Which Southeast Asian countries are considering de-dollarization?

A group of Southeast Asian countries in the region, such as Singapore, Malaysia, Indonesia, Cambodia, and Thailand, are currently contemplating the process of de-dollarization in order to diminish their dependence on the US dollar within their economies.

Which countries use local currencies?

China, Russia, Brazil, India, ASEAN nations, Kenya, Saudi Arabia, and the UAE are now using local currencies in trade. (Se puede leer esta nota en español aquí .) The global de-dollarization campaign is gaining momentum, as countries around the world seek alternatives to the hegemony of the US dollar.

Which countries use US currency?

According to American Institute for Economic Research, the US dollar is the de facto currency of East Timor, Ecuador, El Salvador, the Federated States of Micronesia, the Marshall Islands, Palau, Panama and Zimbabwe. As many as 22 foreign central banks and currency boards have pegged their currency to it.

Is the world weaning itself off the dollar?

ORLANDO, Florida, April 26 (Reuters) - For all the hullabaloo about the world weaning itself off the U.S. dollar, hard numbers show that both central banks and private sector institutions continue to increase their holdings of dollar-denominated bonds.