Numerous Countries Have Recently Dropped The Dollar as Their Reserve Currency

In the past couple of years, the following countries have stopped using the dollar as their reserve currency or have dropped their currency's peg against the dollar:

• China

• Japan

• Kuwait

• Syria

• Iran

• Libya

• Russia

• Malaysia

• Brazil

• Argentina

• Ecuador

• Switzerland

• Norway and some other Scandinavian countries

• Some Balkan countries

• Many East European currencies

The following countries are rumored to be considering dropping the dollar as their reserve currency or terminating their currency's peg against the dollar:

• The arab Gulf States

• Saudi Arabia

• South Korea

• Venezuela

• Sudan

As Assistant Secretary of the Treasury, and the "Father of Reagonomics", recently said: "The dollar’s reserve currency role is drawing to an end".

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