"Forex" Blogs & Blog Posts

Iraq will ban the greenback from being used in cash transactions and withdrawals from January 1, the outlet reported.

Traders' belief that the central bank will have to hold rates at a higher level for longer has powered the buck to 10 straight weeks of gains.

The Johns Hopkins professor echoed the views of Argentina's presidential candidate Javier Milei – who has also called for adopting the greenback as the country's local currency.

"The recent decline and volatility in the Chinese Yuan, the Russian Ruble, and to a lesser extent the Argentine Peso, will only add further challenges to the idea of de-dollarization," an analyst told Insider.

Russia's currency and inflation woes are captured by something economists don't usually focus on: sushi. Local prices of the Japanese delicacy could surge 30% due to the ruble's plunge and Russia's rift with the West.

"If tinpot dictators want to wage war, get sanctioned and then need alternate payment means, that's signals Dollar dominance, not weakness..." Robin Brooks said.

India's foreign minister S. Jaishankar pushed back on the idea that the BRICS group of countries are working on an alternative currency.