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  • Writer's pictureIshfaaq Peerally

The End of the US Dollar?

With high inflation and the war in Ukraine, many people are suggesting that the US Dollar might lose its status as the reserve currency of the world. I'm not a macroinvestor and I'm not going to base my investments based on that but it is still an interesting subject to talk about.

Inflation is high and the actions of the Federal Reserve System might not be enough to bring it down. However, the US Dollar is used worldwide and inflation is worldwide so for many people, the US Dollar is still a better alternative than their local currency. The demand for US Dollars will always be here. That's why it is the reserve currency of the world. The Euro is in second place but no other currencies come close. Can Bitcoin $BTC replace the Dollar? No. It is too volatile to be a currency.

The Chinese Yuan is a good candidate to replace the Dollar and this war might accelerate things. But I'm not sure that a Russian/Chinese (or even including India) can be sustainable long-term. Investors are more afraid to invest in these developing countries now considering the war in Ukraine. Besides China is more dependent on the West than Russia. While the Chinese Yuan may play a more important role in the world in the coming decades, it is nowhere near replacing the US Dollar.

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