Fitch’s US Downgrade Spurs Gulf’s De-Dollarization Push as China Aligns with Yuan & CIPS

Aligns, China, CIPS, DeDollarization, Downgrade, Fitchs, Gulfs, Push, Spurs, Yuan


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Fitch Ratings recently downgraded the credit rating of the United States from ‘AAA’ to ‘AA+’. This move has significant implications for various countries and global economic dynamics. In this article, we will explore the meaning of Fitch’s US downgrade and its impact on de-dollarisation efforts in the Gulf region as China makes advancements with its currency, Yuan, and the Cross-Border Interbank Payment System (CIPS).

Which countries have the highest credit rating of ‘AAA’?

Fitch’s downgrade of the US credit rating raises questions about the creditworthiness of different nations. Here are some countries that still maintain the highest credit rating of ‘AAA’:

  • Germany
  • Canada
  • Sweden
  • Norway
  • Switzerland

How does the US rating downgrade affect India?

The downgrade of the US credit rating has both direct and indirect effects on India:

  • Increased volatility in the rupee exchange rate
  • Potential impact on foreign investments and economic stability
  • Indirect effects through global economic dynamics and investor sentiment

Express View on Fitch’s US rating: The downgrade

The Indian Express provides insights into the Fitch’s US rating downgrade:

  • Analysis of the reasons behind the downgrade
  • Potential consequences for the US economy
  • Implications for global financial markets

Is Fitch’s US downgrade a non-event?

Moneycontrol examines whether Fitch’s US downgrade is a significant event or not:

  • Arguments suggesting the downgrade may not have a severe impact
  • Counterarguments highlighting potential risks and consequences
  • The role of alternative credit rating agencies and their assessments

View Full coverage on Google News

For more information on Fitch’s US downgrade and related news, you can visit Google News.


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