September 29, 2022

The expert predicted the fall of the dollar in the world

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The American dollar is gradually losing its position as the leading monetary unit. Maxim Shein, Head of Investment Strategies at BCS Mir Investments, came to this conclusion. He shared his predictions in an interview with the Prime agency on Saturday, March 19.

“The inability of the United States to ensure the growth of the world economy, deglobalization and the accelerating disintegration of the world into currency zones are forcing the leading countries to provide investment and their own development on their own,” Shein said.

Today, the analyst emphasized, states are increasingly giving preference to their national currency and reducing the amount of dollar reserves. Meanwhile, yuan, rupees, euros and gold are making their way into the economic favorites. So, Shein mentioned that in 2021 the demand for precious metals increased by 80%.

As for Russia, it is also gradually reducing the share of dollar reserves, diversifying the state budget to attract more different currencies.

On March 18, expert Artem Tuzov announced the inevitable fall of the US dollar. In his opinion, against the backdrop of Washington’s increasing attempts to interfere in the politics of other states through economic pressure, the dollar is not becoming more attractive to international markets.

Two days earlier, Neil Kimberley, an expert on macroeconomics and financial markets, wrote in an article for the Chinese edition of the South China Morning Post that anti-Russian sanctions could push a number of foreign countries to abandon the dollar and the euro as their main reserve currency.

At the same time, Capital Lab partner Evgeny Shatov said that the actions of the US Federal Reserve to raise the interest rate would certainly support the dollar, but due to the structural (non-monetary) nature of inflation, apparently, the world will soon break up into currency zones with agreed boundaries. In the long term, the value of the dollar in the global economy will fall along with its exchange rate.

On the same day, Russian Finance Minister Anton Siluanov said that confidence in the dollar is being undermined every day due to the actions of the US authorities. As a result, Russian companies are increasingly switching to settlements in national currencies.

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