If we look at the current Swift data, we can see three things: 1. the dollar is far from dead as it is always talked about, 2. the euro has lost much of its importance after phasing out Russian gas imports and cannot recover, and 3. Asian currencies such as the yuan continue to play virtually no role in international business. It will be interesting to see how the BRICS currency project develops against the backdrop of this fact. Confidence in these currencies is likely to be zero!

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