US Dollar Losing Dominance as a Means for Settling Transactions in Africa

The dominance of the United States dollar as a settlement currency in Africa is being challenged by emerging payment methods in financial technology and by native African fiat currencies. In the four years to 2017, fewer people in the continent of 1.2 billion transacted via the US dollar than they did with their local currencies or mobile money, and perhaps cryptocurrency.

Also read: Steve Hanke: Central Banks Fuel Wealth Loss And Inflation – The World Needs Less Of Them

Digital

What feeling does this article give you?
Joy
Disgust
Fear
Anger
Sadness

#hashtags to follow:

United States [+]    Africa [+]    Steve Hanke [+]   

More #news: