De-Dollarization Grows Massive in Asia: Firms Demand Local Currencies
De-dollarization is gaining momentum in Asia as major companies are turning their backs on the US dollar and demanding local currencies instead. Large corporations and institutional funds are placing bets on local currencies and not the world’s reserve. The latest data from Bloomberg shows that firms are receiving more requests, including hedges that sidestep the US dollar. Also Read: Ethereum Pectra Upgrade Price: ETH Surges 18% to $2,200 De-Dollarization: Companies Want Local Currencies, US Dollar Getting Sidelined Source: Reuters / Getty Images Local currencies such as the Chinese yuan, Hong Kong dollar, Emirati dirham, and the euro are gaining momentum. In addition, a bank in Indonesia is setting up a desk to disburse loans in the Chinese yuan and not the US dollar. Another data shows that the vast majority of foreign-exchange trades that have been using the US dollar are shifting towards local currencies. De-dollarization gained wings in 2025, and local currencies are slowly ...