BRICS: US Dollar Is Replaceable? Singapore’s Central Bank Head Reveals
The BRICS alliance is looking to replace the US dollar on the global stage with local currencies. The bloc wants their respective national currencies to thrive and make the greenback sit in the rear seat of the economy. The de-dollarization agenda is gaining steam worldwide as emerging economies are prioritizing local currencies to push their GDP. Also Read: BRICS: Demand For US Dollar Grows in Oil Payments, Local Currency Dips The greenback is at risk of losing its global dominance as many countries are considering ending reliance on the currency. However, Singapore’s Central Bank head Chia Der Juin, touched on the BRICS subject of de-dollarization and explained whether the US dollar can be replaced in the financial sector. Also Read: BRICS: Standard Chartered, Deutsche Bank Predict US Dollar’s Future BRICS: Singapore Central Bank Head Reveals If the US Dollar Can Be Replaced Source: ssfa.org The Singapore Central Bank’s head revealed that the US dollar is irreplaceable and...