Watch: The dollar’s dominance is secure, despite BRICS countries’ hopes
The American dollar’s position as the world’s preferred reserve currency is not in immediate danger. But might that one day be threatened by emerging market countries, notably the BRICS bloc? ING’s Dmitry Dolgin explains what’s going on. And we’ve written extensively about so-called ‘de-dollarisation’ here
The dollar’s dominance is secure, despite BRICS countries’ hopes
A key question for global trade is whether the US dollar will be challenged as the world's main currency. We think not. At their recent summit, BRICS countries, including China, India, and Russia, agreed to strengthen ties and use their national currencies more in trade and financial transactions. Despite that, ING's Chief CIS Economist, Dmitry Dolgin, says there's a limit on what they can ultimately achieve.
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