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Top related persons:
Jeffrey Christian - 2 — - 2 Christian - 2 it's - 2 It's - 1 Chris Wallace - 1 Wallace - 1
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Service - 2 CPM Group - 1 Traders - 1 Bank of International - 1 International Monetary Fund - 1 UC - 1 Berkeley - 1 CPM - 1

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2 mentions found


☆ De-dollarization is a fad that will backfire on countries trying to move away from the greenback, currency expert says
  + stars: | 2024-07-28 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +6 min
De-dollarization is nothing but a myth — and it could backfire on countries like Russia and China. That's according to Jeffrey Christian, a commodities expert who thinks dollar dominance isn't going away anytime soon. He says countries phasing out the greenback also could face consequences, like liquidity issues and slow growth. AdvertisementDe-dollarization is probably a fad — and countries trying to stage a global shift away from the dollar may soon find that the movement will backfire. Despite the ongoing movement, dollar dominance isn't probably going away, given how pervasive the greenback is in financial markets, he told Business Insider in an interview.
Persons: Jeffrey Christian, —, Christian, It's, it's Organizations: Service, CPM Group, Traders, Reuters, Bank of International, International Monetary Fund, UC, Berkeley Locations: Russia, China, India
☆ De-dollarization is 'a myth,' and there's no big shift taking place away from the US currency, commodities expert says
  + stars: | 2024-05-21 | by ( Jennifer Sor | ) www.businessinsider.com   time to read: +4 min
Practically no one is phasing out the dollar for trade or foreign reserves, he said. No one is dumping dollars," Christian said of de-dollarization in a recent presentation. Its closest competitor, the euro, accounted for just 19% of all central bank reserves in 2022, down from around 29% several decades ago. Advertisement"There has been a diversification of central bank foreign exchange holdings, but it's not at the expense of the dollar, and it's not away from the dollar," Christian said. "Clearly people are buying dollars in a much greater volume than they are selling dollars," Christian said.
Persons: Jeffrey Christian, —, Christian, it's, Chris Wallace, Wallace Organizations: CPM, Service, Bank of International Settlements, Monetary Fund, Federal Locations: Russia, China
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