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USD COMEBACK
The Dollar’s Comeback: How the Greenback Dominated Global Currencies in 2024?
Discover how the U.S. dollar surged to dominate global currencies in 2024, reshaping economic power dynamics post-election
As the world’s primary reserve currency, the U.S. dollar (USD) plays a critical role in international trade, investment, and monetary policy. Over the past decade, debates have intensified about the dollar’s waning influence amid the rise of competing currencies like the Chinese yuan. Proponents of De-dollarization cite geopolitical shifts and China’s growing influence as catalysts for an evolving global monetary system.
However, 2024 has shown that reports of the dollar’s decline may be premature. Against the backdrop of economic uncertainty, political change, and contrasting monetary policies, the USD staged a significant rally, outperforming major regional currencies and reasserting its dominance (top infographic below).
USD Performance in 2024: A Year of Strength
The U.S. dollar emerged as the standout currency in 2024, gaining 6.7% against its global peers. This exceptional performance can be attributed to several factors — a resilient U.S. economy, rising…
