Global Trade Shifts: Dollar Dominance, Local Currencies, and Venezuela's Oil Sales
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Global Trade Shifts: Dollar Dominance, Local Currencies, and Venezuela's Oil Sales

Central banks are decreasing reliance on the US dollar, with emerging economies increasingly using local currencies for trade settlements. Venezuela is reportedly selling oil in renminbi, euros, and roubles. Some analyses suggest a US intervention in Venezuela could aim to re-establish dollar dominance in its oil trade, potentially involving US companies in reviving its infrastructure. Despite these shifts, the dollar's global role is expected to persist due to ongoing trade imbalances.

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