Throughout history, international monetary systems have evolved every few decades, from the gold standard to the Bretton Woods system and eventually to the current free-floating system with the US dollar as the dominant currency. Although rumors of a new gold-backed currency emerged at a recent BRICS summit, the dominant position of the US dollar remains largely unchallenged. Time will tell whether a gradual shift away from the dollar will happen in the more distant future owing to potential changes in payment preferences and digital currencies.
Click here to access the full article directly
Also make sure to follow us on: