The dollar and other currencies at a glance

[sunsilk]

This is also the reason why China is increasing its major allies so that its CNY is being used as their reserve currency and also for major transactions done on their trades.

China plays too much with their currency, that is the biggest point adverse to gain public trust.
It is also the biggest issue what DT wishes to do with their currency 

And they are not stopping anytime soon. I guess that's the reason why US feels that they're threatened with what China is doing.

Not only with its flex of its military but mostly with how it does with other nations of doing the Chinese debt trap.

So, they're requiring them to be part of their ally and they'll also get the help that they need. It's a tactic that US does but hates it when other competing nations does it.

[GiftedMAN]

Many countries use dollar for transaction instead of their local currencies when buying goods from another country, thus further strengthens the dollar. During crisis, people run to buy dollar as safe assets instead of employing other options, they have confident in it than any other alternative, while investors prefer to invest mostly in US financial markets like their stocks.

US is a wise country they always take any little opportunity they have to turn it to their own advantage that's why you will never find them going into deals that will make their currency to depreciate no matter what and they have placed so much value on it to the point of making every business person to see the dollar as the best option when they think of having reservations to save their money. International the dollar stands as the currency for trading even in the stock market you hardly see the dollar losing value so tell me why investors won't always make it a currency of concern when it is acceptable by all in all transactions round the globe.

[STT]

In recession Dollar value tends to go up and that's a really useful attribute for those close to dollar issuance.   I think we're stating the current bias and most acknowledge king dollar is the status quo for some time now.   However, the value by which dollar is measured is other currencies, Euro is the largest component then yen even sterling and many other minor players still count as value exchangeable and indicating strength and worth to the dollar currently.
   If none of those alternate currencies had worth neither would the dollar in its exchange, its purpose is to be swapped and used as unit of value.  The dollar system is too biased and it impedes world trade with that bias towards dollar and its allies, the further away you are the more you suffer from inflation secondary effects.

[eaLiTy]

~
You mean a currency that nobody can actually trade outside Russia?  
But yeah, 3 day after the 3 day operation ends, you will see a huge spike in the value of the rubble, any moment now, any moment.

There is a slight difference of opinion. There are bilateral trade hubs, and Russian Rubles are traded outside Russia. In fact, India and Russia trade solely using local currencies, and the same goes for China and several African countries.

There are two things:
- propaganda, in which the world trades in shitcoins
- reality, where everyone wants dollars:

As I mentioned above, I am not questioning the dominance of the dollar. India is purchasing oil using Chinese Yuan and UAE Dirham, while Indian Rupee is used for non oil trades with Russia. It is a well known fact that India has been purchasing billions of dollars worth of oil at a discounted price from Russia and selling it to European countries. All of these trades are being conducted outside the US dollar ecosystem.

I agree to the fact that UAE Dirham is pegged to the US dollar but operates separately from the US financial system. I am also aware that US can put pressure on the UAE banking sector to stop specific transactions and since they rely heavily on the dollar, they have actively frozen Russian trading accounts and hence the Russian traders are prioritizing the Chinese Yuan to settle payments safely.

They are ditching the dollar by using a currency that is actually pegged to the dollar; D; D; D
It's like saying you ditch the dollar by using USDT!

The situation is more nuanced than that. The core reason a country ditches trading with the US dollar is to avoid the sanctions and the changing policies every few weeks. When trading with UAE Dirham, the US cannot block the funds directly, instead, it must rely on secondary sanctions to force the UAE government and the banking system to follow its policies. Like I mentioned above, this is why Russian traders are now seeking Chinese Yuan now over other currencies.

In what currency is your signature paying?
How many pay in rubles, rupiah, and other garbage?
Why is the USD dominating this forum well outside of SWIFT or sanctions or anythign else?
Because people like to spread propaganda till it hits their wallets, that's why!

I think you are assuming that my argument is about a choice between state controlled garbage. I do not accept USD, Rubble or INR for any signature campaigns. I only accept BTCitcoin.

