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/leftypol/ - Leftist Politically Incorrect

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 No.970099

Can someone give me examples of dedollarisation in action? I understand its in its infancy but I want some concrete examples.
From what I understand:
1) saudi arabia did something with yuan and fucked the dollar
2) russia and china something something
3) russia and india both directly trade together now in rupees and rubles
Any articulations of these examples out there?

 No.972720

>>970099
>saudi arabia did something with yuan and fucked the dollar
The Saudis are still in the "considering" stage of accepting RMB payments for oil afaik. Nothing has been confirmed yet, but it would mean that other countries could start keeping reserves of RMB as well.
>China and India
Are buying discounted oil and gas from Russia, nothing much else to say

 No.972734

Examples of what? Countries stop using the dollar that's it

 No.972778

File: 1652677563130.png (378.77 KB, 576x1024, ClipboardImage.png)

We'll have a better view of the impact the war has had on the dollar as a reserve currency when the IMF updates their COFER data.
https://data.imf.org/?sk=E6A5F467-C14B-4AA8-9F6D-5A09EC4E62A4
There's this from a year ago though, showing it has been in steady decline which can only be accelerated by the abuse of the money printer and seizure of assets:
https://blogs.imf.org/2021/05/05/us-dollar-share-of-global-foreign-exchange-reserves-drops-to-25-year-low/
>The share of US dollar reserves held by central banks fell to 59 percent—its lowest level in 25 years—during the fourth quarter of 2020, according to the IMF’s Currency Composition of Official Foreign Exchange Reserves (COFER) survey. Some analysts say this partly reflects the declining role of the US dollar in the global economy, in the face of competition from other currencies used by central banks for international transactions. If the shifts in central bank reserves are large enough, they can affect currency and bond markets.
>Our Chart of the Week looks at the recent data release from a longer-term perspective. It shows that the share of US dollar assets in central bank reserves dropped by 12 percentage points—from 71 to 59 percent—since the euro was launched in 1999 (top panel), although with notable fluctuations in between (blue line). Meanwhile, the share of the euro has fluctuated around 20 percent, while the share of other currencies including the Australian dollar, Canadian dollar, and Chinese renminbi climbed to 9 percent in the fourth quarter (green line).


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