The successful example of Turkey in the transition from the US dollar to the national currencies in the agreements in the international markets forced France and Brazil to follow the example of the republic, Wrote Turkish edition of Haber7.
The publication recalled that Turkish President Recep Tayyip Erdogan began talking about the need to convert trade into national currencies six years ago.
“Following Brazilian leader Lula da Silva, French leader Emmanuel Macron has also announced the need to move away from the dollar and not depend on its extraterritoriality,” wrote the author of the material.
From the beginning of 2023 until the middle of April, Ankara managed to increase its foreign trade volume in lira to 54.7 billion liras, increasing by 89.1 percent compared to the same period of 2022. Purchases made in Turkish currency from other countries increased by 170.8 percent to 138.5 billion liras.
Ray Dalio, founder of Bridgewater Associates hedge fund declarationThe leading role of the US dollar in world trade is gradually weakening due to the increasing focus of developing countries on payments in national currencies and rising US public debt.