US says it does not have 'good answer' to question on shifts away from dollar

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Image for illustrative purposes only. - FILE PIX

WASHINGTON - The White House said Thursday it did not have a "good answer" to a question from a reporter concerning a growing number of countries shifting away from the use of the US dollar.

"I'm gonna have to take your question, sir. I don't have a good answer," Anadolu Agency reported National Security Council spokesperson John Kirby said.

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The US dollar has for decades been the reserve global currency, but several countries around the world have begun to move away from it in a process known as de-dollarisation.

Russia and China have each dropped the dollar for use in bilateral trade, trading in their own currencies instead amid worsening tensions with Washington.

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Other nations have sought to either formulate new currencies, sometimes cryptocurrencies, or hold their central bank reserves in gold instead of the dollar, it added. - BERNAMA-ANADOLU