angrysaveruk
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Post by angrysaveruk on Mar 28, 2023 18:54:42 GMT
Given the surprising speed of De-Dollarization around the world does anyone have any opinions on what will happen with interest rates? I think the obvious call is the US are going to put their interest rate up rapidly as the US elite try to protect their dollar based wealth and the US government try to protect the dollar exchange rate - this will obviously have a knock on effect to the UK.
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ptr120
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Post by ptr120 on Mar 29, 2023 7:31:06 GMT
I'm not seeing a rapid de-dollarization.
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angrysaveruk
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Post by angrysaveruk on Mar 29, 2023 10:14:37 GMT
I'm not seeing a rapid de-dollarization.
Russia, China, various african countries, saudi - in my opinion we are seeing the end of the petro dollar.
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ilmoro
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Post by ilmoro on Mar 29, 2023 11:17:09 GMT
I'm not seeing a rapid de-dollarization. Dropped from 70%+ of bank reserves to 59% last year, so is definitely happening. Hardly surprising given amount of trade China does. Saudis looking to sell oil in yuan/renimbi, Egyptians issuing debt in yuan to access Chinese finance markets. India big push on rupee.
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ptr120
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Post by ptr120 on Mar 29, 2023 12:41:32 GMT
I'm not seeing a rapid de-dollarization. Dropped from 70%+ of bank reserves to 59% last year, so is definitely happening. Hardly surprising given amount of trade China does. Saudis looking to sell oil in yuan/renimbi, Egyptians issuing debt in yuan to access Chinese finance markets. India big push on rupee. I'd be interested to know over what timespan (this thread is about a rapid process), and if the fall is due to de-dollarization, or an increase in overall reserves, or the proportion in non US$ holdings. Everything I buy from China is still priced un US$. It is still the most widely used flat currency outside if its home country by some considerable margin.
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