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Bloomberg
on De-Dollarization of the World
Economy
De-Dollarization Is Happening
at a 'Stunning' Pace
Dollar’s reserve currency status
has fallen precipitously.
Greenback represents 58% of
reserves, down from 73% in 2001.
The dollar is losing its reserve
status at a faster pace than
generally accepted as many
analysts have failed to account
for last year’s wild exchange
rate moves, according to Stephen
Jen.
The greenback’s share in global
reserves slid last year at 10
times the average speed of the
past two decades as a number of
countries looked for
alternatives. The dollar has
lost about 11% of its market
share since 2016.
“The dollar suffered a stunning
collapse in 2022 in its market
share as a reserve currency,
presumably due to its muscular
use of
sanctions.”
~
Stephen Jen, a currency guru.
Backlash Against Weaponized
Dollar Is Growing Across the
World
US increasingly using currency
to fight geopolitical battles
Wary world leaders look to
lessen reliance on greenback
"All around the world, a
backlash is brewing against the
hegemony of the US dollar."
~
Michelle Jamrisko and Ruth
Carson, 06.02.2023
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