Dollar dominance in global setting still not going away any time soon ...Middle East

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If you're still doubting the dollar's importance in every day use, you probably have to wait another year before people start entertaining that argument. The latest numbers from SWIFT this week shows that global payments are still very much all being done with the greenback and this snapshot is quite compelling evidence of that:The standout points in the snapshot above is that the euro's share of global SWIFT payments have dropped to a new low while the Chinese yuan's share has improved to even surpass the Japanese yen - the first since January 2022. That makes it the fourth most used global currency behind the pound, euro, and dollar.The yuan's share improved to 4.6% in November and that is

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Last updated : 21 Dec 2023 clock 01:45 PM

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