US Dollar's Importance Declining in International Transactions and as Reserve Currency, Economist Says
A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in inter national trade and as a reserve currency has been declining. “Other currencies have been getting more important in inter national transactions and as reserve currencies,” he stressed. Economist Highlights Rising De-Dollarization Trend Canadian economist James Brander shared his thoughts on the worldwide de-dollarization trend and the waning influence of the U.S. dollar last week. Brander is an Asia Pacific professor in the Strategy and Business Economics Division of the University of British Columbia. He explained that the U.S. dollar’s dominance in the global market is declining as a growing number of countries are opting to conduct their inter national transactions using local currencies instead of relying on the USD, Press TV reported. While noting that the U.S. dollar is “the major reserve currency” and “over half of all inter national currency ...
