Saudi Arabia Exits Petro-Dollar: What You Need to Know!!
15 days ago
3
It’s no secret that the role of the dollar is fading in the background and no longer in the center of the global financial system as Saudi Arabia officially ditched the Petro-Dollar in favor of the Petro-Yuan.
One thing is sure: Saudis decision to ditch the US dollar crates a fundamental shift to the global financial system, given how the dollar-denomination of OPEC oil transactions plays a huge role in unifying global markets around a common currency.
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