Dollar losing reserve status at ‘stunning’ pace – Eurizon CEO ...News

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Dollar losing reserve status at ‘stunning’ pace – Eurizon CEO
source : Russia Today ( News ) () 43
The sanctions on Russia are a driving force behind the ongoing de-dollarization, Stephen Jen has said Western sanctions against Russia have accelerated the move away from the US dollar worldwide, Stephen Jen, the CEO of London-based asset management company Eurizon, warned on Tuesday. The dollar’s share in global reserves fell ten times faster last year than over the past two decades, Jen said, as cited by Bloomberg. The process began as some countries started to look for alternatives after seeing Russia’s assets frozen abroad and the country cut off from the global financial messaging system known as SWIFT, accor

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