Swift: During the Iran conflict, the use of the US dollar in global trade increased significantly

Golden Finance reports that on April 23, according to an indicator measuring activity in the interbank foreign exchange market, the ongoing conflict in the Middle East is strengthening the US dollar’s dominant position in global trade. The latest data released by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) shows that in March the US dollar’s share of international transactions rose to a record 51.1%, up from 49.2% in the previous month—its highest share since 2023. After the US dollar comes the euro, which accounts for about 21% of transactions via SWIFT, followed by the British pound, the Japanese yen, and others. (Dongxin News)

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