Subject. The article is devoted to the analysis of competition among leading currencies in the global economy. Objectives. The aim is to analyze the positions of US Dollar, Euro and Yuan in global financial markets, assess prospects for the American currency to preserve its leading role in the global market, study the tendencies of development and changes in Euro and Yuan roles. Methods. The study employs the content analysis of scientific literature, provides a historical overview of analyzed problems, presents a review of financial analyst estimates. Results. I reveal reasons for increased competition among US Dollar, Euro and Yuan in global currency markets, disclose tendencies in using the said currencies in commercial and financial operations, estimate perspectives of using them in the global economy. Conclusions. Currently, the leading positions of the US Dollar are preserved. However, in the next period, an increase in the use of Euro and Yuan is expected in transactions in the commodity and financial markets, due to increased presence of Chinese companies in the global economy. The strengthening of the position of Euro may also be associated with the de-dollarization policy pursued by Russia, and a transition to settlements in Euro for operations in the global oil market. Obviously, the trend towards an increase in the share of Yuan in foreign exchange reserves of central banks will intensify. Also, an increase in demand for Yuan from private investors is expected.
Keywords: global currency, competition, financial market, US Dollar, Euro, Yuan
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