Recent de-dollarisation efforts and the role of USD
Since World War II, the US dollar (USD) has been the most widely used currency for international commerce and as a principal store of value for central banks. Recently, the USD’s hegemonic status in the international monetary system (IMS) has waned to some extent, owing to a confluence of factors. H...
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| Format: | Commentary |
| Language: | English |
| Published: |
2023
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| Online Access: | https://hdl.handle.net/10356/168747 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | Since World War II, the US dollar (USD) has been the most widely used currency for international commerce and as a principal store of value for central banks. Recently, the USD’s hegemonic status in the international monetary system (IMS) has waned to some extent, owing to a confluence of factors. However, the US remains the largest economy in the world with the most developed financial markets and a judicial system that upholds the rule of law, making the USD indispensable in the IMS for the foreseeable future. |
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