PrøvGOLD- Free

Could Trump as president accelerate de-dollarisation?
Hindustan Times Navi Mumbai|December 12, 2024
De-dollarisation, or the ongoing efforts by many (if not most) countries to reduce dependence on the United States (US) dollar, is not a new phenomenon.
- Jamal Mecklai
Could Trump as president accelerate de-dollarisation?

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 Navi Mumbai.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra December 12, 2024-utgaven av Hindustan Times Navi Mumbai.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA HINDUSTAN TIMES NAVI MUMBAISe alt
Now, becoming the best player in the world is what I care about most
Hindustan Times Navi Mumbai

Now, becoming the best player in the world is what I care about most

BENGALURU: What must it be like to fulfil your life's greatest dream at 18? It's been less than a week since Gukesh D became world champion, beating China's Ding Liren, and the Indian teen is still wrapping his head around this delightful predicament. In an interview to HT, Gukesh opened up about challenges, uncertainties and fresh goals, among other things.

time-read
3 mins  |
December 19, 2024
78-yr-old man critical after being hit by bike
Hindustan Times Navi Mumbai

78-yr-old man critical after being hit by bike

The Vile Parle police have apprehended a biker for knocking down a senior citizen in Andheri East.

time-read
1 min  |
December 19, 2024
Hindustan Times Navi Mumbai

Oppn mounts attack on BJP, calls for action over remarks

Members of the INDIA bloc on Wednesday set aside differences to come together and attack the Bharatiya Janata Party (BJP) over Union home minister Amit Shah's comment referring to Dr BR Ambedkar, jamming Parliament and holding protests.

time-read
1 min  |
December 19, 2024
13 dead as Navy boat crashes into ferry
Hindustan Times Navi Mumbai

13 dead as Navy boat crashes into ferry

Thirteen people, including an officer of the Indian Navy and two contractual naval employees, were killed when a Naval speedboat which was carrying out engine trials dashed against a passenger ferry, Neel Kamal, carrying over 100 passengers from the Gateway of India to Elephanta Island, on Wednesday afternoon.

time-read
1 min  |
December 19, 2024
Hindustan Times Navi Mumbai

Govt to move motion to form JPC for One Nation, One Election bills

The Union government will formally move a motion in the Lok Sabha on Thursday to constitute a joint parliamentary committee (JPC) on two bills that aim to usher in simultaneous national and state elections, and propose the names of 21 MPs of the Lower House as members.

time-read
1 min  |
December 19, 2024
Hindustan Times Navi Mumbai

Caught Rahane, bowled Ashwin

Given a choice, R Ashwin would have liked to have Ajinkya Rahane permanently at slips for his bowling, such was their combination.

time-read
2 mins  |
December 19, 2024
Hindustan Times Navi Mumbai

JADHAV BEATS KUSALE TO WIN 50M RIFLE 3P TITLE

Indian Navy's Kiran Ankush Jadhav beat Paris Olympic bronze medallist Swapnil Kusale and another Olympian Aishwary Pratap Singh Tomar to clinch gold in 50m rifle 3 positions (3P) at the National Shooting Championship on Wednesday.

time-read
1 min  |
December 19, 2024
Hindustan Times Navi Mumbai

Unbreakable Santosh back to rallying with an eye on Dakar

Astride a rally spec of Royal Enfield Himalayan 450, CS Santosh was riding through the dirt on the banks of the Egidillo river in Spain when memories of him flying through the dunes at the Dakar Rally flashed across his mind. \"It felt the same like when I did the Dakar for the very first time. I loved it then and I love it now,\" says the 41-year-old.

time-read
3 mins  |
December 19, 2024
Hindustan Times Navi Mumbai

Trump threatens to impose reciprocal tax on India

US President-elect Donald Trump has said that India charges \"a lot\" of tariff, reiterating his intention to impose reciprocal tariffs in retaliation for what New Delhi will impose on the import of certain American products.

time-read
2 mins  |
December 19, 2024
Hindustan Times Navi Mumbai

INDIA'S RECORD GOLD IMPORT WAS DUE TO AN ERROR IN CALCULATION

A surge in gold imports that widened India's trade deficit to a record last month and pushed the rupee to an all-time low was due to an error in calculation, according to people with knowledge of the matter.

time-read
1 min  |
December 19, 2024

Vi bruker informasjonskapsler for å tilby og forbedre tjenestene våre. Ved å bruke nettstedet vårt samtykker du til informasjonskapsler. Finn ut mer