Watcher Guru: Global US Dollar Payments Fall Below 50%
Article by Vinod Dsouza in Watcher Guru
There is no doubt that the US dollar dominates global payments but the scale and size of its transactions are shrinking lately. A handful of developing countries are cutting ties with the US dollar accusing the White House of weaponizing the currency. BRICS kick-started the de-dollarization agenda to challenge US supremacy and bring the dollar down from the world’s reserve currency status.
The initiative seems to be working as global payments in the US dollar dipped below 50% in October 2024.
BRICS: Payments in the US Dollar Dip to 47% in October 2024
The latest data from the SWIFT payment messaging system shows that the global share of transactions in the US dollar has fallen to .....