Global Shift to Bypass the Dollar Is Gaining Momentum in Asia

De-dollarization 'gains momentum' in Asian markets

The ASEAN+3 bloc of nations approved a landmark financial assistance mechanism this week that ditches the greenback for the yuan and other regional currencies

Global Shift to Bypass the Dollar Is Gaining Momentum in Asia

Banks and brokers are seeing rising demand for currency derivatives that bypass the dollar, as trade tensions add a sense of urgency to a years-long shift away from the greenback.

The ASEAN+3 bloc this week approved a groundbreaking financial assistance mechanism that ditches the dollar for China’s yuan renminbi and other regional currencies. By The Cradle News Desk. Banks and financial brokers are increasingly seeking to bypass the U.S. dollar and are receiving more requests for currencies such as the yuan, Hong Kong dollar, Emirati dirham and euro, according to a report published by Bloomberg on May 9. “Financial instit…

Companies seek strategies that eliminate the role of the US currency as an intermediary

Global shift to bypass the dollar gains momentum

Banks and brokers are seeing rising demand for currency derivatives that bypass the dollar, as trade tensions add a sense of urgency to a years-long shift away from the greenback.