ICYMI: Saudi Arabia’s petrodollar agreement with the US has expired
Signaling a major shift in the global financial landscape, MBS announced that Saudi Arabia will not renew the 75-year-old agreement that helped preserve the US dollar’s dominance in international trade.
The move will allow Riyadh to sell oil in multiple currencies including the yuan, euros, yen, etc, instead of exclusively in dollars.
It could signal an end to Washington’s global financial dominance and raises the question of what the US is famous for exporting that the world is buying.
#Petrodollar #Trade #MBS
@RTnews_unc3
Signaling a major shift in the global financial landscape, MBS announced that Saudi Arabia will not renew the 75-year-old agreement that helped preserve the US dollar’s dominance in international trade.
The move will allow Riyadh to sell oil in multiple currencies including the yuan, euros, yen, etc, instead of exclusively in dollars.
It could signal an end to Washington’s global financial dominance and raises the question of what the US is famous for exporting that the world is buying.
#Petrodollar #Trade #MBS
@RTnews_unc3
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💉 Dollar suffers RECORD LOSSES IN 20 YEARS amid Trump's new tariffs
The key Bloomberg #Dollar Spot Index (BBDXY), which tracks the performance of a basket of 10 global currencies against the US dollar, tumbled as much as 2.1% earlier this week, Bloomberg News reports.
This became BBDXY’s sharpest intraday decline since its launch in 2005.
Almost all 10 currencies tracked by Bloomberg strengthened against the dollar, and the #euro rallied as much as 2.7%.
The #greenback’s dive comes against the backdrop of President #Trump’s recently announced new trade tariffs, which experts warned could “drive investors away from the #US and cause the dollar to [further] depreciate.”
txt source @geopolitics_live
#FiatCurrency #PetroDollar #TradeWar #UStariffs
The key Bloomberg #Dollar Spot Index (BBDXY), which tracks the performance of a basket of 10 global currencies against the US dollar, tumbled as much as 2.1% earlier this week, Bloomberg News reports.
This became BBDXY’s sharpest intraday decline since its launch in 2005.
Almost all 10 currencies tracked by Bloomberg strengthened against the dollar, and the #euro rallied as much as 2.7%.
The #greenback’s dive comes against the backdrop of President #Trump’s recently announced new trade tariffs, which experts warned could “drive investors away from the #US and cause the dollar to [further] depreciate.”
txt source @geopolitics_live
#FiatCurrency #PetroDollar #TradeWar #UStariffs