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.
Esta historia es de la edición December 12, 2024 de Hindustan Times Amritsar.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 12, 2024 de Hindustan Times Amritsar.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Oppn skips all-party meeting, stormy session expected
DHARAMSHALA: The Opposition Bharatiya Janata Party (BJP) skipped the all-party meeting called by assembly speaker Kuldeep Singh Pathania, a day before the four-day winter session of the Himachal Legislative Assembly is set to commence in Dharamshala on Tuesday.
Punjab farmers to stop trains at 52 places for 3 hours today
Officials say over 20 trains under Ambala Division to be impacted
'One election' bill tabled in House, may be sent to JPC
NEW DELHI: The Union government on Tuesday introduced in the Lok Sabha two bills aimed at ushering in simultaneous state and national elections amid loud protests by the Opposition taking the first step towards implementing sweeping changes in the way polls are conducted in the world's largest democracy.
10 victims from Punjab
Of the 11 Indian nationals who died of \"carbon monoxide poisoning\" in an Indian restaurant in a mountain resort in Georgia, 10 hailed from Punjab.
BILL TO TEST GOVT'S ABILITY TO MUSTER UP TWO-THIRDS MAJORITY
The NDA government's ambitious plan for simultaneous national and state polls could be a test of its ability to muster the requisite numbers as it doesn't have a two-thirds majority needed to push through a Constitution amendment under Article 368 in the Lok Sabha.
Grit in the tail frustrates the hosts, India avoid follow-on
Like in 2021, there was defiance in the damp air of Gabba as Deep and Bumrah steer India towards a likely draw on Day 4
How the challenge of batting in Oz changed
KOOKABURRA RELEASED A REDESIGNED BALL FOR TESTS IN 2021 THAT WAS SUPPOSED TO MAKE THE GAME MORE EXCITING, BUT IT HAS ONLY MADE BATTING MORE DIFFICULT
KIWIS CRUSH ENG BY 423 RUNS TO SEND RETIRING SOUTHEE OUT ON A HIGH
New Zealand tore through England's batting on Tuesday to crush the visitors by 423 runs in the third Test and send Tim Southee into retirement on a triumphant note.
Jhulan Goswami stand: Another historic moment at Eden Gardens
KOLKATA: At 6.58pm on a misty winter evening near the Eden Gardens change rooms, Jhulan Goswami took the stage. And said she was speechless.
Hayley shines, WI level series with 9-wicket win against India
NEW DELHI: West Indies captain Hayley Matthews led from the front as the visitors levelled the three-match T20I series with a dominant 9-wicket victory over India in the second game at the DY Patil Stadium in Navi Mumbai on Tuesday.
