As the world major currency, Dollar came to exitance since the 1944 by the US through Bretton Woods economic system. It was meant to rule the global financial transactions and the basis of international trade and investments.

However, with the recent escalation of relations between US, China, Russia, Iran and other countries. New economic blocks such as BRICS are now reconsidering usage of national currencies instead of dollar. This plus other issues such as sanctions against Russia and Iran have raised concerns among emerging economies to form a coalition against the dollar global hegemony.