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Not always - take oil as the obvious example where transactions are usually done in dollars regardless of the shipping from / shipping to location. If you were

by Closi 3y ago

Not always - take oil as the obvious example where transactions are usually done in dollars regardless of the shipping from / shipping to location. If you were in England and wanted to buy oil in Uganda for use in a subsidiary in Brazil, you would probably use USD regardless of the fact that USD is not the 'standard' currency of any of the parties.

bwb 3y ago
True, but 88% is high, this article doesn't seem to make a good case for why the other trends are worrisome... And Russia going insane is probably a good example, where they are shifting their oil direct to local currency since they have no choice given they started a war.
- Closi 3y ago
  The Russia example there is a genuine example of de-dollarisation though, showing why exports matter.
  - bwb 3y ago
    True but as we need to cut them off, so that seems like a great move over the long term and a little pain now.