Dollar Firmly Entrenched as the Global Reserve Currency: Report

Published on June 25, 2024

The Chinese regime’s yuan-push for de-dollarization, efforts by the BRICS bloc to create a new reserve currency, and the euro’s growing influence are still not enough to unseat the U.S. dollar as the world’s dominant reserve currency, a new study released Tuesday revealed. BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, and recently added members Egypt, Ethiopia, Iran, and the United Arab Emirates (and invitee Saudi Arabia). According to the Atlantic Council’s latest “Dollar Dominance Monitor,” the dollar continues to dominate global foreign reserve holdings, trade invoicing, and currency transactions, while its role as the primary global reserve currency remains entrenched in the near and medium term....

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