For a very long time, the US dollar has dominated international markets. It still does so, although, during the past 20 years, the US economy has produced a decreasing percentage of the world's production. The latest International Monetary Fund's (IMF) data shows a decline in the dollar's share in global central banks' foreign currency reserves. The data shows the dollar's share is down in the September quarter to the lowest since the final three months of last year.

Dollar reserves fall to lowest in a year

As we head into 2024, the dynamics of geopolitics are at the core of global markets. So far, America has imposed sanctions against countries to cut them off from the global payment systems and dollars.

Is the dollar's status as a global reserve currency at risk?

In a move to curb US dollar hoarding and counter an anticipated devaluation, Argentina's central bank has imposed restrictions on the foreign currency holdings of commercial lenders, Bloomberg reported.

Argentina imposes limits on banks’ dollar holdings amid concerns over devaluation 

In the intricate world of global oil trade, a profound transformation is unfolding, challenging the longstanding dominance of the U.S. dollar. Recent geopolitical tensions surrounding the Ukraine conflict have intensified this shift, leading to a clash between Russia and India over oil payments.

Oil's new currency landscape: Russia's struggle beyond the dollar

China's major state-owned banks have actively participated in the currency market, buying the yuan and accelerating its rebound against a weakening US dollar, according to undisclosed sources cited by Reuters on Tuesday.

China's state banks drive yuan rally amidst dollar weakness: Report

Oil prices experienced a substantial drop of more than 4 per cent on Tuesday, hitting their lowest point since late July. The decline in prices was attributed to a combination of factors, including mixed Chinese economic data, an increase in OPEC exports, and the strengthening of the U.

Oil prices tumble over 4pc to its lowest level since July. Here's why

Global stock indices jumped dramatically, and the US dollar plummeted to a six-week low.

Global markets roundup | Wall Street has the best week in 2023

One euro has been worth $1 for less than a year and speculation of the single currency returning to that level is once again infiltrating market conversation. Analysts have lowered their expectations to a little under $1 in the previous two weeks. Google searches for the term parity have also increased.

Google searches spike for 'parity' as Euro-Dollar debate heats up

India's rupee has come a long way in its journey since 1947. Now, the currency aims to go global, with several countries already interested in trading in the Indian rupee. No journey of the Indian rupee can be complete without exploring its relationship with the u.S. Dollar - the world's reserve currency. Our report takes a deep dive into the rupee's fascinating roller coaster ride.

Tracking Rupee's journey since 1947

Asia's stock market fell as Treasury yields and the US dollar increased, suggesting that investors have not yet completely adjusted their expectations for interest rates. Japan, Australia, and China's equity indexes all saw declines, while the Kospi Index reached a six-month low due to a drop in South Korean stocks.

Asia stocks fall as treasury yields, dollar higher

On Thursday, the Beijing-controlled onshore yuan plunged to its lowest level against the dollar since 2007 as concerns over an impending economic slowdown were rekindled by falling Chinese exports.

Onshore yuan hits 2007 dollar low amid China slowdown fears: Report

Due to an increase in crude oil prices and a stronger US dollar, the rupee saw its highest monthly depreciation on Tuesday. According to Bloomberg statistics, the rupee decreased by 29 paise to close at Rs 83.

Rupee experiences its highest monthly depreciation as US dollar strengthens, oil prices rise

The Pakistani rupee reached a record-low closing value of 300.2 against the US dollar, breaking through the psychological barrier of 300 on Thursday. Data from the central bank indicated that this unwanted milestone was reached amid less curbs on outflows.

Pakistani rupee falls to an all-time low of 300.2 against the US dollar

The dominance of the US dollar in international payments has reached an unexpected milestone despite deliberate measures to weaken it.

US dollar's dominance resilient as global payments peak

Signs that China is becoming more forceful in supporting its markets provided some relief for developing-nation assets battered by concerns over the world’s second-largest economy.

China’s firmer stance on Yuan sparks relief in emerging markets

India and UAE are taking de-dollarisation seriously. India's central bank RBI is nudging local banks. To settle trade between the UAE and India using either the dirham or the Indian rupee.

De-dollarisation: RBI urges lenders to use Rupee or Dirham in trade with the UAE

South Asia's local currencies have had a roller coaster ride for the last couple of years. This story gives a report about the Indian rupee, Pakistani rupee, Sri Lankan rupee and Bangladeshi taka.

South Asia's currency rollercoaster: Pakistan's rupee in freefall

For the very first time since the 2008 financial crisis, global household wealth plunged as the interest rates ascended and inflation remained tenaciously elevated.

Over 3.5 million people lost 'dollar millionaire' status last year: Report

In a bid to halt the rapid depreciation of its ruble currency against the dollar, Russia’s central bank jacked up the interest rates by 350 basis points to 12 per cent at an emergency meeting on Tuesday (Aug 15).

Russia raises interest rate to 12% as sliding ruble bites hard

In an effort to support the ruble as it fell toward 100 per dollar, its weakest level in 16 months, the Bank of Russia stated it will stop buying foreign currency on the domestic market for the remainder of 2023. The central bank stated in a statement released late on Wednesday that "the decision was made in order to reduce the volatility of financial markets."

Trade decline hit Ruble's value; Ruble near the 100 per dollar mark

Asia-pacific markets are surging ahead of anticipated business activity data and inflation reports from various countries in the region.

Bolivia joins de-dollarisation bandwagon

In addition to this, Sri Lankan President Vikram Singh made a statement hinting at settling Sri Lanka's trade in the Indian rupee as well. The million-dollar question that now arises is whether the Indian rupee is growing stronger and is it a direct challenge to the US Dollar's hegemony. India has signed an agreement with the United Arab Emirates that will allow it to settle trade in rupees instead of dollars.

The growing footprint of Indian rupee | In-Depth Analysis

In June, hiring in the United States slowed down. As per a US Labour Department statement released on Friday, this signals a cooling of the American economy before an upcoming interest rate decision.

US hiring falls short of expectations in June, signalling cooling economy ahead of Fed decision

Kenyan firms are facing a dollar shortage, hindering their expansion capacity and impacting revenues.

Kenyan firms struggle with dollar shortage

dollar

Dollar, News on Dollar, stories on Dollar, articles on Dollar, Dollar stories at Wion, Dollar news, Dollar latest news