Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

De-dollarization does not work: the share of USD in payments has increased to 49%


October, 29 2024
watermark Economic news

The US dollar has strengthened its leadership in global finance, reaching a 49% share in international payments — the highest in the last 12 years after growing by 9% in two years.


According to SWIFT, the position of the euro, which previously successfully competed with the dollar, has significantly weakened: its share has decreased from 39% to 21%, which was the lowest level in a decade. This strengthens the dollar as the main currency of world settlements.


Meanwhile, the Chinese yuan also showed growth, increasing its share from about 2% last year to 5%. Although international transactions also use systems outside SWIFT, including SEPA for European payments, SWIFT remains a key transfer platform and covers more than 200 countries.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.