We are communicating on bitcointalk and it is about BTCitcoin and while we might discuss about fiat garbage from a macroeconomic standpoint, we are fundamentally here for an asset that operates completely outside the SWIFT system and offers financial sovereignty. I hope we have a common ground on this reality, rather than focusing on all the surrounding propaganda.  

[stompix]

I agree to the fact that UAE Dirham is pegged to the US dollar but operates separately from the US financial system. I am also aware that US can put pressure on the UAE banking sector to stop specific transactions and since they rely heavily on the dollar, they have actively frozen Russian trading accounts and hence the Russian traders are prioritizing the Chinese Yuan to settle payments safely.

That's not my point
The point is that they are trading in something that goes up and down in value as the USD does.
Are you de-dollarizing if you switch from USD to USDT?
No, because the UAE needs to buy dollars to keep the peg anyhow!

The situation is more nuanced than that. The core reason a country ditches trading with the US dollar is to avoid the sanctions and the changing policies every few weeks.

That's not how sanctions work
Everyone thinks that sanctions work by having some guardian force checking all the sanctions merchandise, everything, and blocking every transfer.
Nope, sanctions work by punishing the company on this side that tries to deal with the sanctioned one.

China would have no problem telling its banks to deal with Russia or India, they could use dollars for that. How is the US going to stop them? Literally, how?
What is stopping XI from going with a bag of cash to Moscow and what is stopping any Russian and any Chinese from crossing the border with pallets of us dollars?
What is stopping a bank in Russia from paying a bank in China 2 million USD?

I do not accept USD, Rubble or INR for any signature campaigns. I only accept BTCitcoin.

But you're getting paid a fixed sum of USD value, just like everyone here, nobody is getting paid 0.15 mbtc or 12 mbt or 14043 satoshi per post, it's all USD-denominated.
Let's go back in time and check how things were in 2027 or 2020...and how they are now?
The USD won!

[Oshio-man]

You don't need to condemned your own currency for other currency because all the currencies will never going to have the same value, using your currency in your country you will think your currency is the most valuable currency in the world, is no longer a new thing that US economy is among the economy that is dominanting to create opportunities for different countries citizens to be part of their economy, US government don't joke with their economy because they know that it is what is making other countries to value their products and other things.

[slapper]

In recession Dollar value tends to go up and that's a really useful attribute for those close to dollar issuance.   I think we're stating the current bias and most acknowledge king dollar is the status quo for some time now.   However, the value by which dollar is measured is other currencies, Euro is the largest component then yen even sterling and many other minor players still count as value exchangeable and indicating strength and worth to the dollar currently.
   If none of those alternate currencies had worth neither would the dollar in its exchange, its purpose is to be swapped and used as unit of value.  The dollar system is too biased and it impedes world trade with that bias towards dollar and its allies, the further away you are the more you suffer from inflation secondary effects.

So you are measuring dollar strength against the euro and yen and sterling right, but all of these float. None of them have any fixed or solid anchor. We are literally comparing flexible things against other flexible things and calling that measurement.

The bias part is where this gets actually important tho. Section 301 tariffs at present, CUSMA renegotiation deadline approaching July 1st, EU frantically trying to get to July 4th auto tariff wall. All of these actions focus the majority of the power on the dollar in the short term. Every time. Its not random.

Developing country's central banks are forced to either raise rates to defend the currency, or hold them down to keep food affordable. Dollar prices for food, dollar prices for fertilizer, and dollar prices for energy. The price of your money falls by 15 percent and all of a sudden, simple nutrition becomes a family budget issue. 74% of central banks are now forecasting that the share of the dollar in global reserves will continue falling. They are purchasing gold at a record rate.

[WillyAp]

74% of central banks are now forecasting that the share of the dollar in global reserves will continue falling. They are purchasing gold at a record rate.

They have been wrong before. There is not one person in this world who can predict the reaction of the market in the future.
I don't think that each and every country using their own money makes for a fairer market. The dollar in the privateer market. used to save up are swapped into USDC and USDT, both mirroring the dollar.

People prefer US$ before Gold, it is much more practical. Not many shops have balances. To make bitcoin or any other coin as trustworthy as USDC and USDT is an uphill battle no one is willing to fight.

