Russia-China “DE dollarization” Reaches “Breakthrough Moment” As Countries Ditch Greenback For Bilateral Trade

Late last year, data released by the PBOC and the Russian Central Bank shone a light on a disturbing – at least, for the US – trend: As the Trump Administration ratcheted up sanctions pressure on Russia and China, both countries and their central banks have substantially “diversified” their foreign-currency reserves, dumping dollars and buying…

Read More