A 100 yuan banknote (R) is placed next to $100 banknotes in this picture illustration taken in Beijing Nov. 1, 2010.Reuters/Petar Kujundzic De-dollarization fears just don't square with reality, according to one commodities expert. Jeffrey Christian, the founder of CPM Group, pointed to signs that the US dollar was still in high demand. Practically no one is phasing out the dollar for trade or foreign reserves, he said. De-dollarization is a "bad joke," and practically no one is dumping the greenback, according to commodities expert Jeffrey Christian.Christian, a leading commodities analyst and the founder of CPM Group, pointed to rising fear the the US dollar could soon be displaced as the dominant currency in global financial markets.More countries, like Russia, China, and other BRICS states, have expressed interest in shifting away from dollar-based trade.
De-dollarization Is 'a Myth,' And There's No Big Shift Taking Place Away From The Us Currency, Commodities Expert Says
jsor@businessinsider.com (Jennifer Sor), Business Insider
Tue, 05/21/2024 - 8:02am
Topics: beijing nov kujundzic jeffrey practically russia china brics april bank settlements international monetary fund us dollar index bi federal reserve governor chris wallace business insider de-dollarization christian cpm group us international wallace shift place currency commodities expert greenback foreign trade central dollars reality reserves accounted exchange fourth founder decades changing currencies persistent demand pointed quarter world holdings dumping idea economy data economists dominant pointing global joke
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