[DrBeer]

The US have to tell the world why and how the dollar is so valued in the world.

Tell the world what exactly? Everybody knows why the Dollar is valued and it’s because of it’s usage in most international trades and the petro-dollar, As many replies above have mentioned

For crying out loud, every other currency in the world is useless compared to the dollar and even in recession the dollar is still powerful.

This statement is actually wrong! Not “every currency” is useless or have lesser value compare to the US Dollar, there are currencies with more exchange rates and value than the US dollar right now, and they’re about five of them I think including currencies like the British pounds and Kuwaiti Dinar. So you might actually want to do some research about this..

In the mix of the US and Iran war the dollar is strong. So i believe even if the world economy is in recession the dollar will still wax stronger. Is it that the US have the best economist in the world?

It isn’t about having the best economist in the world or something like that, it’s just a simple matter of economy and trade..

If you had studied the topic in greater depth rather than just skimming the surface, you would have learned:
- The trade balance between Russia and India, as well as between Russia and China, is not in Russia’s favor. China and India use Russian rubles to buy RESOURCES, while Russia uses rupees and yuan to buy only what China and India allow it to. At the same time, most of the yuan and rupees received by Russia... sit in Chinese and Indian banks and, in essence, do not belong to Russia
 

Saudi Arabia entered into TEST contracts denominated in yuan, but did not continue this practice. If Saudi Arabia can buy something in China with yuan, the question is: what can it buy-for rubles, for example-on the global market? The answer is simple-NOTHING!

Regarding "It isn’t about having the best economist in the world or something like that, it’s just a simple matter of economy and trade...", I’ll give you a couple of examples, and you explain why this situation exists, even though the country has an economy and resources

Democratic Republic of the Congo
Possesses the largest reserves of cobalt, lithium, copper, and diamonds.
More than 60% of the population lives below the poverty line.


Angola
It is one of Africa’s leading exporters of oil and diamonds.
It suffers from catastrophic wealth inequality and high levels of poverty.

I could give many more examples, but just explain these-do they really not need a good economist?
 
And by the way, a question-can they buy anything on the global market with their local currency?

[eaLiTy]

I agree to the fact that UAE Dirham is pegged to the US dollar but operates separately from the US financial system. I am also aware that US can put pressure on the UAE banking sector to stop specific transactions and since they rely heavily on the dollar, they have actively frozen Russian trading accounts and hence the Russian traders are prioritizing the Chinese Yuan to settle payments safely.

That's not my point
The point is that they are trading in something that goes up and down in value as the USD does.
Are you de-dollarizing if you switch from USD to USDT?
No, because the UAE needs to buy dollars to keep the peg anyhow!

Hope you aware that UAE is a major oil exporter and uses the US dollar as the primary medium of transaction. Therefore, they are not actually buying USD to keep the peg, as they naturally receive a dollar surplus through international trade.

~

The situation is more nuanced than that. The core reason a country ditches trading with the US dollar is to avoid the sanctions and the changing policies every few weeks.

That's not how sanctions work
Everyone thinks that sanctions work by having some guardian force checking all the sanctions merchandise, everything, and blocking every transfer.
Nope, sanctions work by punishing the company on this side that tries to deal with the sanctioned one.

China would have no problem telling its banks to deal with Russia or India, they could use dollars for that. How is the US going to stop them? Literally, how?
What is stopping XI from going with a bag of cash to Moscow and what is stopping any Russian and any Chinese from crossing the border with pallets of us dollars?
What is stopping a bank in Russia from paying a bank in China 2 million USD?

You are missing the most important point here. Why would any country go through the massive trouble of moving away from the dollar if it were really simple? . There is a centralized clearing system, if a bank in Russia pays $2 million US dollars as you mentioned to China, that transaction must clear through a correspondent bank physically located inside the United States. The moment that transaction is triggered, the US regulators can see it and block it completely.

Since you mentioned Xi Jinping going with a bag of cash to Moscow, but billions of dollars worth of business cannot be done using physical briefcases of cash.  
 

