What would be the impact of the introduction of Central Bank Digital Currencies (CBDCs) on the Forex Market? Both short-term and long-term.
this is a very interesting point.
I don’t have any idea how this would work or what effect but certainly interested to know what people think.
Don’t know much about it but from what I’ve read, I guess it’ll be all good when it comes to payment transactions. Since there’ll be government backing, the digital currency would be safe and secure.
Quite interestingly, there’s isn’t much information about it available online. So yeah till the time we witness any impact, it’ll be difficult to suggest anything.
The long-term impact will take some time to become obvious. I have little doubt that there will be an impact though.
Speaking of CBDC, Russia is preparing one of its own too, apparently. So far China, the EU and Russia seem to be doing that, but I have not heard any plans about the USD.