Yuan Surpasses U.S. Dollar to Become the Most-used Currency in China’s Cross-border Transactions
The news regarding the U.S. dollar's status as the world's #1 currency continues to be negative, as it was just reported today that the yuan surpassed the U.S. dollar to become the most-used currency in China’s cross-border transactions last month. This follows another report from last week that Russia is completely abandoning the U.S. dollar and Euro from energy exports. China and Russia are not the only countries that are abandoning the U.S. dollar.