Indonesia's Currency Change: Farewell to Dollars

The Geopolitics In Conflict Show

As the de-dollarization drive continues to gather momentum, more countries are joining the movement. And now, Indonesia has become the latest nation to take a step towards reducing the dominance of the US dollar in global trade and investments.
In a recent press release, Governor of Bank Indonesia, Perry Warjiyo, announced that the island nation has formed a National Task Force to expand the use of local currency transactions with its partner countries. This move aims to strengthen policy synergy between government ministries and agencies, ultimately increasing the utilization of local currencies in bilateral transactions.
Indonesia's decision to join the de-dollarization campaign highlights a trend that is spreading wider around the world. More and more countries are realizing the importance of reducing their reliance on the US dollar, seeking to diversify their international trade and investment flows.
This rising tide of de-dollarization signifies a shift in the global economic landscape. Major trading partners of Indonesia will now have the opportunity to conduct transactions using local currencies, fostering closer economic ties and reducing foreign exchange risks.
By encouraging the use of local currencies in international transactions, Indonesia aims to decrease its vulnerability to external shocks and fluctuations in the US dollar. It is a step towards greater economic independence and stability.
As Indonesia joins the de-dollarization movement, it becomes an integral part of a global push towards multipolar currency systems. This demonstrates the growing dissatisfaction with the dollar's dominance and the desire for a more balanced and inclusive international monetary system.
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About David:
Dr. Oualaalou served a fifteen-year career in the United States Armed Forces in support of the US government’s security agencies in Washington DC and around the world. His primary roles include security policy, intelligence analysis, security operations advice including leadership and managerial operations. He advised high-profile U.S. military and civilian officials on security issues, economic trends, and foreign military threat information. He has written many articles and books including his latest, The Dynamics of Russia’s Geopolitics: Remaking the Global Order.
About Elizabeth:
Elizabeth graduated with a degree in Global Business. She visited corporations in China, India and South Korea among others. Elizabeth is a successful entrepreneur and business consultant. She has visited many countries on four continents including: Asia, North America, South America and Europe. She speaks different languages, her passion is exploring ancient cultures.
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