Is the dollar still the king of currencies?

Recently a number of countries have been making noise about moving away from the US Dollar as their transactional vehicle of choice. These have been led by the BRIC member nations which include Russia, China, Iran and India. This isn't a big surprise.

The US has tried to sanction Russia (over Ukraine) and since China buys all its oil from Putin, Iran & the Saudis these guys are trying to break free of US influence. India also has a huge appetite for these guys' oil.

So how worried should we be? Not that worried.

We're losing a small amount of market share, but we're still the safest most transacted currency on the globe. Do I see the EURO or Chinese Yen gaining a lot of ground? Nope.

Want to dig really deep?

https://www.federalreserve.gov/econres/notes/feds-notes/the-international-role-of-the-us-dollar-post-covid-edition-20230623.html#:~:text=The%202022%20Triennial%20Central%20Bank,20%20years%20(Figure%209).