Di mata wey pipo dey look say dollar go soon lose im power no be today e start. For June, di president of European Central Bank, Christine Lagarde, tok say e fit dey hard for di American currency to hold di number one position for di world. Dis one fit give euro chance to shine well for di financial world.

For China side, di oga of People's Bank of China, Pan Gongsheng, warn say make pipo no too depend on one currency wey dey control di market. If di country wey dey produce di currency get wahala, e fit cause global crisis. Plus, di currency fit turn to weapon for sanction when geopolitics wahala dey.

Di Chinese government dey hope say their own currency, yuan, go fit compete for di international market. Pan Gongsheng tok say di big big things wey don happen for di international currency system for di past 20 years na di introduction of euro and di rise of yuan value.

But dis kind tok no be new thing. Politicians and economists dey always yarn am. For now, di world financial system never really change. Dollar still dey carry di main weight for international transactions and assets. For June dis year, 58% of payments wey pass through SWIFT na dollar. Euro dey second, while yuan dey sixth with just 3%.

For world trade, dollar still dey reign. For 2023, almost 40% of international contracts use dollar. Euro dey share di same percentage, but na mostly for trade inside European Union and between EU and African countries.

Even di central banks for di world dey prefer dollar. Last year, 46% of international reserves na dollar. Euro na 16%, while gold na 20%. One expert, Yan Pinchuk, tok say 88% of global currency market transactions dey happen with dollar.

Di exchange of currencies for di world still dey base on dollar. Di pairings of 'dollar and other currencies' dey cover more than 90% of di market.

Di talk say dollar go lose im power don dey since di 2008-2009 financial crisis. Di 2020 events like di freezing of Russian international reserves and di downgrade of US government bonds ratings still add to di matter. E even look like euro and yuan dey try collect di number one spot from dollar.

Di trade war wey start during Donald Trump first term as president still shake di matter. By 2025, di tariff war don affect almost all di countries for di world. Dis one make di US economy shake small. Inflation for US rise reach 2.7% for July, and di country debt don pass $37 trillion.

But experts dey tok say e too early to conclude say dollar go lose im power. Di US financial market strong well, and di trust wey pipo get for di system still dey solid. Di founder of SharesPro, Denis Astafiev, tok say di redistribution of roles dey happen, but no be say leader go change.

Countries for Global South dey try replace dollar reserves with gold and dey use their local currencies for trade. But to abandon dollar no dey di plan for now.

Euro and yuan fit try compete with dollar, but dem get their own wahala. For EU, dem need to strengthen their economy, improve legal and institutional systems, and boost their geopolitical influence. Christine Lagarde tok say di role of euro no go grow by itself.

Experts no dey expect much from digital euro. E fit help for internal market, but for international trade, di effect go dey limited. Di challenges like cost of implementation and lack of cross-border infrastructure go hold am back.

Yuan own matter no better pass. IMF data show say yuan global share no pass 1%. Di main reason na say yuan no dey used for payments between third countries. Plus, di Chinese government dey control di currency too much, and e no dey used for raw material trade like oil.

Even though dollar still dey strong, some small changes dey happen. After 2022, di choice of currency for trade don dey depend on geopolitics. Dis one dey cause fragmentation for di world financial system. Countries wey no wan follow US and EU dey prefer yuan and their local currencies.

But all dis na small small changes. For now, euro, yen, yuan, and pound never fit replace dollar for di main stage.