At various points in the past when US government debt threatened to explode, there would be talk of de-dollarisation and efforts to find a substitute—all to no avail. However, the dollar's share of global reserves has been volatile, falling from nearly 80% in 1970 to below 58% in 1980 and further to an all-time low of 47% in 1990. It rose to 71% in 1999 before falling again, to about 58–59% in 2020.
With the birth of the euro in 1999, there was a period when it was thought that, perhaps, this could provide a reasonable avenue of diversification for central banks, both from an economic and geopolitical perspective. However, it is clear that the euro is but a shadow of what was expected.
Nonetheless, the effort to find an alternative to dollar hegemony continues, accelerating after the G7, under US direction, sanctioned Russia after it invaded Ukraine, by cutting it off from SWIFT, the global settlement system.
Diese Geschichte stammt aus der December 12, 2024-Ausgabe von Hindustan Times Thane.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der December 12, 2024-Ausgabe von Hindustan Times Thane.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Tiger and Charlie hit five straight birdies, share lead
Tiger Woods and 15-year-old son Charlie ran off five straight birdies on the back nine for a 13-under 59 in the scramble format, giving them a share of the lead in the PNC Championship in Woods' first competition since back surgery in September.
Smriti, Renuka sparkle as India crush WI by 211 runs
The opener's 91 helps pile on the runs in 1st ODI before Renuka's fifer bundles out WI
Big win for Liverpool, Everton hold Chelsea
Liverpool extended their lead at the top of the Premier League with a dominant but chaotic 6-3 win at Tottenham Hotspur on Sunday thanks to doubles from Luis Diaz and Mohamed Salah.
Atletico seal late win at Barca, top La Liga
Atletico Madrid came from behind to snatch a last-gasp 2-1 victory over Barcelona and claim leadership of La Liga on Saturday.
Lenders auction more gold as Reserve Bank steps up scrutiny
Companies lending against gold are auctioning the collateral in higher quantities to recover stressed loans, at a time of rising regulatory scrutiny over the sector.
DAMANI NIXES BAT PICK FOR CHAIR OF VST INDUSTRIES
Top billionaire investor and D-Mart promoter Radhakishan Damani opposed the candidate for chairmanship proposed by British American Tobacco (BAT) for its Indian unit VST Industries Ltd, leading to his rejection at a shareholder vote, according to voting disclosures and an executive privy to the development.
Dozen auto firms set to be excluded from PLI scheme
These automobile companies have not been able to start investing as planned
Apex auto tester looks to accelerate to green lane
India's primary vehicle research and testing body plans to expand facilities that are focused on so-called new energy vehicles, seeking to keep pace with the government's rapidly accelerating green mobility drive.
Pakistan govt forms panel for talks with ex-PM Khan's party
The Shehbaz Sharif-led Pakistan government, on Sunday, formed a negotiation committee to start formal talks with jailed former prime minister Imran Khan's Pakistan Tehreek-e-Insaf (PTI) party after it threatened to give a call for civil disobedience.
Trudeau under fire; liberals eye Freeland
Pressure continues to mount on Canadian Prime Minister Justin Trudeau to quit, even as a movement is afoot within the ruling Liberal Party caucus for him to be replaced by Chrystia Freeland, who was Deputy PM and Finance Minister till her bombshell resignation, on Monday.