India, April 13 -- Several news items, trends, and insights concluded that the importance of the dollar is on the decline, even as the currency gains strength against the others due to the ongoing Iran war. Two recent events are of great significance in such an analysis. For the first time since the mid-1990s, the gold reserves of central banks surpassed their holdings in the US treasuries, $4 trillion against $3.9 trillion, respectively.

According to media reports, one of the criteria that Iran has posed for a ceasefire is payment, either in Chinese yuan or crypto, for tankers to pass through the Strait of Hormuz.

Both hint at the trends that can undermine the dollar in the future, as were initiatives such as BRICS' efforts to trade in...