Will the US dollar remain the global reserve currency? Leading global bank HSBC has forecasted the future of the US dollar, predicting how long it will maintain its status as the world's reserve currency. This comes at a time when the BRICS nations are actively pursuing de-dollarization strategies.

HSBC's Prediction: US Dollar Dominance to Persist

Leading global bank HSBC has predicted the future of the US dollar forecasting how long the currency can stay as the world’s reserve. The prediction comes at a time when the BRICS nations' de-dollarization efforts are gaining momentum. Although the U.S. dollar’s dominance has eroded and there has been a global decline in the preference for the greenback in recent times, it remains – and will most likely continue to be – the most important currency in international trade and finance.

BRICS De-Dollarization Efforts: A Challenging Road Ahead

The BRICS de-dollarization agenda aims to reduce reliance on the US dollar in international trade and investment. However, HSBC's analysis suggests that this may be a difficult goal to achieve. Local currencies, even those of major emerging economies, face significant challenges in replacing the dollar's established role.

HSBC Predicts Decades of US Dollar Supremacy

Leading global bank HSBC has predicted the future of the US dollar forecasting how long the currency can stay as the world’s reserve. The prediction comes at a time when the BRICS nations are looking for alternatives to the dollar. In conclusion, HSBC has predicted that the US dollar will be the de facto currency even after two to three decades. The BRICS de-dollarization agenda could fail as local currencies stand no real chance of immediately replacing the dollar's liquidity and stability.