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.
Denne historien er fra December 12, 2024-utgaven av Hindustan Times Jaipur.
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Denne historien er fra December 12, 2024-utgaven av Hindustan Times Jaipur.
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Shah slams Cong in Constitution debate
Asserting that India's democracy is deep-rooted, Union home minister Amit Shah said on Tuesday that the people of the country through the Constitution have given an appropriate response to those who used to say that India will not become powerful economically.
'One election' bill tabled in LS, to be sent to JPC
NEW DELHI: The Constitution (One Hundred and Twenty-Ninth Amendment) Bill, 2024, and ‘The Union Territories Laws (Amendment) Bill, 2024’ was formally introduced in the Lok Sabha after a division of votes.
When Chay flew to Mumbai
Following their wedding on December 4, actor-couple Naga Chaitanya and Sobhita Dhulipala have opened up about their relationship for the first time.
Zakir Hussain matlab tabla: Pandit Hariprasad Chaurasia on Ustad's death
Pandit Hariprasad Chaurasia, the legendary classical flautist and music director, is unable to believe that Ustad Zakir Hussain has passed away at \"such a young age\", he tells HT City.
Chelsea's Mudryk fails drugs test: Premier League club
LONDON: Chelsea forward Mykhailo Mudryk has failed a doping test, the Premier League club said on Tuesday, as reports stated the Ukraine international has been provisionally suspended.
New Zealand crush England to send Southee out on high
HAMILTON: New Zealand tore through England's batting Tuesday to crush the visitors by 423 runs in the third Test and send Tim Southee into retirement on a triumphant note.
Rahul, Jadeja, tailenders help India avoid follow-on at Gabba
BRISBANE: KL Rahul and Ravindra Jadeja were determination personified as their fighting fifties helped India avoid the follow-on on the fourth day of the weather-hit third Test against a menacing Australia that seems meandering towards a draw.
INJURED JOSH HAZLEWOOD TO MISS REST OF INDIA SERIES
Australia pace spearhead Josh Hazlewood is likely to miss the rest of the Test series against India after injuring his right calf during his warm-up before play in Brisbane on Tuesday.
Jaitley beats Azad to be re-elected as DDCA president
NEW DELHI: Incumbent Rohan Jaitley comfortably defeated former India cricketer and Lok Sabha MP Kirti Azad to be elected as the President of the Delhi and Districts Cricket Association (DDCA) for a third successive term.
Security concerns hinder AI adoption in India: Report
NEW DELHI: As many as 92% of Indian executives view security vulnerabilities as the foremost challenge to responsible artificial intelligence (AI) adoption, highlighting a pressing need for robust governance frameworks to foster trust and mitigate risks in an increasingly AI-driven landscape, according to a recent report by Deloitte.
