollar. A new Reuters report confirms a stark reality of the dollar’s allure waning within the global banks as de-dollarization takes hold. In addition to this, global banks have now begun to eye other lucrative assets, such as the Chinese yuan, gold, and the euro, to back their reserves, thereby keeping the dollar at bay. Also Read: HSBC Sees Euro at 1.20 as De-Dollarization Accelerates Banks Want More Gold, Not the Dollar. Source: Watcher Guru According to a new report by the Official Monetary and Financial Institutions Forum (OMFIF), banks managing trillions worth of reserves have now started to ditch the dollar. The report further adds how one in three of such banks may accelerate their exposure to gold in the coming years, a change that is rapidly gaining momentum in the sector today. “After years of record-high central bank gold purchases, reserve m...

The US dollar is aptly referred to as the King Dollar. With the kingly status in line, the US dollar continues to attract a healthy balance of criticism and praise, only to emerge stronger than before. Despite Yuan’s continuous efforts to derail the US dollar, the American currency has remained unbothered and continues to draw global momentum like never before. Here’s how. Also Read: Shiba Inu (SHIB) DAO To Launch Soon: Will It Help SHIB Claim $0.00003? US Dollar: The King of Currencies Source: Watcher Guru The Chinese Yuan, which is currently being dubbed a central currency challenging the US dollar’s prestige, is nowhere close to derailing the US dollar. Per a recent report by the Economist, the king dollar remains a leading currency player in the global finance domain. USD effortlessly prevents other currencies from taking away its global reserve currency status. The report outlines how the “King Dollar” has remained steadfast in establishing global financial dominance d...

The US dollar has emerged victorious among its competitors, driving the currency dominance game to new levels. The USD has managed to gain prominence against global contenders, defeating competitors like the Yuan and Ruble in its wake.  However, the ongoing USD surge spell might get jinxed sooner or later as competitors around the world are inching towards magnifying the ditching dollar narrative. With ballooning US debt metrics, credit scores, and inflationary pressure, how long would one assume USD’s dominance to stay unscarred?  Also Read: What’s Happening Between the US Dollar & Japanese Yen in 2024? US Dollar’s Rise, Zenith, and Fall Source: stock.adobe.com The US dollar has emerged as one of the strongest currencies to lead the global financial space. The USD has been performing its best since the start of 2024, despite encountering eroding economic narratives. Per NYT, every major currency has fallen against the USD. Nearly 150 global curre...