The dollar is losing its dominance, and instead

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With the rise in popularity of the Chinese yuan, the end of the dominance of the US dollar is imminent.

Axar.az reports that the head of VTB Bank Andrey Kostin said these words in his statement to "Reuters".

He said that in the current geopolitical situation, many countries are moving towards settlements outside the US currency and the euro, and China is moving towards the elimination of currency restrictions:

"The long historical period of dominance of the US dollar is coming to an end. "China understands that if it keeps its yuan as a non-convertible currency, it will not become the world's number one economic power."

2023.06.10 / 13:30
Kamala Garayeva
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