ASEAN De-Dollarization Surges

This is a U.S. news story, published by CNBC, that relates primarily to The Association of Southeast Asian Nations news.

U.S. news

For more U.S. news, you can click here:

more U.S. news

News about forex trading & speculation

For more forex trading & speculation news, you can click here:

more forex trading & speculation news

CNBC news

For more news from CNBC, you can click here:

more news from CNBC

About the Otherweb

Otherweb, Inc is a public benefit corporation, dedicated to improving the quality of news people consume. We are non-partisan, junk-free, and ad-free. We use artificial intelligence (AI) to remove junk from your news feed, and allow you to select the best business news, entertainment news, world news, and much more. If you like this article about forex trading & speculation, you might also like this article about

monetary shifts

. We are dedicated to bringing you the highest-quality news, junk-free and ad-free, about your favorite topics. Please come every day to read the latest global foreign exchange reserves news, exchange rates news, news about forex trading & speculation, and other high-quality news about any topic that interests you. We are working hard to create the best news aggregator on the web, and to put you in control of your news feed - whether you choose to read the latest news through our website, our news app, or our daily newsletter - all free!

Taiwan dollar

CNBC

•

Business

Business & Economics

Dollar divorce? Asia's shift away from the U.S. dollar is picking up pace

Summary

Nutrition label

90% Informative

Some Asian economies have the greatest potential to repatriate their foreign earnings or assets back to their local currencies.

While the U.S. dollar continues to dominate global foreign exchange reserves, the share of the greenback has declined from more than 70% in 2000 to 57.8% in 2024 .

The Association of Southeast Asian Nations committed to boosting the use of local currencies in trade and investment.

The shift away from the dollar also begs the question of whether this is a temporary phase or a structural shift.

Some countries are reducing their exposure and reliance on the dollar, but it remains challenging to dethrone the greenback's position as the number one reserve currency.

As of April this year , more than half of global trade is still invoiced in dollar terms.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech