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Will Saudi Arabia Ditch the US Dollar in Favor of the Yuan?

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Will Saudi Arabia Ditch the US Dollar in Favor of the Yuan?
A staff member counts money at a branch of the Bank of China in Lianyungang, Jiangsu Province of China, on Aug. 10, 2011. VCG/VCG via Getty Images
Daniel Lacalle
Updated:
Commentary

There are numerous articles mentioning that Saudi Arabia may use the yuan, China’s domestic currency, for its oil exports.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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