"Oil traders around the world are gradually shifting away from using the US dollar
Recent reports say major economic powerhouses have used alternative currencies in oil trades in recent times
Most oil deals in the last year have been settled primarily in the Chinese yuan"
For these reasons, many countries are beginning to call for a market-based determination on the dollar.
A market-based determination is a careful analysis that compares prices of one asset to another.
In this case, we are looking at a comparable analysis among other countries' currencies in the use of buying and selling oil with currencies other than the dollar.
This type of price analysis will determine exchange rate changes needing to be done to coordinate reasonable values between countries.
Watch the water.
© Goldilocks
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