The US dollar’s global supremacy is reportedly eroding at an exponential rate, with countries backing away after witnessing how America used USD to impose sanctions against Russia.
In a new Bloomberg report, Stephen Jen and Joana Freire of asset management firm Eurizon SLJ Capital reveal that in 2022, the US dollar’s market share in global reserves plunged 10 times its average speed of the past 20 years.
Considering the fluctuations in exchange rates, the dollar lost about 11% of its market share since 2016 and twice that amount since 2008...more
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