A senior executive at Bank of America said that many exporters no longer want to receive US dollars.

Paula Comings, Foreign Exchange Sales Manager at Bank of America, is hearing more and more from American importers that their foreign trading partners no longer want to receive payment in US dollars. Instead, they are requesting settlements in euros, Mexican pesos, or Canadian dollars in order to limit the impact of further fluctuations in the US dollar. "Many clients used to be reluctant because the US dollar was seen as sacrosanct by suppliers," Comings said, "but now it seems that overseas suppliers are saying, 'pay us in our currency.'" Despite a brief increase in the US dollar during the turmoil in the Middle East, it has still fallen by about 8% against a basket of currencies this year. The Bloomberg Index shows that the US dollar rose significantly in the last quarter of 2024. These fluctuations have made pricing decisions more complex and present profit risks, while also suggesting that the US dollar is losing favor.