Signs of de-dollarisation are unfolding in the global economy, strategists at the biggest U.S. bank JPMorgan said on Monday, although the currency should maintain its long-held dominance for the foreseeable future.
The strains of steep U.S. interest rate rises and sanctions that have frozen Russia out of the global banking system have seen a fresh push by the "BRICS" nations, Brazil, Russia, India, China and South Africa, toJPMorgan strategists Meera Chandan and Octavia Popescu said that while overall dollar usage is within its historical range and the greenback remains at the top of the pack, a closer look shows a more bifurcated picture.
Although that is still by far the largest share of any global currency, it drops further when accounting for gold, which now comprises 15% of reserves versus 11% five years ago. Since then Saudi Arabia and China have begun talks to settle Chinese oil sales with the yuan, Brazil and China have announced the phase-in of a yuan clearing arrangement for some trade between the two countries while China and Russia are also now doing a significant portion of their trade in yuan.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Signs of de-dollarisation emerging, Wall Street giant JPMorgan saysSigns of de-dollarisation are unfolding in the global economy, strategists at the biggest U.S. bank JPMorgan said on Monday, although the currency should maintain its long-held dominance for the foreseeable future.
Lire la suite »
Victims Plead With JPMorgan to Own Up to Epstein’s AbuseEXCLUSIVE: Sex trafficker Jeffrey Epstein's victims are writing to bank honchos as execs face questions about Epstein’s business.
Lire la suite »
JPMorgan, 6 Indian Banks to Settle Dollar Trades on Onyx Blockchain System: Bloomberg.jpmorgan has teamed up with six Indian banks to settle interbank dollar transaction on its blockchain-based trading platform Onyx. By JamieCrawleyCD
Lire la suite »
Bitcoin Retail Demand to Remain Strong Ahead of Halving Event: JPMorgan.jpmorgan says bitcoin retail demand will remain strong ahead of the cryptocurrency’s next halving event, likely due April 2024. willcanny99 reports.
Lire la suite »
Blackstone to prevent catastophe for US office properties: JPMorganJPMorgan's commercial real estate chief lays out how Blackstone will help prevent an office market 'catastrophe'
Lire la suite »
JPMorgan uses blockchain for 24/7 dollar transfers with Indian banksJPMorgan has partnered with six major Indian banks to introduce a blockchain-based platform enabling instant settlement of interbank dollar transactions.
Lire la suite »