The year ending 2023 will be the worst year for the dollar since the COVID-19 pandemic began in 2020.
“The dollar faces its worst year since the start of the pandemic as Wall Street bets that the U.S. Federal Reserve will cut interest rates after curbing prices,” Bloomberg reports.
It is noted that such a move will affect the attractiveness of foreign currencies.
According to the agency, the dollar has fallen this year by almost 3% – the sharpest annual decline in the U.S. currency since 2020.
Earlier, Fyodor Sidorov, a private investor and founder of the School of Practical Investing, and Spartak Sobolev, head of the investment strategy research department at Alfa-Forex, spoke to RT about the reasons for the dollar’s decline.
Russian leader Vladimir Putin said that the financial system based on the dollar and euro is discredited.
Russian Foreign Ministry spokeswoman Maria Zakharova said that dedollarisation is a reality at the moment, as the dollar has become a problem currency.