Region making strides in reducing dependence on US currency
(Photo: Reuters)
Southeast Asia, like much of the rest of the world, is losing patience with King Dollar.
The weaponisation of the world’s reserve currency, for example through sanctions on those deemed to be bad actors — such as Russia for its war in Ukraine — has pushed even typically diplomatic Southeast Asians to warn the United States of the consequences.
In a conference in Singapore on Tuesday, former officials spoke about de-dollarisation efforts under way and what economies in the region should be doing to mitigate the risks of a still-strong dollar that has weakened local currencies and become a tool of economic…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.