Donald Trump, the former US president, and the frontrunner in the race for the 2024 Republican nomination has been highly critical of the state of the US economy. As he criticizes Current president Joe Biden and his administration. Trump says that the US dollar is collapsing and will soon not become the global standard, accusing his successor, Joe Biden, of destroying the country.

EDITED BY  | PAUL MITCHEL

WORLD SECTION

5 APRIL 2023 - 

 The U.S. presidential candidate Donald Trump said to the “American First Spot” platform that The dollar is collapsing and will not soon be the global standard. He added in his first public speech since his summons, the dollar is collapsing will be our greatest defeat, in 200 years, as this defeat will deprive the United States of being a superpower.

The stability of the dollar price for the fourth week in a row, as the dollar price recorded today, Wednesday, April 5, 2023, is about 30.85 pounds for purchase, and 30.95 pounds for sale.

Trump, the frontrunner in the race for the 2024 Republican nomination, has been highly critical of the state of the US economy.

It is noteworthy that several countries have recently begun to settle foreign trade in their local currency and are in the process of getting rid of the dollar, as de-dollarization has spread recently, especially after the Russian-Ukrainian war that began on February 24, 2022.

Do you hedge against the collapse of the dollar?” Central banks are buying gold at the highest pace in 55 years

The deputy speaker of the State Duma, “the lower house of the Russian Federal Assembly, while the Federation Council is considered the upper house of the country, as the Duma is located in the center of the Russian capital, Moscow, a few steps from Manezh Square,” said last week that the BRICS countries are in the process of creating a new means For payments - created on the basis of a strategy that does not depend on the dollar or the euro.

The BRICS countries - made up of Brazil, Russia, India, China, and South Africa - are considering creating a new currency to facilitate trade, with a new financial agreement said to be seen as early as August when the two countries meet together for their annual summit in South Africa.

Malaysia also proposed the creation of an Asian Monetary Fund to reduce dependence on the US dollar. Malaysian Prime Minister Anwar Ibrahim's idea was welcomed by Chinese President Xi Jinping, who emphasized discussing it in more detail.

More recently, China and Brazil struck a deal to ditch the US dollar in favor of their own currencies in trade transactions, and the Indian rupee could be the new dollar.

India is also reaching out to countries to settle cross-border trade in Indian rupees, and so far, 18 countries, including the UK, Malaysia, Germany, Russia, and the UAE, have been given permission to trade in Indian rupees.

Economist Nouriel Roubini, also known as Dr. Doom, said in February that the Indian rupee could over time become one of the world's global reserve currencies.

It (the Indian rupee) can be a unit of account, it can be a means of payment, it can become a store of value, as the economist added, the rupee can become Over time one of the varieties of global reserve currencies in the world.

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