Dollar losing currency among Opec nations

Once upon a time, the greenback was king.

Back in the day, long before pink-toned fifty dollar bills and larger presidential heads, the dollar was the currency everyone around the world could instantly recognise.

But, with the rise of the euro, the appeal is to using a basket of currencies and, of course, the dollar’s steady slide over the past few years, using the US currency to price oil is falling out of favour.

At least that is what what Venezuela’s Energy Minister Rafael Ramirez told reporters last Friday.

GulfNews