The US dollar has long been the world’s dominant currency and accounts for the bulk of central banks’ foreign currency reserves. Lately, however, the dollar’s share in ‘allocated' global reserves has dipped sharply. Geopolitical conditions have sparked discussions on 'de-dollarisation.' While the dollar's supremacy is likely to persist, alternative settlement systems could challenge its widespread role in the future. This podcast explores the diversification away from the dollar, in light of emerging bilateral settlement systems.