~
But you're getting paid a fixed sum of USD value, just like everyone here, nobody is getting paid 0.15 mbtc or 12 mbt or 14043 satoshi per post, it's all USD-denominated.
Let's go back in time and check how things were in 2027 or 2020...and how they are now?
The USD won!

That is not a fact. All earlier signature campaigns paid per post or a fixed monthly amount in BTCitcoin and a USD peg was not prevalent. It only started when the price of BTCitcoin began to take off. @yahoo62278 was the first campaign manager to start a weekly pay rate that was explicitly pegged to a stable fiat value, and by 2017, almost all of the campaigns had shifted to fiat value.

Do not confuse the unit of account with the medium of exchange. Our overall discussion is about how some countries are trying to avoid USD, and you are now talking about the signature campaigns dollar peg. That is nothing but denominating a price in USD value, it is just math and does not involve the US banking system.

[Mate2237]

What do you expect from the world best economy. The United States of America is the most powerful country currently both economically and militarily speaking. Making the dollar as the standard when it comes to the world, when it comes to the international market businesses transactions are negotiated via the dollar . Making the doller standard currency every other currency in the world will try to compete with.


The truth of the matter is simply is not that, only America has the best of economist what you have to know is that both the strength of a currency and to a large extent the inflation rate of any country is artificially fixed, this implies that America has fixed their currency in a way that it's difficult to compete with it. Because America has the power to sanction any other countries in the world putting them at an advantageous position .

[Cookdata]

The US have to tell the world why and how the dollar is so valued in the world. For crying out loud, every other currency in the world is useless compared to the dollar and even in recession the dollar is still powerful. In the mix of the US and Iran war the dollar is strong. So i believe even if the world economy is in recession the dollar will still wax stronger. Is it that the US have the best economist in the world?

Have you heard of petrodollar economy? Crude oil sell is settled in US dollar and this is why their currency has more value than other countries. Didn't you see recently what Trump was trying to do in the negotiation between Iran and US. He want to hand over offshore account worth Billions of dollars but there is a condition attached to the money before they can use it. The money is to revatilize Iranian economy but they will have to use some part of the money to buy farm products and produce from US farmer. He want to use the opportunity to gives value to US farmers, this is one of the ways they make their currency stronger.

The US economy has what everyone want, Euro is actually more valuable than US dollar but dollar has strong affinity towards people because of what they have achieved within the years and that's what they will be doing in years come to continue to strengthen their country. You want your country currency to be strong, you have to do something exceptional on your country to make export more valuable and import less valuable, import cheap things and repackage them again for expresive exports.

[EluguHcman]

The US have to tell the world why and how the dollar is so valued in the world. For crying out loud, every other currency in the world is useless compared to the dollar and even in recession the dollar is still powerful. In the mix of the US and Iran war the dollar is strong. So i believe even if the world economy is in recession the dollar will still wax stronger. Is it that the US have the best economist in the world?

You don't need to cry out that so loudy dear, in the first place the Federal Reserve which maintains authority over the United States dollar does not seem to hinder the valuability of other currencies, the value of any currencies os determined their economic strength in the international market.
The USD is only the global dominant currency because they have the largest global trading economy and the USD is also find valuable for foreign exchange reserve.

Here is the The Most Valuable Currencies In The World 2026 and you can see for yourself their values when compared with the USD.

As of 2026, the strongest currencies in the world based on exchange rates against the US dollar are:

Kuwaiti Dinar (KWD) – 1 KWD = $3.2426​

Bahraini Dinar (BHD) – 1 BHD = $2.6491

Omani Rial (OMR) – 1 OMR = $2.5943​

Jordanian Dinar (JOD) – 1 JOD = $1.4098​

Gibraltar pound (GIP) – 1 GIP = $1.2985

You see that the USD is not even in the top 5.
And according to the source of my reseo in the information provided, if you read below you will see that the USD falls around top 10.
So we have a lot of currencies bigger than the USD if you think the popularity of the USD makes you feel the USD is the most valuable traditional currencies.