Saudi Arabia Exits Petro-Dollar: What You Need to Know!!

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. Helas, that era has come to an end as of June/9/2024!!!

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