Argentina will pay for Chinese imports in yuan instead of US dollars in order to preserve its dwindling foreign reserves, Economy Minister Sergio Massa said on Wednesday.

India finally joins hands with Bangladesh to do cross-border trade in their own currencies, the Indian rupee (INR) and the Bangladeshi taka (BDT), making Bangladesh the nineteenth country to ditch the US dollar.

Iran’s top security official Shamkhani had extensive talks with Putin on de- dollarization of trade.

The global trend to substitute the dollar has been on the rise, with global powers hoping to stop the dollar's dominance.

A French analyst says countries are moving in the direction of overthrowing the dollar.

Foreign Minister Wang Yi said power politics and unilateral hegemony severely undermine multilateralism.

The fall of the dollar is gaining momentum. The Ukraine conflict has speeded up that process, especially since China and Russia have said that they would trade their oil in their own currencies.

Russia’s president says it is inevitable for the global economy to replace the US dollar with other currencies.

The diminishing dominance of the US dollar will lead to the continued shrinking of the country's economic and geopolitical influence, according to an expert.