US Dollar At Risk As Saudi Arabia Considers Chinese Yuan For Oil

 

US Dollar At Risk As Saudi Arabia Considers Chinese Yuan For Oil   The status of the US dollar, including as the world's reserve currency, depends on its dominance of global markets, especially the oil market, where 80% of sales are done in US dollars. If Saudi Arabia were to break the tradition of pricing its oil in dollars it would dramatically affect the US dollar's status and potentially the entire US economy.