Peskov points to trend toward declining role of dollar

A trend toward a declining share of the dollar as a global reserve currency is becoming increasingly evident, Russian Presidential Spokesman Dmitry Peskov said at the 12th Primakov Readings international academic and expert forum.

The Kremlin spokesman noted that the foundations of the international economic order, as well as the world’s primary reserve currency, are being depreciated.

“We see that the share of the main reserve currency in international settlements remains high, but there is a clear trend toward its decline. This decline is occurring not because countries are choosing to abandon it, but because the issuer is attempting to impose its own rules. Countries simply do not like that,” Peskov said.

Speaking at a session devoted to scenarios for the global order by the middle of the 21st century, he stressed the importance of understanding the current stage of global transformation.