The U.S. dollar has been the dominant global currency for nearly a century. But some countries are now looking to diversify away from the greenback. The U.S. dollar is used far beyond America’s borders. Oil is traded in dollars, while some countries peg their currency to dollars. A few smaller countries like El Salvador just use U.S. dollars altogether instead of their own currency.
But there are calls for that to change. Earlier this month, Brazilian President Luiz Inácio Lula da Silva urged developing countries to use the U.S. dollar less and find an alternative. China and Brazil reached a […]
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