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Countries moving away from the dollar

The US Treasury Secretary admits that Washington's practice of imposing sanctions against other nations has put the dollar's dominance at risk.

US Treasury Secretary Janet Yellen has conceded that Washington's long-time practice of imposing economic sanctions against other nations has led to the declining use of the dollar as the dominant currency.  

She further warned the country should anticipate a slump in the dollar’s share of global reserves in the coming years.

Yellen made the remarks in response to a question during a Congressional hearing.