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According to the Atlantic Council, the global reserves count of the U.S. dollar has fallen 59 percent in 2024, while reserves of the currency stood at 72 percent in 2002, declining steadily in the last two decades.
By PA/TPN, in North America, World, Economy · 24 Aug 2024, 15:31 · 0 Comments
In 22 years, the USD has declined 13 percent in the markets as developing countries are distancing the currency from their reserves.
BRICS is promoting the usage of local currencies for cross-border transactions adding pressure on the US dollar, while China's local currency, the yuan, rose 3 percent in the same period.
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