Disliked{quote} Isn't the concept of reserve currency obsolete? Debt and transactions can be valued in any currency simply with an exchange rate. There is no need to use actual dollars or perform actual currency conversions the way there once was. With China, Russia and more using their own currencies to circumvent various US sanctions, the NEED for the US$ as a reserve currency is even more undermined.Ignored
For many years Rub was not nor valued even in Russia, but dollar, gold and diamonds are.
1 Russian Ruble equals
0.011 United States Dollar
1 Chinese Yuan equals
0.14 United States Dollar