
While the US dollar continues to dominate internationally, many countries in Asia have come to the conclusion that they trade in their domestic currency. This will help countries that rely heavily on imports to cushion the impact of the dollar. Recently, a new president was elected in Argentina, a country famous for football, and he announced before the election that he would stop using the country's peso and replace it with the dollar. This is called dollarization. Currently, Asian countries are undergoing de-dollarization. china and saudi arabia will soon sign a currency swap agreement worth about 7 billion dollars. The China-Saudi Arabia currency swap agreement is important in efforts by Asian countries that have decided not to rely solely on the dollar for international trade.

