The US dollar has recently been losing value against other currencies, dropping nearly 5% in July, its biggest monthly fall in more than 10 years. This decline is prompting economists worldwide to re-assess the role of the dollar as a global reserve currency, as some countries have resorted to other options in their bilateral transactions. The US dollar’s share of trade between Russia and China fell to a record low of 46% in the first quarter of 2020, according to recent figures provided by Russia’s Central Bank and Federal Customs Service. This data prompted experts to suggest that the two trading […]
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