Greenback Losing its Share in World Market Amid De-Dollarisation Drive – Russian Economy Minister

• Greenback Losing its Share in World Market Amid De-Dollarisation Drive – Russian Economy Minister
  by https://sputniknews.com/
  Several countries have started making arrangements on settlements in national currencies, dumping US Treasury holdings and boosting gold reserves as part of the growing de-dollarisation trend.
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  The US dollar is gradually losing its share in the world market, Russian Economy Minister Maxim Oreshkin told Bloomberg TV on the side-lines of the St. Petersburg International Economic Forum (SPIEF).
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  “China, Turkey and other major partners are increasing their share in euro, as well as Europe. The dollar is gradually and inevitably losing its share in the world market. This concerns not only Russia, but the whole world as well”, he said.
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  In order to reduce its dependence on the US dollar, Russia has taken a series of measures, including dumping its US bond holdings, increasing gold reserves, and switching to transactions in national currencies. In late May, the head of the Central Bank of Russia, Elvira Nabiullina, explained that those measures mitigate external economic and political risks for Moscow.
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